Lakeland Industries, Inc. (NASDAQ:LAKE) Short Interest Update

Lakeland Industries, Inc. (NASDAQ:LAKE) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totalling 80,900 shares, a drop of 16.3% from the September 15th total of 96,700 shares. Based on an average daily trading volume, of 42,100 shares, the short-interest ratio is currently 1.9 days. Currently, 1.2% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of Lakeland Industries from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. Roth Mkm raised their target price on shares of Lakeland Industries from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd.

Hedge Funds Weigh In On Lakeland Industries

A number of hedge funds have recently modified their holdings of the business. Total Clarity Wealth Management Inc. bought a new position in Lakeland Industries during the second quarter worth $597,000. Renaissance Technologies LLC raised its stake in Lakeland Industries by 2.7% during the second 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 last quarter. Quadrature Capital Ltd bought a new position in Lakeland Industries during the fourth quarter worth $236,000. Inspire Advisors LLC bought a new position in Lakeland Industries during the second quarter worth $222,000. Finally, High Falls Advisors Inc raised its stake in Lakeland Industries by 35.8% during 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 during the last quarter. Institutional investors and hedge funds own 71.69% of the company’s stock.

Lakeland Industries Price Performance

Shares of NASDAQ:LAKE opened at $19.64 on Wednesday. The firm has a market cap of $144.90 million, a PE ratio of 26.19 and a beta of 0.55. The firm’s fifty day moving average is $21.56 and its 200-day moving average is $20.58. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.00 and a current ratio of 4.24. Lakeland Industries has a 52 week low of $13.86 and a 52 week high of $26.10.

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

Lakeland Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.61%. Lakeland Industries’s dividend payout ratio (DPR) is presently 16.00%.

About Lakeland Industries

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.