Lakeland Industries (NASDAQ:LAKE) Releases Quarterly Earnings Results, Misses Expectations By $0.68 EPS

Lakeland Industries (NASDAQ:LAKE) released its quarterly earnings results on Monday. The medical instruments supplier reported ($0.41) EPS for the quarter, missing the consensus estimate of $0.27 by ($0.68), Zacks reports. Lakeland Industries had a positive return on equity of 1.66% and a negative net margin of 0.42%. During the same period last year, the business earned $0.22 EPS.

Lakeland Industries Stock Up 7.4%

Shares of Lakeland Industries stock traded up $1.34 during trading on Monday, reaching $19.36. The company had a trading volume of 212,746 shares, compared to its average volume of 66,903. 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 fifty-two week low of $14.58 and a fifty-two week high of $27.28. The firm’s fifty day moving average is $17.49 and its 200-day moving average is $21.11. The company has a market cap of $184.13 million, a price-to-earnings ratio of -215.11 and a beta of 1.13.

Lakeland Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Thursday, May 15th. Lakeland Industries’s payout ratio is currently -5.04%.

Hedge Funds Weigh In On Lakeland Industries

A number of hedge funds have recently bought and sold shares of LAKE. Goldman Sachs Group Inc. raised its stake in 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 in the last quarter. Jane Street Group LLC increased its holdings in shares of Lakeland Industries by 107.7% in the 1st 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 during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Lakeland Industries in the 1st quarter valued at approximately $164,000. 71.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Lake Street Capital initiated coverage on shares of Lakeland Industries in a research report on Tuesday, March 11th. They set a “buy” rating and a $30.00 target price on the stock. Wall Street Zen raised Lakeland Industries to a “sell” rating in a research report on Wednesday, May 7th. Finally, DA Davidson cut their price target on Lakeland Industries from $28.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th.

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.