Lakeland Industries (LAKE) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of Lakeland Industries (NASDAQ:LAKE) from a sell rating to a hold rating in a research report sent to investors on Saturday.
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. “
Separately, Roth Capital reiterated a buy rating on shares of Lakeland Industries in a research note on Sunday, September 9th.
Lakeland Industries (NASDAQ:LAKE) last posted its quarterly earnings data on Monday, September 10th. The medical instruments supplier reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.02). Lakeland Industries had a positive return on equity of 5.73% and a negative net margin of 0.23%. The company had revenue of $25.62 million for the quarter, compared to analyst estimates of $25.10 million. On average, equities analysts predict that Lakeland Industries will post 0.85 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Prudential Financial Inc. lifted its stake in shares of Lakeland Industries by 34.0% during the third quarter. Prudential Financial Inc. now owns 19,300 shares of the medical instruments supplier’s stock worth $257,000 after buying an additional 4,900 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Lakeland Industries by 5.3% during the first quarter. Wells Fargo & Company MN now owns 146,482 shares of the medical instruments supplier’s stock worth $1,897,000 after buying an additional 7,428 shares during the period. SG3 Management LLC acquired a new stake in shares of Lakeland Industries during the second quarter worth $200,000. Wedge Capital Management L L P NC acquired a new stake in shares of Lakeland Industries during the second quarter worth $368,000. Finally, North Star Investment Management Corp. lifted its stake in shares of Lakeland Industries by 30.5% during the third quarter. North Star Investment Management Corp. now owns 188,450 shares of the medical instruments supplier’s stock worth $2,506,000 after buying an additional 44,000 shares during the period. Institutional investors and hedge funds own 54.68% of the company’s stock.
About Lakeland Industries
Lakeland Industries, Inc manufactures and sells a range of safety garments and accessories for the industrial and public protective clothing market in the United States and internationally. It offers limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks; high-end chemical protective suits to provide protection from highly concentrated, and hazardous chemical and biological toxins; and firefighting and heat protective apparel to protect against fire, burns, and excessive heat.
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