Lakeland Industries, Inc. (LAKE) Lowered to Hold at Zacks Investment Research
Lakeland Industries, Inc. (NASDAQ:LAKE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “LAKELAND INDUSTRIES, INC. has five divisions and three wholly-owned subsidiaries: One large division manufactures disposable/limited use garments and the four smaller divisions, Chemland, manufactures suits for use by toxic waste clean up teams; Fireland Fyrepel Products, manufactures fire and heat protective apparel and protective systems for personnel; Highland, manufactures specialty safety and industrial work gloves and Uniland, manufactures industrial and medical woven cloth garments. “
A number of other research firms also recently weighed in on LAKE. ValuEngine downgraded shares of Lakeland Industries from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. TheStreet raised shares of Lakeland Industries from a “c+” rating to a “b” rating in a research note on Wednesday, June 28th.
Shares of Lakeland Industries (NASDAQ:LAKE) traded down 0.63% during mid-day trading on Tuesday, reaching $15.90. 125,700 shares of the company were exchanged. The firm has a 50-day moving average price of $15.39 and a 200 day moving average price of $12.04. The stock has a market capitalization of $115.50 million, a P/E ratio of 20.92 and a beta of -0.12. Lakeland Industries has a 12 month low of $9.14 and a 12 month high of $17.18.
Lakeland Industries (NASDAQ:LAKE) last announced its earnings results on Wednesday, June 14th. The medical instruments supplier reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.09. Lakeland Industries had a net margin of 6.31% and a return on equity of 7.87%. The company had revenue of $22.90 million during the quarter, compared to the consensus estimate of $21.95 million. Lakeland Industries’s quarterly revenue was up 12.3% on a year-over-year basis. Equities research analysts anticipate that Lakeland Industries will post $0.81 EPS for the current fiscal year.
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Several large investors have recently bought and sold shares of LAKE. Wellington Management Group LLP increased its stake in Lakeland Industries by 2.3% in the first quarter. Wellington Management Group LLP now owns 718,839 shares of the medical instruments supplier’s stock worth $7,728,000 after buying an additional 16,200 shares during the period. Dimensional Fund Advisors LP increased its stake in Lakeland Industries by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 439,937 shares of the medical instruments supplier’s stock worth $6,379,000 after buying an additional 14,594 shares during the period. Renaissance Technologies LLC increased its stake in Lakeland Industries by 2.2% in the first quarter. Renaissance Technologies LLC now owns 393,202 shares of the medical instruments supplier’s stock worth $4,227,000 after buying an additional 8,400 shares during the period. Vanguard Group Inc. increased its stake in Lakeland Industries by 0.8% in the second quarter. Vanguard Group Inc. now owns 302,567 shares of the medical instruments supplier’s stock worth $4,387,000 after buying an additional 2,290 shares during the period. Finally, First Wilshire Securities Management Inc. increased its stake in Lakeland Industries by 198.4% in the first quarter. First Wilshire Securities Management Inc. now owns 279,614 shares of the medical instruments supplier’s stock worth $3,006,000 after buying an additional 185,909 shares during the period. 45.05% of the stock is owned by institutional investors and hedge funds.
About Lakeland Industries
Lakeland Industries, Inc (Lakeland) manufactures and sells a line of safety garments and accessories for the industrial and public protective clothing market. The Company’s product categories include limited use/disposable protective clothing; high-end chemical protective suits; firefighting, flame resistant personal protective equipment (FR PPE) and heat protective apparel; reusable woven garments; high visibility clothing, and glove and sleeves.
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