Lakeland Industries (NASDAQ:LAKE) Lowered to “Sell” at StockNews.com

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

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

Lakeland Industries Stock Performance

NASDAQ:LAKE opened at $20.14 on Monday. The stock has a market capitalization of $148.59 million, a P/E ratio of 26.85 and a beta of 0.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.74 and a current ratio of 5.39. Lakeland Industries has a fifty-two week low of $13.86 and a fifty-two week high of $26.10. The company has a 50 day moving average price of $23.02 and a 200 day moving average price of $19.99.

Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings data on Wednesday, September 4th. The medical instruments supplier reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.61). Lakeland Industries had a net margin of 1.38% and a return on equity of 3.70%. The firm had revenue of $38.51 million during the quarter, compared to analyst estimates of $41.10 million. During the same period in the previous year, the firm posted $0.32 earnings per share. Equities research analysts forecast that Lakeland Industries will post 1.51 EPS for the current year.

Lakeland Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.60%. Lakeland Industries’s payout ratio is 16.00%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. acquired a new stake in shares of Lakeland Industries in the 2nd quarter valued at $597,000. Renaissance Technologies LLC increased its holdings in Lakeland Industries by 2.7% in the second quarter. Renaissance Technologies LLC now owns 499,202 shares of the medical instruments supplier’s stock valued at $11,452,000 after buying an additional 13,200 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Lakeland Industries in the fourth quarter valued at $236,000. Inspire Advisors LLC purchased a new stake in Lakeland Industries during the 2nd quarter worth about $222,000. Finally, High Falls Advisors Inc lifted its holdings in 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 worth $447,000 after buying 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.