StockNews.com Downgrades Lakeland Industries (NASDAQ:LAKE) to Sell

StockNews.com cut shares of Lakeland Industries (NASDAQ:LAKE) from a hold rating to a sell rating in a research note published on Monday morning.

Several other equities research analysts also recently issued reports on LAKE. Roth Mkm upped their price target on Lakeland Industries from $25.00 to $27.00 and gave the stock a buy rating in a report on Wednesday, July 3rd. Maxim Group upped their price objective on Lakeland Industries from $22.00 to $26.00 and gave the company a buy rating in a research note on Thursday, June 6th.

Lakeland Industries Trading Up 1.1 %

NASDAQ LAKE opened at $19.56 on Monday. The company has a market cap of $144.31 million, a price-to-earnings ratio of 26.08 and a beta of 0.57. Lakeland Industries has a 52 week low of $13.86 and a 52 week high of $26.10. The business has a 50 day moving average price of $23.06 and a 200-day moving average price of $19.99. The company has a quick ratio of 2.74, a current ratio of 5.39 and a debt-to-equity ratio of 0.10.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings results on Wednesday, September 4th. The medical instruments supplier reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.61). Lakeland Industries had a return on equity of 3.70% and a net margin of 1.38%. The company had revenue of $38.51 million for the quarter, compared to the consensus estimate of $41.10 million. During the same quarter last year, the company posted $0.32 EPS. As a group, equities analysts expect that Lakeland Industries will post 1.51 earnings per share for the current fiscal year.

Lakeland Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.12 dividend on an annualized basis and a yield of 0.61%. Lakeland Industries’s dividend payout ratio (DPR) is 16.00%.

Institutional Trading of Lakeland Industries

A number of institutional investors have recently added to or reduced their stakes in LAKE. Hillsdale Investment Management Inc. lifted its holdings in Lakeland Industries by 37.2% during the 1st quarter. Hillsdale Investment Management Inc. now owns 10,700 shares of the medical instruments supplier’s stock worth $196,000 after purchasing an additional 2,900 shares in the last quarter. Empowered Funds LLC increased its position in shares of Lakeland Industries by 6.9% during the 1st quarter. Empowered Funds LLC now owns 10,873 shares of the medical instruments supplier’s stock valued at $199,000 after purchasing an additional 700 shares during the last quarter. Inspire Advisors LLC bought a new position in shares of Lakeland Industries during the 2nd quarter valued at about $222,000. Quadrature Capital Ltd bought a new position in shares of Lakeland Industries during the 4th quarter valued at about $236,000. Finally, High Falls Advisors Inc increased its position in shares of Lakeland Industries by 35.8% during the 2nd quarter. High Falls Advisors Inc now owns 19,472 shares of the medical instruments supplier’s stock valued at $447,000 after purchasing an additional 5,137 shares during the last quarter. Hedge funds and other institutional investors 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.