Lakeland Industries, Inc. (NASDAQ:LAKE) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 12,900 shares, a decline of 60.1% from the August 30th total of 32,300 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 26,500 shares, the short-interest ratio is currently 0.5 days.
Large investors have recently modified their holdings of the stock. Private Capital Management LLC raised its stake in Lakeland Industries by 2.6% in the second quarter. Private Capital Management LLC now owns 731,998 shares of the medical instruments supplier’s stock worth $8,198,000 after buying an additional 18,733 shares in the last quarter. North Star Investment Management Corp. raised its stake in Lakeland Industries by 7.7% in the third quarter. North Star Investment Management Corp. now owns 221,850 shares of the medical instruments supplier’s stock worth $2,689,000 after buying an additional 15,900 shares in the last quarter. Kennedy Capital Management Inc. bought a new position in Lakeland Industries in the first quarter worth approximately $1,723,000. BlackRock Inc. raised its stake in Lakeland Industries by 6.4% in the second quarter. BlackRock Inc. now owns 48,078 shares of the medical instruments supplier’s stock worth $539,000 after buying an additional 2,890 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Lakeland Industries by 3.4% in the second quarter. Vanguard Group Inc. now owns 316,934 shares of the medical instruments supplier’s stock worth $3,550,000 after buying an additional 10,278 shares in the last quarter. 60.40% of the stock is owned by institutional investors.
A number of analysts recently issued reports on LAKE shares. Zacks Investment Research upgraded Lakeland Industries from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Thursday, September 12th. Roth Capital set a $15.00 price target on Lakeland Industries and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, ValuEngine lowered Lakeland Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th.
Shares of NASDAQ LAKE traded up $0.31 during trading hours on Friday, reaching $11.19. The stock had a trading volume of 13,959 shares, compared to its average volume of 11,547. The company has a current ratio of 5.49, a quick ratio of 2.10 and a debt-to-equity ratio of 0.04. The firm has a market cap of $86.85 million, a price-to-earnings ratio of 27.29 and a beta of 0.67. The business’s fifty day moving average price is $11.25 and its two-hundred day moving average price is $11.53. Lakeland Industries has a 52-week low of $9.70 and a 52-week high of $14.44.
Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings data on Monday, September 9th. The medical instruments supplier reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.16. The company had revenue of $27.47 million during the quarter, compared to the consensus estimate of $25.62 million. Lakeland Industries had a negative net margin of 0.49% and a positive return on equity of 1.67%. Equities research analysts anticipate that Lakeland Industries will post 0.45 earnings per share for the current fiscal year.
About Lakeland Industries
Lakeland Industries, Inc manufactures and sells a range of safety garments and accessories for the industrial and public protective clothing market in the United States and internationally. It offers limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks; high-end chemical protective suits to provide protection from highly concentrated, and hazardous chemical and biological toxins; and firefighting and heat protective apparel to protect against fire, burns, and excessive heat.
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