Lake Street Capital Analysts Give Lakeland Industries (NASDAQ:LAKE) a $26.00 Price Target

Lake Street Capital set a $26.00 target price on Lakeland Industries (NASDAQ:LAKE) in a research note published on Tuesday morning, MarketBeat reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

Other equities analysts also recently issued reports about the company. Wall Street Zen raised Lakeland Industries to a “sell” rating in a research report on Wednesday, May 7th. DA Davidson dropped their target price on Lakeland Industries from $28.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th.

Lakeland Industries Stock Up 1.1%

Shares of NASDAQ:LAKE opened at $15.34 on Tuesday. The business has a 50-day moving average price of $17.31 and a 200 day moving average price of $20.96. The company has a current ratio of 4.23, a quick ratio of 1.77 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $145.90 million, a price-to-earnings ratio of -170.44 and a beta of 1.13. Lakeland Industries has a 12-month low of $14.00 and a 12-month high of $27.28.

Lakeland Industries (NASDAQ:LAKE) last released its earnings results on Monday, June 9th. The medical instruments supplier reported ($0.41) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.68). The firm had revenue of $46.75 million during the quarter, compared to analyst estimates of $48.84 million. Lakeland Industries had a negative net margin of 0.42% and a positive return on equity of 1.66%. During the same period in the prior year, the firm earned $0.22 earnings per share. Sell-side analysts expect that Lakeland Industries will post 0.48 EPS for the current year.

Lakeland Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, May 15th. Lakeland Industries’s dividend payout ratio is presently -3.99%.

Hedge Funds Weigh In On Lakeland Industries

A number of institutional investors and hedge funds have recently made changes to their positions in LAKE. Jane Street Group LLC purchased a new stake in Lakeland Industries during the fourth quarter worth approximately $494,000. Delta Investment Management LLC purchased a new stake in Lakeland Industries during the fourth quarter worth approximately $445,000. Millennium Management LLC lifted its stake in Lakeland Industries by 166.1% during the fourth quarter. Millennium Management LLC now owns 27,783 shares of the medical instruments supplier’s stock worth $710,000 after purchasing an additional 17,344 shares during the last quarter. First Eagle Investment Management LLC purchased a new stake in Lakeland Industries during the fourth quarter worth approximately $571,000. Finally, Susquehanna International Group LLP lifted its stake in Lakeland Industries by 261.9% during the fourth quarter. Susquehanna International Group LLP now owns 98,419 shares of the medical instruments supplier’s stock worth $2,515,000 after purchasing an additional 71,224 shares during the last quarter. 71.69% of the stock is owned by institutional investors and hedge funds.

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.