Lakeland Industries (NASDAQ:LAKE) Issues Quarterly Earnings Results

Lakeland Industries (NASDAQ:LAKE) issued its earnings results on Monday. The medical instruments supplier reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.68), Zacks reports. Lakeland Industries had a positive return on equity of 1.66% and a negative net margin of 0.42%.

Lakeland Industries Stock Up 7.4%

Shares of LAKE stock traded up $1.34 during trading on Monday, reaching $19.36. The company’s stock had a trading volume of 204,265 shares, compared to its average volume of 90,284. Lakeland Industries has a one year low of $14.58 and a one year high of $27.28. The business has a fifty day moving average price of $17.49 and a 200-day moving average price of $21.11. The company has a market cap of $184.13 million, a price-to-earnings ratio of -215.11 and a beta of 1.13. The company has a quick ratio of 1.77, a current ratio of 4.23 and a debt-to-equity ratio of 0.25.

Lakeland Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.62%. Lakeland Industries’s dividend payout ratio (DPR) is presently -5.04%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LAKE shares. DA Davidson lowered 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 started coverage on shares of Lakeland Industries in a research report on Tuesday, March 11th. They set a “buy” rating and a $30.00 target price for the company. Finally, Wall Street Zen raised shares of Lakeland Industries to a “sell” rating in a research report on Wednesday, May 7th.

Institutional Investors Weigh In On Lakeland Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new position in Lakeland Industries during the first quarter worth $164,000. Goldman Sachs Group Inc. increased its position in Lakeland Industries by 42.3% during the first quarter. Goldman Sachs Group Inc. now owns 44,435 shares of the medical instruments supplier’s stock worth $902,000 after acquiring an additional 13,219 shares during the period. Finally, Jane Street Group LLC grew its position in Lakeland Industries by 107.7% during the first quarter. Jane Street Group LLC now owns 40,180 shares of the medical instruments supplier’s stock worth $816,000 after buying an additional 20,832 shares in the last quarter. 71.69% of the stock is owned by institutional investors.

Lakeland Industries Company Profile

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.