Lakeland Industries (LAKE) Upgraded to “Buy” by Zacks Investment Research

Lakeland Industries (NASDAQ:LAKE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $15.00 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 14.50% from the stock’s previous close.

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. “

Separately, TheStreet lowered Lakeland Industries from a “b” rating to a “c+” rating in a research report on Friday, December 15th.

Lakeland Industries (LAKE) traded down $0.15 during midday trading on Thursday, hitting $13.10. The company’s stock had a trading volume of 4,990 shares, compared to its average volume of 36,883. Lakeland Industries has a 1 year low of $9.85 and a 1 year high of $17.18. The company has a market cap of $106.73, a price-to-earnings ratio of 15.77, a PEG ratio of 1.46 and a beta of -0.17. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.43 and a quick ratio of 3.21.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings results on Friday, December 15th. The medical instruments supplier reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. Lakeland Industries had a return on equity of 8.21% and a net margin of 6.92%. The firm had revenue of $23.96 million for the quarter, compared to analyst estimates of $25.06 million. analysts forecast that Lakeland Industries will post 0.9 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Lakeland Industries by 23.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 543,631 shares of the medical instruments supplier’s stock valued at $7,665,000 after purchasing an additional 103,694 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Lakeland Industries by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 302,567 shares of the medical instruments supplier’s stock valued at $4,387,000 after purchasing an additional 2,290 shares in the last quarter. Algert Global LLC boosted its position in shares of Lakeland Industries by 776.0% during the 3rd quarter. Algert Global LLC now owns 225,733 shares of the medical instruments supplier’s stock valued at $3,183,000 after purchasing an additional 199,964 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Lakeland Industries by 132.6% during the 2nd quarter. Royal Bank of Canada now owns 155,970 shares of the medical instruments supplier’s stock valued at $2,262,000 after purchasing an additional 88,910 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Lakeland Industries by 8.4% during the 3rd quarter. Wells Fargo & Company MN now owns 77,420 shares of the medical instruments supplier’s stock valued at $1,092,000 after purchasing an additional 5,972 shares in the last quarter. Institutional investors own 55.34% of the company’s stock.

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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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