Lakeland Industries, Inc. (NASDAQ:LAKE) Sees Significant Decrease in Short Interest

Key Points

• Short interest in Lakeland Industries dropped by 22.8% in August, totaling 1,050,000 shares as of August 31st, representing approximately 11.3% of the stock sold short.
• The company's latest earnings report revealed an EPS of $0.36, significantly above the consensus estimate of ($0.04), despite revenues falling short of projections at $52.50 million.
• Lakeland Industries recently declared a quarterly dividend of $0.03, yielding an annualized return of 0.8%, although it operates with a negative dividend payout ratio of -4.38%.

Lakeland Industries, Inc. (NASDAQ:LAKE - Get Free Report) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 1,050,000 shares, a decrease of 22.8% from the August 15th total of 1,360,000 shares. Based on an average daily trading volume, of 187,700 shares, the days-to-cover ratio is presently 5.6 days. Approximately 11.3% of the shares of the company are short sold. Approximately 11.3% of the shares of the company are short sold. Based on an average daily trading volume, of 187,700 shares, the days-to-cover ratio is presently 5.6 days.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. DA Davidson decreased their price target on Lakeland Industries from $23.00 to $20.00 and set a "buy" rating for the company in a research note on Thursday, September 11th. Zacks Research raised Lakeland Industries from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Wall Street Zen raised Lakeland Industries from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Finally, Lake Street Capital set a $26.00 price target on Lakeland Industries and gave the company a "buy" rating in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. Based on data from MarketBeat.com, Lakeland Industries presently has an average rating of "Buy" and a consensus target price of $25.00.

Lakeland Industries Stock Down 1.5%

Shares of LAKE traded down $0.22 during trading hours on Friday, reaching $14.65. The company's stock had a trading volume of 257,035 shares, compared to its average volume of 119,139. The firm has a market cap of $140.20 million, a price-to-earnings ratio of -5.35 and a beta of 1.11. Lakeland Industries has a 1-year low of $12.76 and a 1-year high of $27.28. The company has a quick ratio of 1.41, a current ratio of 3.66 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $14.58 and a two-hundred day moving average of $16.31.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last announced its quarterly earnings data on Tuesday, September 9th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.40. Lakeland Industries had a negative return on equity of 3.07% and a negative net margin of 11.22%.The business had revenue of $52.50 million during the quarter, compared to analyst estimates of $54.59 million. Lakeland Industries has set its FY 2026 guidance at EPS. As a group, research analysts predict that Lakeland Industries will post 0.48 EPS for the current fiscal year.

Lakeland Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, August 15th. Lakeland Industries's dividend payout ratio (DPR) is currently -4.38%.

Institutional Trading of Lakeland Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. High Falls Advisors Inc raised its holdings in shares of Lakeland Industries by 21.5% during the second quarter. High Falls Advisors Inc now owns 34,099 shares of the medical instruments supplier's stock worth $464,000 after acquiring an additional 6,038 shares in the last quarter. Paradigm Capital Management Inc. NY purchased a new stake in shares of Lakeland Industries during the second quarter worth $136,000. Bank of America Corp DE raised its holdings in shares of Lakeland Industries by 189.9% during the second quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier's stock worth $57,000 after acquiring an additional 2,736 shares in the last quarter. Sandia Investment Management LP purchased a new stake in shares of Lakeland Industries during the second quarter worth $148,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Lakeland Industries during the second quarter worth $68,000. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Lakeland Industries Company Profile

Lakeland Industries, Inc manufactures and sells industrial protective clothing and accessories for the industrial and public protective clothing market worldwide. It offers firefighting and heat protective apparel to protect against fire; high-end chemical protective suits to provide protection from highly concentrated, toxic and/or lethal chemicals, and biological toxins; and limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks.