Lakeland Industries (NASDAQ:LAKE) Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of Lakeland Industries (NASDAQ:LAKE) from a hold rating to a strong sell rating in a report issued on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of Lakeland Industries from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 29th. Roth Capital set a $17.00 price objective on shares of Lakeland Industries in a research report on Thursday. Finally, DA Davidson raised their target price on Lakeland Industries from $14.00 to $18.00 and gave the company a “buy” rating in a research note 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.00.

Lakeland Industries Price Performance

Lakeland Industries stock opened at $10.38 on Friday. The stock has a market capitalization of $103.07 million, a price-to-earnings ratio of -3.83 and a beta of 1.45. Lakeland Industries has a 52-week low of $7.15 and a 52-week high of $18.00. The stock’s 50 day moving average price is $11.45 and its two-hundred day moving average price is $10.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.34 and a current ratio of 2.98.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings data on Wednesday, September 9th. The medical instruments supplier reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.44). Lakeland Industries had a negative net margin of 13.99% and a negative return on equity of 11.35%. The company had revenue of $50.14 million during the quarter, compared to the consensus estimate of $51.36 million. On average, equities analysts predict that Lakeland Industries will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LAKE. Bank of New York Mellon Corp increased its position in shares of Lakeland Industries by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 75,107 shares of the medical instruments supplier’s stock worth $615,000 after acquiring an additional 1,479 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in shares of Lakeland Industries in the 2nd quarter worth about $38,000. Ancora Advisors LLC bought a new position in Lakeland Industries in the 2nd quarter valued at about $54,000. Expect Equity LLC lifted its position in Lakeland Industries by 6.9% in the 4th quarter. Expect Equity LLC now owns 166,061 shares of the medical instruments supplier’s stock valued at $1,468,000 after acquiring an additional 10,705 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in Lakeland Industries during the 1st quarter valued at about $88,000. 71.69% of the stock is 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.