Lakeland Industries (NASDAQ:LAKE) Raised to Hold at StockNews.com

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

LAKE has been the subject of several other reports. Maxim Group raised 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. Roth Mkm lifted their price objective on Lakeland Industries from $25.00 to $27.00 and gave the stock a buy rating in a research report on Wednesday, July 3rd.

Lakeland Industries Trading Down 0.5 %

Shares of Lakeland Industries stock opened at $20.18 on Friday. The company has a quick ratio of 2.00, a current ratio of 4.24 and a debt-to-equity ratio of 0.24. The firm has a market cap of $148.89 million, a price-to-earnings ratio of 26.91 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 company’s 50-day simple moving average is $22.48 and its 200-day simple moving average is $20.29.

Lakeland Industries (NASDAQ:LAKE) last issued its earnings results on Wednesday, September 4th. The medical instruments supplier reported ($0.19) 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 analysts’ expectations of $41.10 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. As a group, equities research analysts anticipate that Lakeland Industries will post 0.96 earnings per share for the current year.

Lakeland Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.12 annualized dividend and a yield of 0.59%. Lakeland Industries’s dividend payout ratio (DPR) is presently 16.00%.

Hedge Funds Weigh In On Lakeland Industries

Several large investors have recently added to or reduced their stakes in LAKE. Inspire Advisors LLC purchased a new stake in Lakeland Industries in the second quarter valued at approximately $222,000. Hillsdale Investment Management Inc. lifted its position in Lakeland Industries by 37.2% during the first quarter. Hillsdale Investment Management Inc. now owns 10,700 shares of the medical instruments supplier’s stock valued at $196,000 after buying an additional 2,900 shares in the last quarter. Empowered Funds LLC grew its stake in Lakeland Industries by 6.9% during the first quarter. Empowered Funds LLC now owns 10,873 shares of the medical instruments supplier’s stock worth $199,000 after buying an additional 700 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Lakeland Industries in the 4th quarter valued at $236,000. Finally, High Falls Advisors Inc lifted its holdings 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 acquiring an additional 5,137 shares in the last quarter. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

About Lakeland Industries

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.