Wall Street Zen Upgrades Lakeland Industries (NASDAQ:LAKE) to "Hold"

Key Points

• Wall Street Zen upgraded Lakeland Industries from “sell” to “hold”, adding to a mixed analyst picture that now includes three Buy ratings, one Hold, and one Sell. The stock’s consensus rating remains Hold with a $16.00 price target.
• Lakeland Industries shares were down 0.6% to $11.03 in Friday trading, leaving the stock well below its 52-week high of $18.00 but above its 52-week low of $7.15. The company has a market cap of about $108.9 million.
• The company recently reported better-than-expected quarterly earnings, posting $0.04 EPS versus estimates for a loss, and revenue of $47.42 million slightly ahead of forecasts. Despite the beat, analysts still expect Lakeland to post a full-year loss.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Sunday.

LAKE has been the subject of a number of other research reports. Lake Street Capital decreased their target price on Lakeland Industries from $16.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, April 17th. Maxim Group set a $16.00 price target on shares of Lakeland Industries in a research report on Monday, April 20th. DA Davidson boosted their price objective on shares of Lakeland Industries from $14.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, June 11th. Finally, Weiss Ratings raised shares of Lakeland Industries from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, June 29th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $16.00.

Lakeland Industries Stock Down 0.6%

NASDAQ LAKE traded down $0.07 during trading on Friday, hitting $11.03. 83,161 shares of the company traded hands, compared to its average volume of 156,373. Lakeland Industries has a 12 month low of $7.15 and a 12 month high of $18.00. The business has a fifty day simple moving average of $10.56 and a 200 day simple moving average of $9.62. The company has a current ratio of 3.09, a quick ratio of 1.34 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $108.87 million, a P/E ratio of -5.18 and a beta of 1.45.

Lakeland Industries (NASDAQ:LAKE - Get Free Report) last released its quarterly earnings results on Tuesday, June 9th. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.18. The company had revenue of $47.42 million during the quarter, compared to the consensus estimate of $47.36 million. Lakeland Industries had a negative return on equity of 6.64% and a negative net margin of 10.87%. As a group, sell-side analysts predict that Lakeland Industries will post -0.28 EPS for the current year.

Hedge Funds Weigh In On Lakeland Industries

Several large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in Lakeland Industries by 87.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier's stock valued at $27,000 after purchasing an additional 839 shares during the period. Bank of America Corp DE increased its holdings in shares of Lakeland Industries by 189.9% during the 2nd quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier's stock worth $57,000 after purchasing an additional 2,736 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Lakeland Industries during the second quarter valued at about $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Lakeland Industries during the second quarter valued at about $68,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Lakeland Industries in the second quarter valued at about $105,000. 71.69% of the stock is currently owned by institutional investors and hedge funds.

Lakeland Industries Company Profile

Lakeland Industries, Inc NASDAQ: LAKE is a global provider of high-performance protective apparel and accessories designed to safeguard workers in industrial, healthcare, laboratory, and emergency response environments. The company's expertise lies in producing garments that shield against chemical, biological, radiological, and thermal risks, supporting safety protocols in sectors such as oil and gas, petrochemicals, pharmaceuticals, and first responders.

The product portfolio encompasses both single-use and reusable solutions, including chemical protective coveralls, flame-resistant garments, arc flash clothing, medical isolation gowns, and cleanroom suits.

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