Brokerages Set Lakeland Industries, Inc. (NASDAQ:LAKE) PT at $16.50

Shares of Lakeland Industries, Inc. (NASDAQ:LAKE) have earned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $16.50.

A number of research analysts recently commented on LAKE shares. Lake Street Capital dropped their price target on Lakeland Industries from $26.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Wall Street Zen cut shares of Lakeland Industries from a “hold” rating to a “strong sell” rating in a research report on Saturday, December 13th. Roth Capital reduced their price target on shares of Lakeland Industries from $27.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. DA Davidson reissued a “neutral” rating and issued a $14.00 price objective (down from $20.00) on shares of Lakeland Industries in a research note on Wednesday, December 10th. Finally, Zacks Research cut Lakeland Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday.

Lakeland Industries Trading Down 3.9%

Shares of LAKE stock opened at $7.94 on Wednesday. The stock has a market cap of $77.89 million, a P/E ratio of -1.81 and a beta of 1.33. Lakeland Industries has a 1 year low of $7.77 and a 1 year high of $27.28. The company has a current ratio of 3.83, a quick ratio of 1.48 and a debt-to-equity ratio of 0.28. The stock has a 50 day simple moving average of $14.55 and a 200 day simple moving average of $14.67.

Lakeland Industries (NASDAQ:LAKE) last posted its quarterly earnings data on Wednesday, September 21st. The medical instruments supplier reported $0.36 EPS for the quarter. The firm had revenue of $27.47 million for the quarter. Lakeland Industries had a negative return on equity of 7.80% and a negative net margin of 19.41%. On average, research analysts predict that Lakeland Industries will post 0.48 earnings per share for the current fiscal year.

Lakeland Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 17th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, November 17th. Lakeland Industries’s dividend payout ratio is currently -2.73%.

Insider Transactions at Lakeland Industries

In other Lakeland Industries news, CFO Roger D. Shannon sold 8,869 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $8.06, for a total transaction of $71,484.14. Following the completion of the transaction, the chief financial officer owned 36,026 shares of the company’s stock, valued at approximately $290,369.56. The trade was a 19.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.91% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lakeland Industries

Several hedge funds and other institutional investors have recently made changes to their positions in LAKE. Proficio Capital Partners LLC boosted its position in Lakeland Industries by 89.7% in the third quarter. Proficio Capital Partners LLC now owns 20,580 shares of the medical instruments supplier’s stock valued at $305,000 after buying an additional 9,730 shares in the last quarter. Private Capital Management LLC lifted its stake in shares of Lakeland Industries by 1.2% in the 3rd quarter. Private Capital Management LLC now owns 1,169,488 shares of the medical instruments supplier’s stock valued at $17,308,000 after acquiring an additional 14,415 shares during the last quarter. Crawford Investment Counsel Inc. boosted its holdings in shares of Lakeland Industries by 13.9% during the 3rd quarter. Crawford Investment Counsel Inc. now owns 208,398 shares of the medical instruments supplier’s stock valued at $3,084,000 after acquiring an additional 25,429 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Lakeland Industries during the 3rd quarter valued at $192,000. Finally, Sandia Investment Management LP grew its position in Lakeland Industries by 89.7% during the 3rd quarter. Sandia Investment Management LP now owns 20,580 shares of the medical instruments supplier’s stock worth $305,000 after acquiring an additional 9,730 shares during the last quarter. 71.69% of the stock is owned by institutional investors.

About Lakeland Industries

Lakeland Industries, Inc (NASDAQ:LAKE) is a global provider of high-performance protective apparel and accessories designed to safeguard workers in industrial, healthcare, laboratory, and emergency response environments. The company’s expertise lies in producing garments that shield against chemical, biological, radiological, and thermal risks, supporting safety protocols in sectors such as oil and gas, petrochemicals, pharmaceuticals, and first responders.

The product portfolio encompasses both single-use and reusable solutions, including chemical protective coveralls, flame-resistant garments, arc flash clothing, medical isolation gowns, and cleanroom suits.