Published On: Sat, Sep 17th, 2016

Lakeland Industries Inc. (LAKE) Lifted to Strong-Buy at Zacks Investment Research

Lakeland Industries Inc. (NASDAQ:LAKE) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Friday. The brokerage presently has a $12.00 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 16.39% from the stock’s previous close.
According to Zacks, “LAKELAND INDUSTRIES, INC. has five divisions and three wholly-owned subsidiaries: One large division manufactures disposable/limited use garments and the four smaller divisions, Chemland, manufactures suits for use by toxic waste clean up teams; Fireland Fyrepel Products, manufactures fire and heat protective apparel and protective systems for personnel; Highland, manufactures specialty safety and industrial work gloves and Uniland, manufactures industrial and medical woven cloth garments. “
Lakeland Industries (NASDAQ:LAKE) traded down 0.48% during mid-day trading on Friday, hitting $10.31. 27,831 shares of the company were exchanged. The company has a market capitalization of $74.81 million, a P/E ratio of 37.36 and a beta of 0.10. Lakeland Industries has a 12-month low of $8.00 and a 12-month high of $15.78. The company’s 50-day moving average is $9.89 and its 200 day moving average is $9.94.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/16/lakeland-industries-inc-lake-lifted-to-strong-buy-at-zacks-investment-research.html

Lakeland Industries (NASDAQ:LAKE) last released its earnings results on Wednesday, September 14th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.10. Lakeland Industries had a net margin of 2.30% and a return on equity of 5.09%. The company had revenue of $22.30 million for the quarter, compared to analyst estimates of $22.01 million. During the same quarter last year, the firm earned $0.50 EPS. The firm’s quarterly revenue was down 24.4% compared to the same quarter last year. Analysts expect that Lakeland Industries will post $0.63 EPS for the current year.
A number of large investors have recently made changes to their positions in LAKE. Ancora Advisors LLC raised its stake in shares of Lakeland Industries by 14.2% in the second quarter. Ancora Advisors LLC now owns 289,619 shares of the company’s stock worth $2,511,000 after buying an additional 36,000 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Lakeland Industries during the second quarter worth about $164,000. Vanguard Group Inc. raised its stake in shares of Lakeland Industries by 1.8% in the second quarter. Vanguard Group Inc. now owns 232,002 shares of the company’s stock worth $2,012,000 after buying an additional 4,076 shares during the period. Wellington Management Group LLP raised its stake in shares of Lakeland Industries by 8.6% in the first quarter. Wellington Management Group LLP now owns 650,376 shares of the company’s stock worth $7,980,000 after buying an additional 51,700 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Lakeland Industries by 13.7% in the first quarter. Geode Capital Management LLC now owns 33,605 shares of the company’s stock worth $412,000 after buying an additional 4,042 shares during the period. 39.09% of the stock is currently owned by institutional investors and hedge funds.
Lakeland Industries Company Profile
Lakeland Industries, Inc (Lakeland) manufactures and sells a line of safety garments and accessories for the industrial and public protective clothing market. The Company’s product categories include limited use/disposable protective clothing; high-end chemical protective suits; firefighting, flame resistant personal protective equipment (FR PPE) and heat protective apparel; reusable woven garments; high visibility clothing, and glove and sleeves.

Receive News & Ratings for Lakeland Industries Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Lakeland Industries Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>