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.
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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.
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