Lakeland Industries (NASDAQ:LAKE) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Lakeland Industries (NASDAQ:LAKE) from a hold rating to a strong sell rating in a research report sent to investors on Tuesday morning,Zacks reports.

Several other brokerages also recently weighed in on LAKE. Weiss Ratings restated a “sell (d-)” rating on shares of Lakeland Industries in a research note on Friday, September 25th. Wall Street Zen lowered shares of Lakeland Industries from a “hold” rating to a “strong sell” rating in a report on Saturday, September 12th. Roth Capital set a $17.00 price target on shares of Lakeland Industries in a research note on Thursday, September 10th. Finally, DA Davidson cut their price objective on shares of Lakeland Industries from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, September 14th. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $15.00.

Lakeland Industries Stock Performance

Lakeland Industries stock opened at $9.31 on Tuesday. The stock’s 50 day moving average price is $11.02 and its 200 day moving average price is $10.61. The firm has a market capitalization of $92.45 million, a PE ratio of -3.44 and a beta of 1.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.34 and a current ratio of 2.98. Lakeland Industries has a one year low of $7.15 and a one year high of $17.72.

Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings data on Wednesday, September 9th. The medical instruments supplier reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.44). The firm had revenue of $50.14 million during the quarter, compared to analyst estimates of $51.36 million. Lakeland Industries had a negative net margin of 13.99% and a negative return on equity of 11.35%. As a group, sell-side analysts expect that Lakeland Industries will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Lakeland Industries

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE acquired a new stake in shares of Lakeland Industries during the second quarter worth approximately $163,000. Ancora Advisors LLC bought a new stake in shares of Lakeland Industries in the second quarter worth $54,000. Expect Equity LLC bought a new stake in shares of Lakeland Industries in the second quarter worth $921,000. Manatuck Hill Partners LLC acquired a new stake in Lakeland Industries in the second quarter valued at $431,000. Finally, BlackRock Inc. acquired a new stake in Lakeland Industries in the second quarter valued at $1,692,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

About Lakeland Industries

Lakeland Industries, Inc is a manufacturer and distributor of industrial and public-safety protective clothing. The company develops apparel and related products designed to help protect workers from chemical exposure, hazardous materials, fire, heat, cold, airborne particles and other workplace risks.

Its product portfolio includes disposable and limited-use garments, chemical-resistant suits, flame-resistant and high-visibility clothing, heat- and cold-protective apparel, protective gloves and other personal protective equipment.