Brokerages Set Lakeland Industries, Inc. (NASDAQ:LAKE) PT at $16.50

Shares of Lakeland Industries, Inc. (NASDAQ:LAKE) have been assigned an average recommendation of “Hold” from the five ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $16.50.

A number of equities analysts have recently issued reports on LAKE shares. Wall Street Zen downgraded Lakeland Industries from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 13th. Zacks Research downgraded shares of Lakeland Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 16th. DA Davidson reaffirmed 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. Roth Capital decreased their price target on shares of Lakeland Industries from $27.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Finally, UBS Group set a $14.00 price objective on shares of Lakeland Industries in a research report on Wednesday, December 10th.

Lakeland Industries Stock Performance

Shares of LAKE stock opened at $9.34 on Friday. 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 50 day moving average price of $11.58 and a 200-day moving average price of $13.83. Lakeland Industries has a 52 week low of $7.77 and a 52 week high of $27.28. The firm has a market capitalization of $91.63 million, a PE ratio of -2.13 and a beta of 1.29.

Lakeland Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, November 17th. Lakeland Industries’s payout ratio is currently -2.73%.

Insider Buying and Selling

In other news, CFO Roger D. Shannon sold 8,869 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $8.06, for a total value of $71,484.14. Following the transaction, the chief financial officer owned 36,026 shares of the company’s stock, valued at $290,369.56. This trade represents a 19.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought a total of 6,727 shares of company stock valued at $58,548 in the last three months. Corporate insiders own 1.91% of the company’s stock.

Institutional Investors Weigh In On Lakeland Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in Lakeland Industries during the 1st quarter worth approximately $164,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Lakeland Industries in the first quarter worth $332,000. Goldman Sachs Group Inc. raised its position in shares of Lakeland Industries by 42.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 44,435 shares of the medical instruments supplier’s stock valued at $902,000 after purchasing an additional 13,219 shares during the period. Jane Street Group LLC lifted its stake in shares of Lakeland Industries by 107.7% during the 1st quarter. Jane Street Group LLC now owns 40,180 shares of the medical instruments supplier’s stock valued at $816,000 after buying an additional 20,832 shares in the last quarter. Finally, Salem Investment Counselors Inc. bought a new position in Lakeland Industries in the 2nd quarter worth $28,000. 71.69% of the stock is owned by hedge funds and other institutional investors.

About Lakeland Industries

Lakeland Industries, Inc (NASDAQ:LAKE) is a global provider of high-performance protective apparel and accessories designed to safeguard workers in industrial, healthcare, laboratory, and emergency response environments. The company’s expertise lies in producing garments that shield against chemical, biological, radiological, and thermal risks, supporting safety protocols in sectors such as oil and gas, petrochemicals, pharmaceuticals, and first responders.

The product portfolio encompasses both single-use and reusable solutions, including chemical protective coveralls, flame-resistant garments, arc flash clothing, medical isolation gowns, and cleanroom suits.