Lakeland Industries (NASDAQ:LAKE) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks.com reports. The firm currently has a $25.00 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 21.71% from the company’s previous close.
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. “
A number of other equities research analysts have also recently weighed in on LAKE. Craig Hallum raised their price target on Lakeland Industries from $22.00 to $30.00 in a report on Wednesday, June 10th. ValuEngine raised Lakeland Industries from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. Benchmark raised their price target on Lakeland Industries from $24.00 to $31.00 in a report on Wednesday, June 10th. Finally, Roth Capital lifted their target price on Lakeland Industries from $18.50 to $24.00 in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Lakeland Industries has an average rating of “Buy” and a consensus price target of $27.50.
Lakeland Industries stock opened at $20.54 on Tuesday. The business has a 50 day simple moving average of $22.02 and a 200 day simple moving average of $18.49. Lakeland Industries has a one year low of $9.97 and a one year high of $28.00. The company has a market capitalization of $163.91 million, a PE ratio of 8.15 and a beta of -0.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.06 and a quick ratio of 3.54.
Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings results on Wednesday, September 9th. The medical instruments supplier reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.84. Lakeland Industries had a return on equity of 22.52% and a net margin of 14.91%. Equities analysts anticipate that Lakeland Industries will post 3.29 earnings per share for the current fiscal year.
In other news, Director Christopher James Ryan sold 13,400 shares of Lakeland Industries stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $25.20, for a total value of $337,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.90% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in LAKE. Verus Capital Partners LLC acquired a new stake in shares of Lakeland Industries during the first quarter worth $26,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Lakeland Industries during the first quarter worth $28,000. UBS Group AG grew its stake in shares of Lakeland Industries by 228.8% during the second quarter. UBS Group AG now owns 3,347 shares of the medical instruments supplier’s stock worth $75,000 after purchasing an additional 2,329 shares during the period. Advisor Group Holdings Inc. acquired a new stake in shares of Lakeland Industries during the first quarter worth $89,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Lakeland Industries by 359.4% during the first quarter. Tower Research Capital LLC TRC now owns 6,151 shares of the medical instruments supplier’s stock worth $95,000 after purchasing an additional 4,812 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.
Lakeland Industries Company Profile
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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