Lakeland Industries, Inc. (NASDAQ:LAKE) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 25,900 shares, an increase of 100.8% from the September 15th total of 12,900 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 15,300 shares, the days-to-cover ratio is currently 1.7 days.
LAKE has been the topic of several recent analyst reports. Roth Capital set a $15.00 price target on Lakeland Industries and gave the stock a “buy” rating in a report on Tuesday, September 10th. Zacks Investment Research upgraded Lakeland Industries from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Thursday, September 12th. Finally, ValuEngine downgraded Lakeland Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th.
Hedge funds and other institutional investors have recently modified their holdings of the company. Private Capital Management LLC raised its holdings in shares of Lakeland Industries by 2.6% in the second quarter. Private Capital Management LLC now owns 731,998 shares of the medical instruments supplier’s stock worth $8,198,000 after buying an additional 18,733 shares during the period. North Star Investment Management Corp. grew its stake in Lakeland Industries by 7.7% in the third quarter. North Star Investment Management Corp. now owns 221,850 shares of the medical instruments supplier’s stock worth $2,689,000 after purchasing an additional 15,900 shares in the last quarter. Dalton Greiner Hartman Maher & Co. bought a new position in Lakeland Industries in the third quarter worth approximately $390,000. BlackRock Inc. grew its stake in Lakeland Industries by 6.4% in the second quarter. BlackRock Inc. now owns 48,078 shares of the medical instruments supplier’s stock worth $539,000 after purchasing an additional 2,890 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Lakeland Industries by 3.4% in the second quarter. Vanguard Group Inc. now owns 316,934 shares of the medical instruments supplier’s stock worth $3,550,000 after purchasing an additional 10,278 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.
Shares of NASDAQ LAKE traded down $0.21 during midday trading on Monday, hitting $10.95. The company’s stock had a trading volume of 29,500 shares, compared to its average volume of 19,816. The company has a current ratio of 5.49, a quick ratio of 2.10 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $11.50 and its two-hundred day moving average is $11.50. Lakeland Industries has a 12-month low of $9.70 and a 12-month high of $14.44. The firm has a market cap of $88.61 million, a P/E ratio of 26.71 and a beta of 0.67.
Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings results on Monday, September 9th. The medical instruments supplier reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.16. Lakeland Industries had a positive return on equity of 1.67% and a negative net margin of 0.49%. The firm had revenue of $27.47 million for the quarter, compared to the consensus estimate of $25.62 million. On average, analysts predict that Lakeland Industries will post 0.45 earnings per share for the current fiscal year.
About Lakeland Industries
Lakeland Industries, Inc manufactures and sells a range of safety garments and accessories for the industrial and public protective clothing market in the United States and internationally. It offers limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks; high-end chemical protective suits to provide protection from highly concentrated, and hazardous chemical and biological toxins; and firefighting and heat protective apparel to protect against fire, burns, and excessive heat.
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