Lakeland Industries (NASDAQ:LAKE) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Lakeland Industries (NASDAQ:LAKE) from a hold rating to a sell rating in a research note released on Friday.

Separately, Roth Mkm lifted their price target on shares of Lakeland Industries from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd.

Lakeland Industries Trading Up 0.4 %

NASDAQ:LAKE opened at $20.71 on Friday. Lakeland Industries has a 12 month low of $13.86 and a 12 month high of $26.10. The company has a current ratio of 4.24, a quick ratio of 2.00 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $21.45 and its 200 day moving average is $20.60. The stock has a market capitalization of $152.80 million, a PE ratio of 27.61 and a beta of 0.55.

Lakeland Industries (NASDAQ:LAKE) last posted its quarterly earnings results on Wednesday, September 4th. The medical instruments supplier reported ($0.19) earnings per share (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 business had revenue of $38.51 million during the quarter, compared to the consensus estimate of $41.10 million. During the same period last year, the firm earned $0.32 EPS. Sell-side analysts expect that Lakeland Industries will post 0.96 earnings per share for the current year.

Lakeland Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Thursday, August 15th. Lakeland Industries’s dividend payout ratio (DPR) is presently 16.00%.

Hedge Funds Weigh In On Lakeland Industries

A number of large investors have recently bought and sold shares of the stock. Total Clarity Wealth Management Inc. bought a new position in shares of Lakeland Industries in the second quarter worth approximately $597,000. Renaissance Technologies LLC grew 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 acquiring an additional 13,200 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Lakeland Industries in the fourth quarter valued at about $236,000. Inspire Advisors LLC purchased a new position in shares of Lakeland Industries in the second quarter valued at about $222,000. Finally, High Falls Advisors Inc raised its stake in shares of 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 valued at $447,000 after acquiring an additional 5,137 shares during the last quarter. 71.69% of the stock is owned by hedge funds and other 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.