Lakeland Industries (NASDAQ:LAKE) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Lakeland Industries, Inc. (NASDAQ:LAKE)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.56 and traded as high as $10.48. Lakeland Industries shares last traded at $10.42, with a volume of 66,793 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LAKE. Weiss Ratings downgraded shares of Lakeland Industries from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. DA Davidson lifted their price objective on Lakeland Industries from $14.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Maxim Group set a $16.00 target price on Lakeland Industries in a research note on Monday, April 20th. Lake Street Capital dropped their target price on Lakeland Industries from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, April 17th. Finally, Wall Street Zen raised Lakeland Industries from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.00.

Lakeland Industries Trading Up 6.7%

The company has a market cap of $102.85 million, a price-to-earnings ratio of -4.89 and a beta of 1.45. The company’s 50 day moving average price is $10.23 and its 200 day moving average price is $9.56. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.34 and a current ratio of 3.09.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings data on Tuesday, June 9th. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.18. Lakeland Industries had a negative net margin of 10.87% and a negative return on equity of 6.64%. The business had revenue of $47.42 million during the quarter, compared to analyst estimates of $47.36 million. Research analysts anticipate that Lakeland Industries, Inc. will post 0.22 EPS for the current year.

Hedge Funds Weigh In On Lakeland Industries

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its position in shares of Lakeland Industries by 87.8% in the third quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier’s stock worth $27,000 after buying an additional 839 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Lakeland Industries by 189.9% during the 2nd quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier’s stock valued at $57,000 after acquiring an additional 2,736 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Lakeland Industries during the 2nd quarter valued at about $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Lakeland Industries in the 2nd quarter valued at approximately $68,000. Finally, New York State Common Retirement Fund bought a new position in shares of Lakeland Industries in the 2nd quarter valued at approximately $105,000. 71.69% of the stock is currently owned by institutional investors.

About Lakeland Industries

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.