Lakeland Industries (NASDAQ:LAKE) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Lakeland Industries (NASDAQ:LAKE) from a sell rating to a hold rating in a report published on Thursday.

Separately, Roth Mkm boosted their price objective on shares of Lakeland Industries from $25.00 to $27.00 and gave the company a buy rating in a research report on Wednesday, July 3rd.

Lakeland Industries Price Performance

Lakeland Industries stock opened at $19.65 on Thursday. The company has a market cap of $144.98 million, a price-to-earnings ratio of 26.20 and a beta of 0.55. The firm’s fifty day moving average is $21.65 and its 200 day moving average is $20.53. The company has a quick ratio of 2.00, a current ratio of 4.24 and a debt-to-equity ratio of 0.24. Lakeland Industries has a 52-week low of $13.86 and a 52-week high of $26.10.

Lakeland Industries (NASDAQ:LAKE) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $41.10 million. During the same quarter last year, the firm earned $0.32 EPS. Sell-side analysts forecast that Lakeland Industries will post 0.96 EPS for the current fiscal year.

Lakeland Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, August 15th. Lakeland Industries’s payout ratio is presently 16.00%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. grew its holdings in shares of Lakeland Industries by 37.2% in the first quarter. Hillsdale Investment Management Inc. now owns 10,700 shares of the medical instruments supplier’s stock worth $196,000 after purchasing an additional 2,900 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Lakeland Industries by 6.9% in the first quarter. Empowered Funds LLC now owns 10,873 shares of the medical instruments supplier’s stock worth $199,000 after purchasing an additional 700 shares during the last quarter. Inspire Advisors LLC purchased a new stake in Lakeland Industries in the second quarter worth about $222,000. Quadrature Capital Ltd purchased a new stake in Lakeland Industries in the fourth quarter worth about $236,000. Finally, High Falls Advisors Inc lifted 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 worth $447,000 after acquiring an additional 5,137 shares during the period. 71.69% of the stock is currently owned by institutional investors.

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.