Lakeland Industries (NASDAQ:LAKE) Raised to Sell at StockNews.com

StockNews.com upgraded shares of Lakeland Industries (NASDAQ:LAKE) to a sell rating in a report released on Wednesday.

A number of other equities research analysts have also commented on the company. DA Davidson dropped their price target on Lakeland Industries from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Lake Street Capital began coverage on Lakeland Industries in a research note on Tuesday, March 11th. They set a “buy” rating and a $30.00 target price for the company. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Lakeland Industries Trading Up 0.6 %

LAKE opened at $17.06 on Wednesday. The firm has a 50-day moving average price of $18.07 and a two-hundred day moving average price of $21.33. Lakeland Industries has a 1-year low of $14.58 and a 1-year high of $27.28. The stock has a market capitalization of $162.05 million, a PE ratio of -189.56 and a beta of 1.10. The company has a current ratio of 4.23, a quick ratio of 1.77 and a debt-to-equity ratio of 0.25.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings results on Wednesday, April 9th. The medical instruments supplier reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.97). Lakeland Industries had a positive return on equity of 1.66% and a negative net margin of 0.42%. The firm had revenue of $46.60 million for the quarter, compared to the consensus estimate of $47.10 million. During the same period in the prior year, the business earned $0.72 earnings per share. As a group, equities analysts anticipate that Lakeland Industries will post 0.48 earnings per share for the current fiscal year.

Lakeland Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, May 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.70%. Lakeland Industries’s dividend payout ratio is currently -5.04%.

Institutional Investors Weigh In On Lakeland Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. IFP Advisors Inc acquired a new position in Lakeland Industries during the 4th quarter worth approximately $36,000. Russell Investments Group Ltd. acquired a new position in Lakeland Industries during the fourth quarter worth $160,000. Bank of America Corp DE grew its position in Lakeland Industries by 114.1% in the fourth quarter. Bank of America Corp DE now owns 7,657 shares of the medical instruments supplier’s stock valued at $196,000 after purchasing an additional 4,081 shares in the last quarter. Metis Global Partners LLC bought a new position in Lakeland Industries in the fourth quarter valued at $207,000. Finally, Barclays PLC acquired a new stake in Lakeland Industries in the 3rd quarter valued at $306,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

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.