Lakeland Industries, Inc. (LAKE) Receives Average Recommendation of “Strong Buy” from Analysts

Shares of Lakeland Industries, Inc. (NASDAQ:LAKE) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Brokerages have set a 1 year consensus price objective of $15.00 for the company and are expecting that the company will post $0.14 earnings per share for the current quarter, according to Zacks. Zacks has also given Lakeland Industries an industry rank of 102 out of 256 based on the ratings given to related companies.

A number of analysts recently commented on the stock. Zacks Investment Research cut shares of Lakeland Industries from a “hold” rating to a “sell” rating in a research report on Thursday, September 13th. ValuEngine lowered shares of Lakeland Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd.

Shares of LAKE traded up $0.16 during trading hours on Wednesday, reaching $11.60. The stock had a trading volume of 7,931 shares, compared to its average volume of 21,880. The company has a quick ratio of 2.88, a current ratio of 6.99 and a debt-to-equity ratio of 0.01. Lakeland Industries has a 52 week low of $9.90 and a 52 week high of $16.85. The stock has a market cap of $87.89 million, a P/E ratio of 16.11 and a beta of 0.53.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings data on Monday, December 17th. The medical instruments supplier reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.01). Lakeland Industries had a negative net margin of 1.55% and a positive return on equity of 4.21%. The firm had revenue of $24.01 million during the quarter, compared to the consensus estimate of $24.02 million. On average, equities research analysts expect that Lakeland Industries will post 0.55 earnings per share for the current fiscal year.

In related news, Director Thomas J. Mcateer sold 4,900 shares of the company’s stock in a transaction on Friday, January 4th. The shares were sold at an average price of $10.56, for a total value of $51,744.00. Following the completion of the transaction, the director now directly owns 44,177 shares of the company’s stock, valued at approximately $466,509.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. North Star Investment Management Corp. boosted its stake in Lakeland Industries by 4.5% in the 4th quarter. North Star Investment Management Corp. now owns 196,900 shares of the medical instruments supplier’s stock worth $2,056,000 after purchasing an additional 8,450 shares during the period. Equitable Trust Co. acquired a new position in Lakeland Industries in the 3rd quarter worth $304,000. Private Capital Management LLC acquired a new position in Lakeland Industries in the 3rd quarter worth $3,587,000. First Wilshire Securities Management Inc. boosted its stake in Lakeland Industries by 8.8% in the 3rd quarter. First Wilshire Securities Management Inc. now owns 136,310 shares of the medical instruments supplier’s stock worth $1,813,000 after purchasing an additional 10,968 shares during the period. Finally, Heartland Advisors Inc. acquired a new position in Lakeland Industries in the 3rd quarter worth $2,660,000. 56.91% of the stock is owned by hedge funds and other institutional investors.

Lakeland Industries Company Profile

Lakeland Industries, Inc manufactures and sells a range of safety garments and accessories for the industrial and public protective clothing market in the United States and internationally. 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, and hazardous chemical and biological toxins; and firefighting and heat protective apparel to protect against fire, burns, and excessive heat.

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