Lakeland Industries (NASDAQ:LAKE) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Lakeland Industries shares crossed above their 200-day moving average, reaching $10.52 before closing at $10.27, though the stock remained below its 50-day average of $11.27.
• Analyst views are mixed: the consensus rating is “Hold” with a $15.00 price target, while some firms issued sell or strong-sell ratings and others maintained buy ratings.
• The company reported a substantial quarterly earnings miss, posting a $0.50 loss per share versus an expected $0.06 loss, alongside a negative net margin and return on equity; institutional investors own 71.69% of the stock.

Lakeland Industries, Inc. (NASDAQ:LAKE - Get Free Report) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $10.44 and traded as high as $10.52. Lakeland Industries shares last traded at $10.27, with a volume of 75,073 shares trading hands.

Wall Street Analyst Weigh In

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

Lakeland Industries Stock Down 2.1%

The stock's 50-day moving average price is $11.27 and its 200-day moving average price is $10.44. The company has a current ratio of 2.98, a quick ratio of 1.34 and a debt-to-equity ratio of 0.22. The stock has a market cap of $101.98 million, a price-to-earnings ratio of -3.79 and a beta of 1.45.

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 return on equity of 11.35% and a negative net margin of 13.99%.The firm had revenue of $50.14 million for the quarter, compared to analyst estimates of $51.36 million. On average, sell-side analysts expect that Lakeland Industries, Inc. will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LAKE. Bank of America Corp DE acquired a new position in shares of Lakeland Industries in the 2nd quarter valued at about $163,000. Ancora Advisors LLC bought a new stake in shares of Lakeland Industries during the 2nd quarter valued at about $54,000. Expect Equity LLC acquired a new stake in Lakeland Industries during the second quarter worth approximately $921,000. Manatuck Hill Partners LLC acquired a new stake in Lakeland Industries during the second quarter worth approximately $431,000. Finally, BlackRock Inc. bought a new stake in Lakeland Industries in the second quarter worth approximately $1,692,000. 71.69% of the stock is owned by institutional investors.

About Lakeland Industries

Lakeland Industries, Inc is a manufacturer and distributor of industrial and public-safety protective clothing and accessories. Its products are designed to help protect workers from chemical exposure, fire and heat, hazardous particles, infectious materials, and other workplace risks.

The company's product portfolio includes disposable and limited-use garments, chemical-protective clothing, flame-resistant apparel, high-visibility clothing, gloves, sleeves, hoods, footwear, and related 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.