Lakeland Industries (NASDAQ:LAKE) Receives Neutral Rating from DA Davidson

DA Davidson reaffirmed their neutral rating on shares of Lakeland Industries (NASDAQ:LAKE) in a research report released on Wednesday morning, Marketbeat Ratings reports. They currently have a $14.00 price objective on the medical instruments supplier’s stock, down from their prior price objective of $20.00.

A number of other brokerages also recently issued reports on LAKE. Wall Street Zen raised Lakeland Industries from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Weiss Ratings reissued a “sell (d)” rating on shares of Lakeland Industries in a research report on Wednesday, October 8th. Finally, Zacks Research raised Lakeland Industries from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Lakeland Industries Stock Down 39.0%

Shares of NASDAQ:LAKE opened at $9.16 on Wednesday. Lakeland Industries has a fifty-two week low of $8.31 and a fifty-two week high of $27.28. The firm’s 50 day moving average price is $15.59 and its 200 day moving average price is $15.15. The company has a quick ratio of 1.41, a current ratio of 3.66 and a debt-to-equity ratio of 0.19. The stock has a market cap of $87.66 million, a price-to-earnings ratio of -2.09 and a beta of 1.33.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings data on Wednesday, September 21st. The medical instruments supplier reported $0.36 EPS for the quarter. The company had revenue of $27.47 million for the quarter. Lakeland Industries had a negative net margin of 19.41% and a negative return on equity of 7.64%. As a group, equities research analysts predict that Lakeland Industries will post 0.48 earnings per share for the current fiscal year.

Lakeland Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $0.12 annualized dividend and a yield of 1.3%. Lakeland Industries’s payout ratio is -4.38%.

Hedge Funds Weigh In On Lakeland Industries

A number of hedge funds have recently modified their holdings of LAKE. BNP Paribas Financial Markets boosted its stake in Lakeland Industries by 87.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier’s stock worth $27,000 after purchasing an additional 839 shares during the period. Salem Investment Counselors Inc. acquired a new stake in shares of Lakeland Industries during the second quarter worth about $28,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Lakeland Industries during the second quarter worth about $31,000. Tripletail Wealth Management LLC purchased a new position in shares of Lakeland Industries during the third quarter worth about $49,000. Finally, Bank of America Corp DE increased its position in Lakeland Industries by 189.9% in the 2nd quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier’s stock valued at $57,000 after acquiring an additional 2,736 shares during the period. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

Lakeland Industries Company Profile

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.