Lakeland Industries (NASDAQ:LAKE) Stock Price Expected to Rise, DA Davidson Analyst Says

Lakeland Industries (NASDAQ:LAKE) had its price target upped by research analysts at DA Davidson from $14.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. DA Davidson’s price objective indicates a potential upside of 58.59% from the stock’s current price.

Other analysts also recently issued reports about the stock. Wall Street Zen raised shares of Lakeland Industries from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Lake Street Capital cut their target price on shares of Lakeland Industries from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, April 17th. Finally, Maxim Group set a $16.00 price target on shares of Lakeland Industries in a report on Monday, April 20th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.00.

Lakeland Industries Stock Performance

Shares of NASDAQ LAKE opened at $11.35 on Thursday. The business’s 50-day simple moving average is $9.94 and its 200-day simple moving average is $9.85. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.36 and a current ratio of 3.53. Lakeland Industries has a 52 week low of $7.15 and a 52 week high of $18.00. The firm has a market cap of $111.91 million, a price-to-earnings ratio of -5.33 and a beta of 1.45.

Lakeland Industries (NASDAQ:LAKE) last posted its earnings results on Tuesday, June 9th. The medical instruments supplier reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.18. The firm had revenue of $47.42 million during the quarter, compared to analyst estimates of $47.36 million. Lakeland Industries had a negative return on equity of 6.56% and a negative net margin of 10.87%. As a group, equities research analysts expect that Lakeland Industries will post 0.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lakeland Industries

Several hedge funds and other institutional investors have recently modified their holdings of LAKE. Royce & Associates LP increased its position in Lakeland Industries by 10.0% during the third quarter. Royce & Associates LP now owns 1,178,670 shares of the medical instruments supplier’s stock worth $17,444,000 after acquiring an additional 107,100 shares during the period. Pacific Ridge Capital Partners LLC boosted its holdings in Lakeland Industries by 62.3% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 772,015 shares of the medical instruments supplier’s stock valued at $6,825,000 after purchasing an additional 296,222 shares during the period. Peapod Lane Capital LLC bought a new stake in Lakeland Industries in the 4th quarter valued at $604,000. BNP Paribas Financial Markets grew its position in Lakeland Industries by 87.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier’s stock worth $27,000 after purchasing an additional 839 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Lakeland Industries by 173.9% in the 1st quarter. Bank of America Corp DE now owns 19,169 shares of the medical instruments supplier’s stock worth $157,000 after purchasing an additional 12,171 shares during the last quarter. Institutional investors and hedge funds own 71.69% of the company’s stock.

About Lakeland Industries

Lakeland Industries, Inc (NASDAQ:LAKE) is a global provider of high-performance protective apparel and accessories designed to safeguard workers in industrial, healthcare, laboratory, and emergency response environments. The company’s expertise lies in producing garments that shield against chemical, biological, radiological, and thermal risks, supporting safety protocols in sectors such as oil and gas, petrochemicals, pharmaceuticals, and first responders.

The product portfolio encompasses both single-use and reusable solutions, including chemical protective coveralls, flame-resistant garments, arc flash clothing, medical isolation gowns, and cleanroom suits.