Lakeland Industries (NASDAQ:LAKE) Downgraded by Zacks Investment Research to “Strong Sell”

Lakeland Industries (NASDAQ:LAKEGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks.com reports.

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. “

Several other brokerages have also issued reports on LAKE. StockNews.com lowered shares of Lakeland Industries from a “buy” rating to a “hold” rating in a research report on Monday, April 18th. Craig Hallum decreased their price target on shares of Lakeland Industries from $45.00 to $30.00 in a research note on Tuesday, April 19th. Finally, Roth Capital reissued a “buy” rating on shares of Lakeland Industries in a research note on Wednesday, April 20th.

Shares of Lakeland Industries stock opened at $16.51 on Monday. Lakeland Industries has a 1 year low of $16.13 and a 1 year high of $29.64. The firm has a market cap of $128.37 million, a PE ratio of 11.71 and a beta of 0.12. The company has a 50 day simple moving average of $19.00 and a two-hundred day simple moving average of $20.03.

Several hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of Lakeland Industries by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 112,861 shares of the medical instruments supplier’s stock worth $2,449,000 after buying an additional 1,046 shares during the period. Morgan Stanley increased its stake in shares of Lakeland Industries by 7.0% in the first quarter. Morgan Stanley now owns 16,822 shares of the medical instruments supplier’s stock worth $469,000 after buying an additional 1,095 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Lakeland Industries by 21.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 6,905 shares of the medical instruments supplier’s stock worth $145,000 after buying an additional 1,227 shares during the period. First Trust Advisors LP increased its stake in shares of Lakeland Industries by 10.9% in the fourth quarter. First Trust Advisors LP now owns 12,663 shares of the medical instruments supplier’s stock worth $275,000 after buying an additional 1,242 shares during the period. Finally, Man Group plc increased its stake in shares of Lakeland Industries by 3.6% in the third quarter. Man Group plc now owns 40,513 shares of the medical instruments supplier’s stock worth $851,000 after buying an additional 1,400 shares during the period. 73.20% of the stock is currently owned by hedge funds and other institutional investors.

About Lakeland Industries (Get Rating)

Lakeland Industries, Inc manufactures and sells industrial protective clothing and accessories for the industrial and public protective clothing market worldwide. It offers limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks; high-end chemical protective suits to provide protection from highly concentrated, toxic and/or lethal chemicals, and biological toxins; and firefighting and heat protective apparel to protect against fire.

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