Lakeland Industries (NASDAQ:LAKE) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Lakeland Industries shares crossed above their 200-day moving average of $10.52, reaching $11.77 before last trading at $10.83; the stock was reported down 8.0%.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $15.00. Ratings range from “strong sell” and “sell” to “buy,” while price targets include $17.00 from Roth Capital and $15.00 from DA Davidson.
• The company reported a quarterly loss of $0.50 per share, substantially missing the $0.06 loss expected, while revenue of $50.14 million also fell short of estimates. Lakeland posted negative net margins and analysts expect a full-year loss of $0.48 per share.

Lakeland Industries, Inc. (NASDAQ:LAKE - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $10.52 and traded as high as $11.77. Lakeland Industries shares last traded at $10.83, with a volume of 177,677 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen cut shares of Lakeland Industries from a "hold" rating to a "strong sell" rating in a research note on Saturday, September 12th. Roth Capital set a $17.00 price target on shares of Lakeland Industries in a research note on Thursday, September 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lakeland Industries in a research note on Friday, September 25th. Finally, DA Davidson dropped their target price on Lakeland Industries from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, September 14th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Lakeland Industries currently has an average rating of "Hold" and an average target price of $15.00.

Lakeland Industries Trading Down 8.0%

The company has a quick ratio of 1.34, a current ratio of 2.98 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $107.55 million, a P/E ratio of -4.00 and a beta of 1.45. The firm's 50-day simple moving average is $11.22 and its 200 day simple moving average is $10.52.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last posted its quarterly earnings data on Wednesday, September 9th. The medical instruments supplier reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.44). Lakeland Industries had a negative net margin of 13.99% and a negative return on equity of 11.35%. The business had revenue of $50.14 million for the quarter, compared to the consensus estimate of $51.36 million. Equities research analysts anticipate that Lakeland Industries, Inc. will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Lakeland Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Lakeland Industries during the 2nd quarter worth $1,692,000. Expect Equity LLC lifted its holdings in shares of Lakeland Industries by 6.9% during the fourth quarter. Expect Equity LLC now owns 166,061 shares of the medical instruments supplier's stock valued at $1,468,000 after purchasing an additional 10,705 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Lakeland Industries by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 75,107 shares of the medical instruments supplier's stock valued at $615,000 after purchasing an additional 1,479 shares during the last quarter. Manatuck Hill Partners LLC acquired a new position in shares of Lakeland Industries in the 2nd quarter valued at $431,000. Finally, Equitable Trust Co. boosted its position in shares of Lakeland Industries by 48.5% in the 1st quarter. Equitable Trust Co. now owns 44,530 shares of the medical instruments supplier's stock valued at $365,000 after purchasing an additional 14,540 shares during the period. Institutional investors and hedge funds own 71.69% of the company's stock.

About Lakeland Industries

Lakeland Industries, Inc is a manufacturer and distributor of industrial and public-safety protective clothing. The company develops apparel and related products designed to help protect workers from chemical exposure, hazardous materials, fire, heat, cold, airborne particles and other workplace risks.

Its product portfolio includes disposable and limited-use garments, chemical-resistant suits, flame-resistant and high-visibility clothing, heat- and cold-protective apparel, protective gloves and other personal protective equipment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.