Lakeland Industries (NASDAQ:LAKE) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of Lakeland Industries (NASDAQ:LAKE) from a hold rating to a strong sell rating in a report published on Tuesday morning,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. UBS Group set a $14.00 price objective on shares of Lakeland Industries in a report on Wednesday, December 10th. Lake Street Capital lowered their price target on Lakeland Industries from $26.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Lakeland Industries in a report on Wednesday, October 8th. Wall Street Zen downgraded Lakeland Industries from a “hold” rating to a “strong sell” rating in a report on Saturday, December 13th. Finally, DA Davidson reiterated a “neutral” rating and issued a $14.00 target price (down previously from $20.00) on shares of Lakeland Industries in a research report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.50.

Lakeland Industries Stock Performance

LAKE opened at $8.19 on Tuesday. Lakeland Industries has a 52-week low of $7.97 and a 52-week high of $27.28. The company has a quick ratio of 1.48, a current ratio of 3.83 and a debt-to-equity ratio of 0.28. The company has a market cap of $80.34 million, a P/E ratio of -1.87 and a beta of 1.33. The firm’s 50-day moving average price is $14.91 and its 200-day moving average price is $14.79.

Lakeland Industries (NASDAQ:LAKE) last released its earnings results on Wednesday, September 21st. The medical instruments supplier reported $0.36 EPS for the quarter. The company had revenue of $27.47 million during the quarter. Lakeland Industries had a negative net margin of 19.41% and a negative return on equity of 7.80%. As a group, equities analysts anticipate that Lakeland Industries will post 0.48 EPS for the current fiscal year.

Lakeland Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were issued a $0.03 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.12 dividend on an annualized basis and a yield of 1.5%. Lakeland Industries’s payout ratio is presently -2.73%.

Institutional Investors Weigh In On Lakeland Industries

Several hedge funds have recently modified their holdings of the company. Proficio Capital Partners LLC grew its position in shares of Lakeland Industries by 89.7% during the 3rd quarter. Proficio Capital Partners LLC now owns 20,580 shares of the medical instruments supplier’s stock valued at $305,000 after acquiring an additional 9,730 shares during the period. Private Capital Management LLC grew its holdings in Lakeland Industries by 1.2% in the third quarter. Private Capital Management LLC now owns 1,169,488 shares of the medical instruments supplier’s stock valued at $17,308,000 after purchasing an additional 14,415 shares during the period. Crawford Investment Counsel Inc. increased its position in shares of Lakeland Industries by 13.9% in the third quarter. Crawford Investment Counsel Inc. now owns 208,398 shares of the medical instruments supplier’s stock valued at $3,084,000 after buying an additional 25,429 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Lakeland Industries during the 3rd quarter worth approximately $192,000. Finally, Sandia Investment Management LP raised its stake in shares of Lakeland Industries by 89.7% during the 3rd quarter. Sandia Investment Management LP now owns 20,580 shares of the medical instruments supplier’s stock worth $305,000 after buying an additional 9,730 shares during the period. 71.69% of the stock is owned by hedge funds and other institutional investors.

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.