DA Davidson Has Lowered Expectations for Lakeland Industries (NASDAQ:LAKE) Stock Price

Lakeland Industries (NASDAQ:LAKE) had its price objective decreased by investment analysts at DA Davidson from $28.00 to $23.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the medical instruments supplier’s stock. DA Davidson’s price objective suggests a potential upside of 45.02% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Lake Street Capital initiated coverage on shares of Lakeland Industries in a research report on Tuesday, March 11th. They issued a “buy” rating and a $30.00 price target on the stock. Roth Mkm increased their price objective on Lakeland Industries from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.00.

Lakeland Industries Price Performance

Shares of NASDAQ:LAKE opened at $15.86 on Tuesday. Lakeland Industries has a twelve month low of $15.25 and a twelve month high of $27.28. The stock’s 50 day moving average is $20.61 and its 200-day moving average is $21.75. The company has a quick ratio of 1.77, a current ratio of 4.23 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $150.65 million, a price-to-earnings ratio of -176.22 and a beta of 0.86.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings data on Wednesday, April 9th. The medical instruments supplier reported ($0.54) earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.97). Lakeland Industries had a positive return on equity of 1.66% and a negative net margin of 0.42%. The business had revenue of $46.60 million for the quarter, compared to analyst estimates of $47.10 million. During the same quarter in the previous year, the company posted $0.72 EPS. Sell-side analysts forecast that Lakeland Industries will post 0.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lakeland Industries news, Director Nikki Hamblin bought 1,590 shares of Lakeland Industries stock in a transaction dated Wednesday, January 22nd. The stock was bought at an average cost of $22.00 per share, with a total value of $34,980.00. Following the completion of the acquisition, the director now directly owns 17,452 shares in the company, valued at approximately $383,944. The trade was a 10.02 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO An Hui purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were acquired at an average cost of $22.00 per share, with a total value of $44,000.00. Following the completion of the transaction, the chief operating officer now directly owns 53,912 shares of the company’s stock, valued at $1,186,064. The trade was a 3.85 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 7,998 shares of company stock valued at $177,186. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Lakeland Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc purchased a new stake in Lakeland Industries during the fourth quarter worth about $36,000. Russell Investments Group Ltd. bought a new position in shares of Lakeland Industries during the 4th quarter valued at approximately $160,000. Bank of America Corp DE increased its stake in shares of Lakeland Industries by 114.1% during the 4th quarter. Bank of America Corp DE now owns 7,657 shares of the medical instruments supplier’s stock worth $196,000 after purchasing an additional 4,081 shares during the last quarter. Metis Global Partners LLC bought a new stake in shares of Lakeland Industries in the 4th quarter worth approximately $207,000. Finally, Barclays PLC purchased a new position in Lakeland Industries in the third quarter valued at approximately $306,000. 71.69% of the stock is owned by hedge funds and other institutional investors.

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.