Lakeland Industries Inc. (LAKE) Upgraded to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Lakeland Industries Inc. (NASDAQ:LAKE) from a hold rating to a strong-buy rating in a research report released on Friday. They currently have $12.00 price objective on the stock.
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. “
Lakeland Industries (NASDAQ:LAKE) opened at 10.30 on Friday. The stock has a 50 day moving average price of $9.84 and a 200-day moving average price of $9.95. The company has a market capitalization of $74.74 million, a price-to-earnings ratio of 37.32 and a beta of 0.10. Lakeland Industries has a 1-year low of $8.00 and a 1-year high of $15.78.
Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings data on Wednesday, September 14th. The company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.10. Lakeland Industries had a net margin of 2.30% and a return on equity of 5.07%. The business earned $22.30 million during the quarter, compared to analysts’ expectations of $22.01 million. During the same quarter in the prior year, the company earned $0.50 EPS. The firm’s quarterly revenue was down 24.4% on a year-over-year basis. Equities analysts predict that Lakeland Industries will post $0.60 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Ancora Advisors LLC boosted its position in Lakeland Industries by 14.2% in the second quarter. Ancora Advisors LLC now owns 289,619 shares of the company’s stock worth $2,511,000 after buying an additional 36,000 shares during the period. HighTower Advisors LLC acquired a new position in Lakeland Industries during the second quarter worth approximately $164,000. Vanguard Group Inc. increased its position in Lakeland Industries by 1.8% in the second quarter. Vanguard Group Inc. now owns 232,002 shares of the company’s stock worth $2,012,000 after buying an additional 4,076 shares in the last quarter. Wellington Management Group LLP increased its position in Lakeland Industries by 8.6% in the first quarter. Wellington Management Group LLP now owns 650,376 shares of the company’s stock worth $7,980,000 after buying an additional 51,700 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Lakeland Industries by 13.7% in the first quarter. Geode Capital Management LLC now owns 33,605 shares of the company’s stock worth $412,000 after buying an additional 4,042 shares in the last quarter. Institutional investors and hedge funds own 39.09% of the company’s stock.
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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