Lakeland Industries (NASDAQ:LAKE) Rating Lowered to “Strong Sell” at Wall Street Zen

Lakeland Industries (NASDAQ:LAKE) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a report released on Saturday.

LAKE has been the topic of a number of other research reports. Lake Street Capital decreased their price objective on Lakeland Industries from $26.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday. Weiss Ratings reiterated a “sell (d)” rating on shares of Lakeland Industries in a research report on Wednesday, October 8th. UBS Group set a $14.00 price target on shares of Lakeland Industries in a research note on Wednesday. Roth Capital dropped their price objective on shares of Lakeland Industries from $27.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, DA Davidson restated a “neutral” rating and set a $14.00 target price (down from $20.00) on shares of Lakeland Industries in a report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Lakeland Industries Trading Down 1.6%

Shares of Lakeland Industries stock opened at $8.99 on Friday. The company has a current ratio of 3.83, a quick ratio of 1.48 and a debt-to-equity ratio of 0.28. Lakeland Industries has a twelve month low of $8.31 and a twelve month high of $27.28. The firm has a market capitalization of $88.19 million, a PE ratio of -2.05 and a beta of 1.33. The firm’s 50-day moving average price is $15.35 and its 200 day moving average price is $14.99.

Lakeland Industries (NASDAQ:LAKE) last announced its earnings results on Wednesday, September 21st. The medical instruments supplier reported $0.36 EPS for the quarter. The business had revenue of $27.47 million during the quarter. Lakeland Industries had a negative return on equity of 7.80% and a negative net margin of 19.41%. On average, sell-side analysts predict that Lakeland Industries will post 0.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its position in Lakeland Industries by 87.8% in the third quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier’s stock worth $27,000 after acquiring an additional 839 shares during the period. Salem Investment Counselors Inc. acquired a new stake in shares of Lakeland Industries during the 2nd quarter worth about $28,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Lakeland Industries in the 2nd quarter valued at about $31,000. Tripletail Wealth Management LLC acquired a new position in Lakeland Industries in the third quarter valued at about $49,000. Finally, Bank of America Corp DE boosted its stake in Lakeland Industries by 189.9% during the second quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier’s stock worth $57,000 after buying an additional 2,736 shares during the period. 71.69% of the stock is currently owned by institutional investors and hedge funds.

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.