Lakeland Industries (NASDAQ:LAKE) Stock Rating Lowered by Wall Street Zen

Lakeland Industries (NASDAQ:LAKE) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings cut Lakeland Industries from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. Maxim Group set a $16.00 price objective on shares of Lakeland Industries in a research report on Monday, April 20th. Lake Street Capital reduced their target price on Lakeland Industries from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, April 17th. Finally, DA Davidson raised their target price on shares of Lakeland Industries from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Three equities 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.00.

Lakeland Industries Trading Down 0.2%

Shares of LAKE stock opened at $10.80 on Friday. 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 has a 52-week low of $7.15 and a 52-week high of $18.00. The stock has a fifty day simple moving average of $10.32 and a two-hundred day simple moving average of $9.50. The firm has a market capitalization of $106.60 million, a PE ratio of -5.07 and a beta of 1.45.

Lakeland Industries (NASDAQ:LAKE) last issued its earnings results 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 return on equity of 6.64% and a negative net margin of 10.87%.The company had revenue of $47.42 million for the quarter, compared to the consensus estimate of $47.36 million. On average, analysts predict that Lakeland Industries will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Lakeland Industries

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its position in Lakeland Industries by 87.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier’s stock valued at $27,000 after buying an additional 839 shares in the last quarter. Bank of America Corp DE raised its position in 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 worth $57,000 after buying an additional 2,736 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Lakeland Industries during the second quarter worth $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Lakeland Industries during the 2nd quarter valued at about $68,000. Finally, New York State Common Retirement Fund purchased a new position in Lakeland Industries during the second quarter valued at approximately $105,000. 71.69% of the stock is owned by institutional investors and hedge funds.

Lakeland Industries Company Profile

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.