Lakeland Industries (NASDAQ:LAKE) Lowered to Strong Sell Rating by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of Lakeland Industries (NASDAQ:LAKE – Free Report) from a hold rating to a strong sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

A number of other research firms have also issued reports on LAKE. Roth Capital set a $17.00 price objective on Lakeland Industries in a research note on Thursday. DA Davidson raised their target price on Lakeland Industries from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Finally, Weiss Ratings raised Lakeland Industries from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Lakeland Industries currently has an average rating of “Hold” and a consensus price target of $15.60.

View Our Latest Analysis on LAKE

Lakeland Industries Stock Up 4.6%

Lakeland Industries stock opened at $10.08 on Friday. Lakeland Industries has a 1-year low of $7.15 and a 1-year high of $18.00. The firm has a market capitalization of $100.09 million, a price-to-earnings ratio of -3.72 and a beta of 1.45. The company has a current ratio of 2.98, a quick ratio of 1.34 and a debt-to-equity ratio of 0.22. The firm has a 50 day simple moving average of $11.49 and a 200 day simple moving average of $10.33.

Lakeland Industries (NASDAQ:LAKE – Get Free Report) last posted its earnings results on Wednesday, September 9th. The medical instruments supplier reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.44). Lakeland Industries had a negative return on equity of 11.35% and a negative net margin of 13.99%.The company had revenue of $50.14 million for the quarter, compared to analysts’ expectations of $51.36 million. On average, analysts predict that Lakeland Industries will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Lakeland Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in LAKE. Cubist Systematic Strategies LLC purchased a new position in shares of Lakeland Industries in the first quarter worth $164,000. Goldman Sachs Group Inc. grew its stake in Lakeland Industries by 42.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 44,435 shares of the medical instruments supplier’s stock worth $902,000 after acquiring an additional 13,219 shares in the last quarter. Jane Street Group LLC increased its position in shares of Lakeland Industries by 107.7% during the first quarter. Jane Street Group LLC now owns 40,180 shares of the medical instruments supplier’s stock worth $816,000 after acquiring an additional 20,832 shares during the period. Geode Capital Management LLC raised its stake in shares of Lakeland Industries by 115.9% during the second quarter. Geode Capital Management LLC now owns 217,786 shares of the medical instruments supplier’s stock valued at $2,964,000 after acquiring an additional 116,901 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Lakeland Industries in the second quarter valued at approximately $59,000. Institutional investors own 71.69% of the company’s stock.

Lakeland Industries Company Profile

(Get Free Report)

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.

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