Lakeland Industries (LAKE) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Lakeland Industries (NASDAQ:LAKE) from a hold rating to a buy rating in a research report released on Tuesday. They currently have $16.00 price target on the medical instruments supplier’s stock.

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. “

A number of other brokerages also recently commented on LAKE. Roth Capital initiated coverage on shares of Lakeland Industries in a research note on Wednesday, August 23rd. They issued a buy rating and a $18.00 price objective for the company. ValuEngine raised shares of Lakeland Industries from a hold rating to a buy rating in a report on Friday, September 1st. Finally, TheStreet lowered shares of Lakeland Industries from a b rating to a c+ rating in a report on Friday, December 15th.

Shares of Lakeland Industries (LAKE) traded down $0.05 during trading hours on Tuesday, reaching $14.85. 50,900 shares of the company were exchanged, compared to its average volume of 60,525. The company has a market capitalization of $120.93, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 1.68 and a beta of -0.11. Lakeland Industries has a 52 week low of $9.85 and a 52 week high of $17.18. The company has a quick ratio of 2.70, a current ratio of 6.43 and a debt-to-equity ratio of 0.02.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in Lakeland Industries by 23.6% in the third quarter. Dimensional Fund Advisors LP now owns 543,631 shares of the medical instruments supplier’s stock worth $7,665,000 after purchasing an additional 103,694 shares during the last quarter. Vanguard Group Inc. grew its holdings in Lakeland Industries by 0.8% in the second quarter. Vanguard Group Inc. now owns 302,567 shares of the medical instruments supplier’s stock worth $4,387,000 after purchasing an additional 2,290 shares during the last quarter. Algert Global LLC grew its holdings in Lakeland Industries by 776.0% in the third quarter. Algert Global LLC now owns 225,733 shares of the medical instruments supplier’s stock worth $3,183,000 after purchasing an additional 199,964 shares during the last quarter. Royal Bank of Canada grew its holdings in Lakeland Industries by 132.6% in the second quarter. Royal Bank of Canada now owns 155,970 shares of the medical instruments supplier’s stock worth $2,262,000 after purchasing an additional 88,910 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Lakeland Industries by 8.4% in the third quarter. Wells Fargo & Company MN now owns 77,420 shares of the medical instruments supplier’s stock worth $1,092,000 after purchasing an additional 5,972 shares during the last quarter. 55.35% of the stock is currently owned by institutional investors and hedge funds.

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About Lakeland Industries

Lakeland Industries, Inc (Lakeland) manufactures and sells a line of safety garments and accessories for the industrial and public protective clothing market. The Company’s product categories include limited use/disposable protective clothing; high-end chemical protective suits; firefighting, flame resistant personal protective equipment (FR PPE) and heat protective apparel; reusable woven garments; high visibility clothing, and glove and sleeves.

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