Lakeland Industries (NASDAQ:LAKE) Price Target Raised to $18.00 at DA Davidson

Lakeland Industries (NASDAQ:LAKE) had its price objective lifted by analysts at DA Davidson from $14.00 to $18.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. DA Davidson’s target price suggests a potential upside of 58.59% from the company’s previous close.

A number of other analysts have also issued reports on the stock. Lake Street Capital reduced their price target on shares of Lakeland Industries from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Maxim Group set a $16.00 price objective on shares of Lakeland Industries in a research report on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Lakeland Industries from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $16.00.

Lakeland Industries Stock Performance

Shares of LAKE stock opened at $11.35 on Thursday. Lakeland Industries has a 1-year low of $7.15 and a 1-year high of $18.00. The company has a current ratio of 3.53, a quick ratio of 1.36 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $111.91 million, a price-to-earnings ratio of -5.33 and a beta of 1.45. The stock’s fifty day simple moving average is $9.94 and its 200-day simple moving average is $9.85.

Lakeland Industries (NASDAQ:LAKE) last posted its quarterly earnings results on Tuesday, June 9th. The medical instruments supplier reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.18. Lakeland Industries had a negative return on equity of 6.56% and a negative net margin of 10.87%.The firm had revenue of $47.42 million for the quarter, compared to analyst estimates of $47.36 million. On average, sell-side analysts predict that Lakeland Industries will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lakeland Industries

Several institutional investors have recently made changes to their positions in LAKE. Pacific Ridge Capital Partners LLC grew its stake in shares of Lakeland Industries by 62.3% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 772,015 shares of the medical instruments supplier’s stock valued at $6,825,000 after buying an additional 296,222 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in Lakeland Industries in the third quarter valued at approximately $2,287,000. Geode Capital Management LLC lifted its stake in Lakeland Industries by 115.9% in the second quarter. Geode Capital Management LLC now owns 217,786 shares of the medical instruments supplier’s stock valued at $2,964,000 after acquiring an additional 116,901 shares during the last quarter. Royce & Associates LP grew its position in Lakeland Industries by 10.0% in the third quarter. Royce & Associates LP now owns 1,178,670 shares of the medical instruments supplier’s stock worth $17,444,000 after acquiring an additional 107,100 shares in the last quarter. Finally, Peapod Lane Capital LLC acquired a new position in shares of Lakeland Industries during the 4th quarter worth $604,000. 71.69% of the stock is currently owned by institutional investors and hedge funds.

Lakeland Industries Company Profile

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.