Lakeland Industries (NASDAQ:LAKE) Announces Quarterly Earnings Results, Misses Estimates By $0.44 EPS

Lakeland Industries (NASDAQ:LAKE) announced its quarterly earnings results on Wednesday. The medical instruments supplier reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.44), FiscalAI reports. The company had revenue of $50.14 million during the quarter, compared to the consensus estimate of $51.36 million. Lakeland Industries had a negative net margin of 10.87% and a negative return on equity of 6.64%.

Lakeland Industries Trading Down 3.8%

Shares of Lakeland Industries stock traded down $0.44 on Wednesday, hitting $11.07. 103,664 shares of the company traded hands, compared to its average volume of 115,616. The company has a current ratio of 3.09, a quick ratio of 1.34 and a debt-to-equity ratio of 0.20. The company has a market cap of $109.25 million, a PE ratio of -5.20 and a beta of 1.45. The stock’s 50 day moving average price is $11.60 and its 200-day moving average price is $10.32. Lakeland Industries has a 52 week low of $7.15 and a 52 week high of $18.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new stake in Lakeland Industries during the 1st quarter valued at $164,000. Goldman Sachs Group Inc. increased its stake in shares of Lakeland Industries by 42.3% during the first quarter. Goldman Sachs Group Inc. now owns 44,435 shares of the medical instruments supplier’s stock valued at $902,000 after buying an additional 13,219 shares during the period. Jane Street Group LLC raised its holdings in shares of Lakeland Industries by 107.7% in the first quarter. Jane Street Group LLC now owns 40,180 shares of the medical instruments supplier’s stock valued at $816,000 after acquiring an additional 20,832 shares in the last quarter. Geode Capital Management LLC lifted its stake in Lakeland Industries by 115.9% in the second quarter. Geode Capital Management LLC now owns 217,786 shares of the medical instruments supplier’s stock worth $2,964,000 after acquiring an additional 116,901 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in Lakeland Industries during the 2nd quarter worth about $59,000. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LAKE shares. Wall Street Zen raised Lakeland Industries from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings raised shares of Lakeland Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. Finally, DA Davidson boosted their target price on shares of Lakeland Industries from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lakeland Industries currently has a consensus rating of “Hold” and an average price target of $16.00.

About Lakeland Industries

Lakeland Industries, Inc (NASDAQ:LAKE) is a global provider of high-performance protective apparel and accessories designed to safeguard workers in industrial, healthcare, laboratory, and emergency response environments. The company’s expertise lies in producing garments that shield against chemical, biological, radiological, and thermal risks, supporting safety protocols in sectors such as oil and gas, petrochemicals, pharmaceuticals, and first responders.

The product portfolio encompasses both single-use and reusable solutions, including chemical protective coveralls, flame-resistant garments, arc flash clothing, medical isolation gowns, and cleanroom suits.