Lakeland Industries (NASDAQ:LAKE) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Lakeland Industries, Inc. (NASDAQ:LAKE) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $22.45 and traded as high as $25.13. Lakeland Industries shares last traded at $24.72, with a volume of 83,895 shares traded.

Analysts Set New Price Targets

Several equities analysts recently commented on LAKE shares. StockNews.com downgraded Lakeland Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Roth Mkm upped their price target on Lakeland Industries from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th.

Lakeland Industries Stock Performance

The company’s 50-day moving average is $24.44 and its two-hundred day moving average is $22.45. The company has a market capitalization of $234.82 million, a P/E ratio of -274.67 and a beta of 0.62. The company has a quick ratio of 1.77, a current ratio of 4.23 and a debt-to-equity ratio of 0.25.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings data on Thursday, December 5th. The medical instruments supplier reported $0.01 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.39). Lakeland Industries had a negative net margin of 0.42% and a positive return on equity of 1.66%. Equities analysts anticipate that Lakeland Industries, Inc. will post 0.48 earnings per share for the current fiscal year.

Lakeland Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 17th will be given a $0.03 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.12 annualized dividend and a yield of 0.49%. Lakeland Industries’s payout ratio is currently -133.33%.

Insider Activity at Lakeland Industries

In other Lakeland Industries news, Director Nikki Hamblin purchased 2,220 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average price of $23.08 per share, with a total value of $51,237.60. Following the completion of the purchase, the director now directly owns 15,862 shares of the company’s stock, valued at $366,094.96. The trade was a 16.27 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO James M. Jenkins bought 990 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were bought at an average cost of $25.35 per share, for a total transaction of $25,096.50. Following the purchase, the chief executive officer now directly owns 990 shares in the company, valued at approximately $25,096.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought 11,208 shares of company stock worth $253,520 in the last three months. 4.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new stake in shares of Lakeland Industries during the third quarter valued at approximately $306,000. Geode Capital Management LLC lifted its position in Lakeland Industries by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 74,273 shares of the medical instruments supplier’s stock valued at $1,493,000 after acquiring an additional 1,177 shares in the last quarter. Empowered Funds LLC boosted its stake 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 purchasing an additional 536 shares during the last quarter. Peapod Lane Capital LLC bought a new stake in shares of Lakeland Industries in the 4th quarter worth $2,018,000. Finally, Diversified Investment Strategies LLC raised its stake in shares of Lakeland Industries by 30.0% in the fourth quarter. Diversified Investment Strategies LLC now owns 32,500 shares of the medical instruments supplier’s stock worth $830,000 after purchasing an additional 7,500 shares during the last quarter. Hedge funds and other institutional investors own 71.69% of the company’s stock.

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.