Lakeland Industries (NASDAQ:LAKE) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Lakeland Industries (NASDAQ:LAKE) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.

Separately, Roth Mkm upped their target price on Lakeland Industries from $25.00 to $27.00 and gave the company a buy rating in a report on Wednesday, July 3rd.

Lakeland Industries Stock Up 0.2 %

NASDAQ LAKE traded up $0.04 on Thursday, reaching $19.48. The company had a trading volume of 306 shares, compared to its average volume of 37,344. The company has a quick ratio of 2.00, a current ratio of 4.24 and a debt-to-equity ratio of 0.24. The company’s fifty day moving average is $21.71 and its 200 day moving average is $20.47. Lakeland Industries has a 52-week low of $13.86 and a 52-week high of $26.10. The stock has a market capitalization of $144.15 million, a P/E ratio of 81.00 and a beta of 0.55.

Lakeland Industries (NASDAQ:LAKE) last announced its earnings results on Wednesday, September 4th. The medical instruments supplier reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.42 by ($0.61). Lakeland Industries had a net margin of 1.38% and a return on equity of 3.70%. The firm had revenue of $38.51 million during the quarter, compared to analysts’ expectations of $41.10 million. During the same quarter in the prior year, the company earned $0.32 EPS. Sell-side analysts anticipate that Lakeland Industries will post 0.96 earnings per share for the current fiscal year.

Lakeland Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, August 15th. Lakeland Industries’s payout ratio is 50.00%.

Hedge Funds Weigh In On Lakeland Industries

Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in Lakeland Industries by 2.7% in the 2nd quarter. Renaissance Technologies LLC now owns 499,202 shares of the medical instruments supplier’s stock worth $11,452,000 after buying an additional 13,200 shares during the period. North Star Investment Management Corp. boosted its stake in Lakeland Industries by 0.9% in the 1st quarter. North Star Investment Management Corp. now owns 168,573 shares of the medical instruments supplier’s stock worth $3,085,000 after purchasing an additional 1,503 shares during the period. Total Clarity Wealth Management Inc. purchased a new stake in shares of Lakeland Industries in the second quarter worth about $597,000. High Falls Advisors Inc lifted its holdings in shares of Lakeland Industries by 35.8% in the second quarter. High Falls Advisors Inc now owns 19,472 shares of the medical instruments supplier’s stock worth $447,000 after buying an additional 5,137 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its position in shares of Lakeland Industries by 47.0% in the first quarter. Quadrature Capital Ltd now owns 18,641 shares of the medical instruments supplier’s stock valued at $339,000 after acquiring an additional 5,957 shares during the period. 71.69% of the stock is owned by institutional investors.

Lakeland Industries Company Profile

Lakeland Industries, Inc manufactures and sells industrial protective clothing and accessories for the industrial and public protective clothing market worldwide. It offers firefighting and heat protective apparel to protect against fire; high-end chemical protective suits to provide protection from highly concentrated, toxic and/or lethal chemicals, and biological toxins; and limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks.