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

Lakeland Industries (NASDAQ:LAKE) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday, Zacks reports.

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

Lakeland Industries Stock Performance

LAKE stock opened at $9.31 on Tuesday. Lakeland Industries has a 1-year low of $7.15 and a 1-year high of $17.72. The company has a current ratio of 2.98, a quick ratio of 1.34 and a debt-to-equity ratio of 0.22. The firm has a market cap of $92.45 million, a PE ratio of -3.44 and a beta of 1.45. The business’s 50-day moving average price is $11.02 and its two-hundred day moving average price is $10.61.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings results 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 business had revenue of $50.14 million during the quarter, compared to the consensus estimate of $51.36 million. Lakeland Industries had a negative return on equity of 11.35% and a negative net margin of 13.99%. As a group, research analysts forecast that Lakeland Industries will post -0.48 earnings per share for the current year.

Institutional Trading of Lakeland Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE acquired a new stake in Lakeland Industries in the 2nd quarter valued at approximately $163,000. Ancora Advisors LLC bought a new stake in Lakeland Industries in the 2nd quarter valued at approximately $54,000. Expect Equity LLC acquired a new position in Lakeland Industries during the 2nd quarter worth approximately $921,000. Manatuck Hill Partners LLC acquired a new position in Lakeland Industries during the 2nd quarter worth approximately $431,000. Finally, BlackRock Inc. bought a new position in shares of Lakeland Industries during the 2nd quarter worth approximately $1,692,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

Lakeland Industries Company Profile

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.