Lakeland Industries (NASDAQ:LAKE) Upgraded at StockNews.com

StockNews.com upgraded shares of Lakeland Industries (NASDAQ:LAKE) to a sell rating in a report issued on Wednesday.

Other equities research analysts have also recently issued reports about the stock. DA Davidson reduced their price target on shares of Lakeland Industries from $28.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Lake Street Capital assumed coverage on Lakeland Industries in a report on Tuesday, March 11th. They issued a “buy” rating and a $30.00 target price for the company. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Lakeland Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Lakeland Industries Stock Performance

Shares of Lakeland Industries stock opened at $17.06 on Wednesday. The business has a 50-day simple moving average of $18.07 and a 200-day simple moving average of $21.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.77 and a current ratio of 4.23. Lakeland Industries has a one year low of $14.58 and a one year high of $27.28. The company has a market cap of $162.05 million, a PE ratio of -189.56 and a beta of 1.10.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings data on Wednesday, April 9th. The medical instruments supplier reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.97). The firm had revenue of $46.60 million during the quarter, compared to analysts’ expectations of $47.10 million. Lakeland Industries had a negative net margin of 0.42% and a positive return on equity of 1.66%. During the same period in the prior year, the company posted $0.72 earnings per share. On average, equities research analysts forecast that Lakeland Industries will post 0.48 EPS for the current fiscal year.

Lakeland Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.70%. Lakeland Industries’s dividend payout ratio (DPR) is presently -5.04%.

Institutional Investors Weigh In On Lakeland Industries

Hedge funds have recently made changes to their positions in the business. IFP Advisors Inc purchased a new position in Lakeland Industries during the fourth quarter worth about $36,000. Russell Investments Group Ltd. acquired a new position in Lakeland Industries during the fourth quarter worth approximately $160,000. Bank of America Corp DE raised its stake in Lakeland Industries by 114.1% during the fourth quarter. Bank of America Corp DE now owns 7,657 shares of the medical instruments supplier’s stock worth $196,000 after purchasing an additional 4,081 shares during the period. Metis Global Partners LLC acquired a new position in shares of Lakeland Industries in the 4th quarter valued at $207,000. Finally, American Century Companies Inc. boosted its holdings in shares of Lakeland Industries by 16.3% in the 4th quarter. American Century Companies Inc. now owns 14,012 shares of the medical instruments supplier’s stock valued at $358,000 after purchasing an additional 1,965 shares during the last quarter. Institutional investors and hedge funds own 71.69% of the company’s stock.

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.