Lakeland Industries (NASDAQ:LAKE) Earns Buy Rating from Analysts at Maxim Group

Maxim Group started coverage on shares of Lakeland Industries (NASDAQ:LAKE) in a research note released on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $22.00 price objective on the medical instruments supplier’s stock.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of Lakeland Industries from a buy rating to a hold rating in a research note on Wednesday, April 3rd. TheStreet raised shares of Lakeland Industries from a c+ rating to a b- rating in a research note on Thursday, February 1st.

Lakeland Industries Trading Up 2.8 %

Shares of Lakeland Industries stock opened at $17.15 on Wednesday. The business has a 50 day moving average price of $16.84 and a 200 day moving average price of $16.47. The company has a market capitalization of $126.40 million, a P/E ratio of 24.16 and a beta of 0.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.53 and a quick ratio of 2.74. Lakeland Industries has a 1 year low of $10.60 and a 1 year high of $19.66.

Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings data on Wednesday, April 10th. The medical instruments supplier reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.08). The company had revenue of $31.20 million during the quarter, compared to analysts’ expectations of $32.50 million. Lakeland Industries had a net margin of 4.33% and a return on equity of 6.63%. Sell-side analysts anticipate that Lakeland Industries will post 1.75 EPS for the current fiscal year.

Lakeland Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Shareholders of record on Thursday, February 15th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Wednesday, February 14th. Lakeland Industries’s payout ratio is 16.90%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC acquired a new position in Lakeland Industries during the third quarter worth approximately $53,000. Bailard Inc. acquired a new stake in shares of Lakeland Industries during the 3rd quarter worth $225,000. Quadrature Capital Ltd purchased a new position in shares of Lakeland Industries in the 4th quarter worth $236,000. Finally, Equitable Trust Co. boosted its holdings in Lakeland Industries by 10.7% in the fourth quarter. Equitable Trust Co. now owns 27,665 shares of the medical instruments supplier’s stock valued at $513,000 after acquiring an additional 2,680 shares during the last quarter. Institutional investors and hedge funds own 71.69% of the company’s stock.

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.