Lakeland Industries (LAKE) Downgraded by Zacks Investment Research

Lakeland Industries (NASDAQ:LAKE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “LAKELAND INDUSTRIES, INC. has five divisions and three wholly-owned subsidiaries: One large division manufactures disposable/limited use garments and the four smaller divisions, Chemland, manufactures suits for use by toxic waste clean up teams; Fireland Fyrepel Products, manufactures fire and heat protective apparel and protective systems for personnel; Highland, manufactures specialty safety and industrial work gloves and Uniland, manufactures industrial and medical woven cloth garments. “

Separately, TheStreet downgraded Lakeland Industries from a “b” rating to a “c+” rating in a research report on Friday, December 15th.

Shares of Lakeland Industries (NASDAQ:LAKE) opened at $13.30 on Tuesday. Lakeland Industries has a 12 month low of $9.85 and a 12 month high of $17.18. The company has a market capitalization of $107.95, a PE ratio of 15.83, a PEG ratio of 1.52 and a beta of -0.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.21 and a current ratio of 6.43.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings results on Friday, December 15th. The medical instruments supplier reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.04. Lakeland Industries had a return on equity of 8.21% and a net margin of 6.92%. The firm had revenue of $23.96 million for the quarter, compared to analyst estimates of $25.06 million. sell-side analysts anticipate that Lakeland Industries will post 0.9 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Lakeland Industries by 23.6% during the third quarter. Dimensional Fund Advisors LP now owns 543,631 shares of the medical instruments supplier’s stock worth $7,665,000 after acquiring an additional 103,694 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Lakeland Industries by 0.8% during the second quarter. Vanguard Group Inc. now owns 302,567 shares of the medical instruments supplier’s stock worth $4,387,000 after acquiring an additional 2,290 shares during the last quarter. Algert Global LLC raised its position in shares of Lakeland Industries by 776.0% during the third quarter. Algert Global LLC now owns 225,733 shares of the medical instruments supplier’s stock worth $3,183,000 after acquiring an additional 199,964 shares during the last quarter. Royal Bank of Canada raised its position in shares of Lakeland Industries by 132.6% during the second quarter. Royal Bank of Canada now owns 155,970 shares of the medical instruments supplier’s stock worth $2,262,000 after acquiring an additional 88,910 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Lakeland Industries by 8.4% during the third quarter. Wells Fargo & Company MN now owns 77,420 shares of the medical instruments supplier’s stock worth $1,092,000 after acquiring an additional 5,972 shares during the last quarter. Institutional investors own 55.34% of the company’s stock.

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Lakeland Industries Company Profile

Lakeland Industries, Inc (Lakeland) manufactures and sells a line of safety garments and accessories for the industrial and public protective clothing market. The Company’s product categories include limited use/disposable protective clothing; high-end chemical protective suits; firefighting, flame resistant personal protective equipment (FR PPE) and heat protective apparel; reusable woven garments; high visibility clothing, and glove and sleeves.

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