Lakeland Industries (NASDAQ:LAKE) Announces Earnings Results

Lakeland Industries (NASDAQ:LAKE) announced its quarterly earnings results on Tuesday. The medical instruments supplier reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.18, Zacks reports. The business had revenue of $47.42 million during the quarter, compared to analysts’ expectations of $47.36 million. Lakeland Industries had a negative net margin of 13.14% and a negative return on equity of 9.57%.

Lakeland Industries Stock Performance

LAKE traded up $0.13 during trading on Tuesday, hitting $9.54. 881,570 shares of the stock were exchanged, compared to its average volume of 111,772. The company has a quick ratio of 1.36, a current ratio of 3.53 and a debt-to-equity ratio of 0.24. Lakeland Industries has a 1-year low of $7.15 and a 1-year high of $18.00. The stock has a fifty day moving average price of $9.83 and a two-hundred day moving average price of $9.90. The firm has a market capitalization of $94.05 million, a P/E ratio of -3.70 and a beta of 1.45.

Analyst Ratings Changes

LAKE has been the subject of a number of recent research reports. Maxim Group set a $16.00 target price on Lakeland Industries in a report on Monday, April 20th. Wall Street Zen upgraded Lakeland Industries from a “strong sell” rating to a “sell” rating in a report on Saturday. Lake Street Capital reduced their price target on Lakeland Industries from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, April 17th. Zacks Research upgraded Lakeland Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Finally, DA Davidson raised Lakeland Industries from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $14.00 in a research report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Lakeland Industries presently has an average rating of “Hold” and an average target price of $15.20.

Hedge Funds Weigh In On Lakeland Industries

A number of hedge funds have recently modified their holdings of LAKE. BNP Paribas Financial Markets increased its holdings in shares of Lakeland Industries by 87.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier’s stock valued at $27,000 after acquiring an additional 839 shares during the period. First Trust Advisors LP boosted its stake in Lakeland Industries by 4.2% during the 2nd quarter. First Trust Advisors LP now owns 28,554 shares of the medical instruments supplier’s stock worth $389,000 after purchasing an additional 1,149 shares during the period. Rhumbline Advisers grew its position in Lakeland Industries by 16.0% during the 3rd quarter. Rhumbline Advisers now owns 13,415 shares of the medical instruments supplier’s stock worth $199,000 after purchasing an additional 1,853 shares during the last quarter. Wells Fargo & Company MN increased its stake in Lakeland Industries by 35.5% in the fourth quarter. Wells Fargo & Company MN now owns 9,514 shares of the medical instruments supplier’s stock valued at $84,000 after purchasing an additional 2,492 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Lakeland Industries by 20.9% in the second quarter. American Century Companies Inc. now owns 15,762 shares of the medical instruments supplier’s stock valued at $215,000 after buying an additional 2,722 shares during the last quarter. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

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.