Lakeland Industries (NASDAQ:LAKE) Upgraded 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 report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $15.00 target price 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 equities analysts have also recently issued reports on LAKE. Craig Hallum raised their price objective on shares of Lakeland Industries from $16.00 to $22.00 and gave the company a buy rating in a research note on Thursday, March 19th. Roth Capital assumed coverage on shares of Lakeland Industries in a research note on Wednesday, April 15th. They issued a buy rating and a $18.50 price objective on the stock. Finally, TheStreet upgraded shares of Lakeland Industries from a c rating to a b- rating in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Lakeland Industries currently has an average rating of Buy and an average price target of $18.50.

LAKE stock traded up $0.13 during midday trading on Thursday, reaching $13.85. The company’s stock had a trading volume of 231,000 shares, compared to its average volume of 992,600. Lakeland Industries has a 52 week low of $9.70 and a 52 week high of $28.00. The stock has a market cap of $109.38 million, a PE ratio of 34.63 and a beta of -0.11. The company has a quick ratio of 2.75, a current ratio of 6.17 and a debt-to-equity ratio of 0.02. The business’s 50-day simple moving average is $14.94 and its 200-day simple moving average is $13.20.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings data on Wednesday, April 15th. The medical instruments supplier reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Lakeland Industries had a net margin of 3.04% and a return on equity of 4.26%. The firm had revenue of $28.20 million for the quarter. As a group, equities analysts forecast that Lakeland Industries will post 0.78 earnings per share for the current fiscal year.

In other Lakeland Industries news, Director Christopher James Ryan sold 31,352 shares of the stock in a transaction on Wednesday, April 22nd. The shares were sold at an average price of $16.54, for a total value of $518,562.08. Following the sale, the director now directly owns 394,602 shares in the company, valued at $6,526,717.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Group Holdings Inc. acquired a new stake in shares of Lakeland Industries during the first quarter worth $89,000. Squarepoint Ops LLC acquired a new stake in shares of Lakeland Industries during the first quarter worth $400,000. Tower Research Capital LLC TRC raised its holdings in shares of Lakeland Industries by 359.4% during the first quarter. Tower Research Capital LLC TRC now owns 6,151 shares of the medical instruments supplier’s stock worth $95,000 after acquiring an additional 4,812 shares during the period. FinTrust Capital Advisors LLC acquired a new stake in shares of Lakeland Industries during the first quarter worth $231,000. Finally, Morgan Stanley raised its holdings in shares of Lakeland Industries by 837.5% during the first quarter. Morgan Stanley now owns 17,896 shares of the medical instruments supplier’s stock worth $277,000 after acquiring an additional 15,987 shares during the period. Institutional investors own 61.85% of the company’s stock.

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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