Lakeland Industries (NASDAQ:LAKE) Stock Rating Lowered by StockNews.com

Lakeland Industries (NASDAQ:LAKE) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Friday.

Separately, Roth Mkm boosted their price target 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 Price Performance

Shares of NASDAQ LAKE opened at $20.71 on Friday. Lakeland Industries has a twelve month low of $13.86 and a twelve month high of $26.10. The company has a current ratio of 4.24, a quick ratio of 2.00 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $152.80 million, a price-to-earnings ratio of 27.61 and a beta of 0.55. The business has a 50 day simple moving average of $21.45 and a 200-day simple moving average of $20.62.

Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings results 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 the consensus estimate of $41.10 million. During the same quarter last year, the firm posted $0.32 earnings per share. As a group, equities research analysts expect that Lakeland Industries will post 0.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its position in Lakeland Industries by 2.7% during 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 period. North Star Investment Management Corp. grew its stake in Lakeland Industries by 0.9% in the first quarter. North Star Investment Management Corp. now owns 168,573 shares of the medical instruments supplier’s stock valued at $3,085,000 after purchasing an additional 1,503 shares in the last quarter. Total Clarity Wealth Management Inc. purchased a new position in Lakeland Industries in the second quarter valued at about $597,000. High Falls Advisors Inc grew its stake in Lakeland Industries by 35.8% in the second 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 in the last quarter. Finally, Quadrature Capital Ltd grew its stake in Lakeland Industries by 47.0% in the first quarter. Quadrature Capital Ltd now owns 18,641 shares of the medical instruments supplier’s stock valued at $339,000 after purchasing an additional 5,957 shares in the last quarter. 71.69% of the stock is owned by institutional investors and hedge funds.

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.