Lakeland Industries (NASDAQ:LAKE) Stock Rating Lowered by Zacks Research

Lakeland Industries (NASDAQ:LAKE) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday, Zacks reports.

Several other research firms have also issued reports on LAKE. DA Davidson lowered their price target on shares of Lakeland Industries from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, September 14th. Wall Street Zen cut shares of Lakeland Industries from a “hold” rating to a “strong sell” rating in a research note on Saturday, September 12th. Roth Capital set a $17.00 price objective on shares of Lakeland Industries in a research note on Thursday, September 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lakeland Industries in a research note on Friday, September 25th. Three investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.00.

Lakeland Industries Trading Down 4.4%

Shares of LAKE opened at $9.31 on Tuesday. Lakeland Industries has a fifty-two week low of $7.15 and a fifty-two week high of $17.72. The business has a 50-day moving average of $11.02 and a 200 day moving average of $10.61. The firm has a market cap of $92.45 million, a P/E ratio of -3.44 and a beta of 1.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.34 and a current ratio of 2.98.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings data on Wednesday, September 9th. The medical instruments supplier reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.44). The business had revenue of $50.14 million for the quarter, compared to analysts’ expectations of $51.36 million. Lakeland Industries had a negative net margin of 13.99% and a negative return on equity of 11.35%. As a group, research analysts forecast that Lakeland Industries will post -0.48 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Lakeland Industries during the second quarter valued at about $1,692,000. Expect Equity LLC purchased a new position in shares of Lakeland Industries in the 2nd quarter worth about $921,000. Bank of New York Mellon Corp bought a new position in shares of Lakeland Industries during the 2nd quarter valued at about $602,000. Manatuck Hill Partners LLC bought a new position in shares of Lakeland Industries during the 2nd quarter valued at about $431,000. Finally, Marquette Asset Management LLC purchased a new position in shares of Lakeland Industries during the 2nd quarter valued at about $300,000. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Lakeland Industries Company Profile

Lakeland Industries, Inc is a manufacturer and distributor of industrial and public-safety protective clothing. The company develops apparel and related products designed to help protect workers from chemical exposure, hazardous materials, fire, heat, cold, airborne particles and other workplace risks.

Its product portfolio includes disposable and limited-use garments, chemical-resistant suits, flame-resistant and high-visibility clothing, heat- and cold-protective apparel, protective gloves and other personal protective equipment.