Lakeland Industries (NASDAQ:LAKE) Research Coverage Started at DA Davidson

DA Davidson started coverage on shares of Lakeland Industries (NASDAQ:LAKE) in a research report report published on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $28.00 price objective on the medical instruments supplier’s stock.

Other equities research analysts also recently issued reports about the company. Roth Mkm boosted their price target on Lakeland Industries from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Lake Street Capital started coverage on Lakeland Industries in a research note on Tuesday, March 11th. They set a “buy” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.25.

Lakeland Industries Stock Performance

LAKE stock opened at $20.26 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.23 and a quick ratio of 1.77. Lakeland Industries has a 1 year low of $15.10 and a 1 year high of $27.28. The company has a market cap of $192.45 million, a P/E ratio of -225.11 and a beta of 0.96. The stock’s fifty day moving average price is $22.52 and its 200-day moving average price is $22.03.

Lakeland Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 17th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, February 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.59%. Lakeland Industries’s dividend payout ratio is presently -133.33%.

Insider Transactions at Lakeland Industries

In other Lakeland Industries news, insider Laurel A. Yartz purchased 2,272 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were bought at an average cost of $22.00 per share, with a total value of $49,984.00. Following the acquisition, the insider now owns 9,772 shares in the company, valued at approximately $214,984. This trade represents a 30.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO An Hui purchased 2,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was acquired at an average price of $22.00 per share, with a total value of $44,000.00. Following the completion of the purchase, the chief operating officer now directly owns 53,912 shares in the company, valued at $1,186,064. This trade represents a 3.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 8,988 shares of company stock valued at $202,283 over the last 90 days. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Lakeland Industries

Several institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc purchased a new stake in Lakeland Industries in the 4th quarter worth $36,000. Russell Investments Group Ltd. purchased a new stake in shares of Lakeland Industries in the fourth quarter worth about $160,000. Bank of America Corp DE lifted its position in shares of Lakeland Industries by 114.1% in the fourth quarter. Bank of America Corp DE now owns 7,657 shares of the medical instruments supplier’s stock worth $196,000 after buying an additional 4,081 shares in the last quarter. Metis Global Partners LLC bought a new position in Lakeland Industries during the fourth quarter valued at approximately $207,000. Finally, Empowered Funds LLC grew its holdings in Lakeland Industries by 4.6% during the 3rd quarter. Empowered Funds LLC now owns 12,129 shares of the medical instruments supplier’s stock valued at $244,000 after buying an additional 536 shares in the last quarter. 71.69% of the stock is owned by hedge funds and other 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.