Zacks Investment Research downgraded shares of Lakeland Industries, Inc. (NASDAQ:LAKE) from a buy rating to a hold rating in a research note released on Saturday morning.

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 brokerages have also weighed in on LAKE. Roth Capital started coverage on shares of Lakeland Industries in a research note on Wednesday, August 23rd. They set a buy rating and a $18.00 target price on the stock. ValuEngine raised shares of Lakeland Industries from a hold rating to a buy rating in a research note on Friday, September 1st.

Shares of Lakeland Industries (NASDAQ:LAKE) traded up $0.50 during trading on Friday, reaching $14.75. 41,457 shares of the company’s stock were exchanged, compared to its average volume of 43,576. The company has a market cap of $118.48, a price-to-earnings ratio of 17.99, a PEG ratio of 1.77 and a beta of -0.03. Lakeland Industries has a 1-year low of $9.85 and a 1-year high of $17.18. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.70 and a current ratio of 5.75.

Lakeland Industries (NASDAQ:LAKE) last announced its earnings results on Wednesday, September 13th. The medical instruments supplier reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $23.90 million for the quarter, compared to analyst estimates of $23.91 million. Lakeland Industries had a net margin of 6.65% and a return on equity of 8.27%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS. sell-side analysts expect that Lakeland Industries will post 0.84 earnings per share for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Lakeland Industries by 23.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 543,631 shares of the medical instruments supplier’s stock valued at $7,665,000 after purchasing an additional 103,694 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Lakeland Industries by 2.2% during the 1st quarter. Renaissance Technologies LLC now owns 393,202 shares of the medical instruments supplier’s stock valued at $4,227,000 after purchasing an additional 8,400 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Lakeland Industries by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 302,567 shares of the medical instruments supplier’s stock valued at $4,387,000 after purchasing an additional 2,290 shares in the last quarter. Algert Global LLC lifted its position in Lakeland Industries by 776.0% during the 3rd quarter. Algert Global LLC now owns 225,733 shares of the medical instruments supplier’s stock valued at $3,183,000 after acquiring an additional 199,964 shares during the period. Finally, Royal Bank of Canada lifted its position in Lakeland Industries by 132.6% during the 2nd quarter. Royal Bank of Canada now owns 155,970 shares of the medical instruments supplier’s stock valued at $2,262,000 after acquiring an additional 88,910 shares during the period. 42.56% of the stock is currently owned by hedge funds and other institutional investors.

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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