Lakeland Industries, Inc. (NASDAQ:LAKE) Short Interest Update

Lakeland Industries, Inc. (NASDAQ:LAKE) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 36,600 shares, a drop of 8.7% from the March 15th total of 40,100 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily volume of 19,900 shares, the days-to-cover ratio is presently 1.8 days.

Lakeland Industries Trading Up 0.8 %

Lakeland Industries stock opened at $15.89 on Wednesday. The company has a quick ratio of 2.74, a current ratio of 5.53 and a debt-to-equity ratio of 0.01. Lakeland Industries has a 52 week low of $10.60 and a 52 week high of $19.66. The company has a market capitalization of $117.11 million, a price-to-earnings ratio of 22.38 and a beta of 0.47. The stock has a 50-day moving average price of $16.98 and a 200 day moving average price of $16.42.

Lakeland Industries (NASDAQ:LAKE) last released its earnings results on Wednesday, April 10th. The medical instruments supplier reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.08). Lakeland Industries had a return on equity of 6.63% and a net margin of 4.33%. The firm had revenue of $31.20 million for the quarter, compared to analyst estimates of $32.50 million. Sell-side analysts anticipate that Lakeland Industries will post 1.26 EPS for the current year.

Lakeland Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 15th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Wednesday, February 14th. Lakeland Industries’s dividend payout ratio (DPR) is 16.90%.

Institutional Investors Weigh In On Lakeland Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Qube Research & Technologies Ltd purchased a new position in Lakeland Industries during the third quarter valued at approximately $26,000. UBS Group AG raised its position in Lakeland Industries by 64.2% during the first quarter. UBS Group AG now owns 2,347 shares of the medical instruments supplier’s stock valued at $45,000 after acquiring an additional 918 shares in the last quarter. Barclays PLC purchased a new position in Lakeland Industries during the third quarter valued at approximately $53,000. Tower Research Capital LLC TRC raised its position in Lakeland Industries by 511.9% during the third quarter. Tower Research Capital LLC TRC now owns 4,620 shares of the medical instruments supplier’s stock valued at $54,000 after acquiring an additional 3,865 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Lakeland Industries by 28.8% during the second quarter. BNP Paribas Arbitrage SA now owns 9,729 shares of the medical instruments supplier’s stock valued at $149,000 after acquiring an additional 2,178 shares in the last quarter. Institutional investors and hedge funds own 71.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LAKE. StockNews.com downgraded Lakeland Industries from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. TheStreet raised Lakeland Industries from a “c+” rating to a “b-” rating in a report on Thursday, February 1st.

About Lakeland Industries

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.