Lakeland Industries, Inc. (NASDAQ:LAKE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Lakeland Industries, Inc. (NASDAQ:LAKE) has earned an average rating of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $25.00.

LAKE has been the topic of a number of research analyst reports. DA Davidson reduced their target price on Lakeland Industries from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, September 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lakeland Industries in a research note on Wednesday, October 8th. Wall Street Zen upgraded Lakeland Industries from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Zacks Research upgraded shares of Lakeland Industries from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 17th.

Lakeland Industries Stock Performance

Shares of LAKE stock opened at $14.12 on Friday. The company has a quick ratio of 1.41, a current ratio of 3.66 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average of $15.64 and a 200 day moving average of $15.48. The firm has a market capitalization of $135.14 million, a price-to-earnings ratio of -5.15 and a beta of 1.16. Lakeland Industries has a 52 week low of $12.76 and a 52 week high of $27.28.

Lakeland Industries (NASDAQ:LAKE) last posted its earnings results on Wednesday, September 21st. The medical instruments supplier reported $0.36 EPS for the quarter. Lakeland Industries had a negative net margin of 11.22% and a negative return on equity of 3.07%. The firm had revenue of $27.47 million during the quarter. As a group, research analysts expect that Lakeland Industries will post 0.48 earnings per share for the current year.

Lakeland Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 17th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.8%. Lakeland Industries’s dividend payout ratio (DPR) is currently -4.38%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LAKE. Kennedy Capital Management LLC purchased a new position in Lakeland Industries during the third quarter valued at $2,287,000. Ancora Advisors LLC boosted its stake in Lakeland Industries by 85.1% in the 1st quarter. Ancora Advisors LLC now owns 276,688 shares of the medical instruments supplier’s stock worth $5,620,000 after purchasing an additional 127,195 shares in the last quarter. Geode Capital Management LLC boosted its stake in Lakeland Industries by 115.9% in the 2nd quarter. Geode Capital Management LLC now owns 217,786 shares of the medical instruments supplier’s stock worth $2,964,000 after purchasing an additional 116,901 shares in the last quarter. Russell Investments Group Ltd. grew its position in Lakeland Industries by 1,720.2% during the 1st quarter. Russell Investments Group Ltd. now owns 114,017 shares of the medical instruments supplier’s stock valued at $2,316,000 after purchasing an additional 107,753 shares during the last quarter. Finally, Royce & Associates LP increased its stake in Lakeland Industries by 10.0% during the 3rd quarter. Royce & Associates LP now owns 1,178,670 shares of the medical instruments supplier’s stock valued at $17,444,000 after purchasing an additional 107,100 shares in the last quarter. Institutional investors 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.