Lakeland Industries (NASDAQ:LAKE) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Lakeland Industries, Inc. (NASDAQ:LAKE)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.95 and traded as high as $12.70. Lakeland Industries shares last traded at $11.87, with a volume of 93,777 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded Lakeland Industries from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings raised shares of Lakeland Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. Maxim Group set a $16.00 price target on Lakeland Industries in a research note on Monday, April 20th. Lake Street Capital cut their price objective on shares of Lakeland Industries from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, April 17th. Finally, DA Davidson increased their target price on Lakeland Industries from $14.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.00.

Lakeland Industries Stock Performance

The company has a 50-day moving average price of $10.92 and a two-hundred day moving average price of $9.95. The company has a quick ratio of 1.34, a current ratio of 3.09 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $117.15 million, a PE ratio of -5.57 and a beta of 1.43.

Lakeland Industries (NASDAQ:LAKE) last posted its earnings results on Tuesday, June 9th. The medical instruments supplier reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.18. Lakeland Industries had a negative net margin of 10.87% and a negative return on equity of 6.64%. The business had revenue of $47.42 million for the quarter, compared to analysts’ expectations of $47.36 million. Analysts predict that Lakeland Industries, Inc. will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Lakeland Industries

A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of Lakeland Industries during the 2nd quarter valued at about $602,000. Marquette Asset Management LLC bought a new stake in Lakeland Industries in the 2nd quarter worth $300,000. Bank of America Corp DE increased its holdings in Lakeland Industries by 173.9% during the 1st quarter. Bank of America Corp DE now owns 19,169 shares of the medical instruments supplier’s stock valued at $157,000 after purchasing an additional 12,171 shares during the period. Sei Investments Co. purchased a new position in shares of Lakeland Industries during the first quarter valued at approximately $88,000. Finally, Equitable Trust Co. raised its holdings in Lakeland Industries by 48.5% in the 1st quarter. Equitable Trust Co. now owns 44,530 shares of the medical instruments supplier’s stock worth $365,000 after purchasing an additional 14,540 shares in the last quarter. Hedge funds and other institutional investors own 71.69% of the company’s stock.

Lakeland Industries Company Profile

Lakeland Industries, Inc (NASDAQ:LAKE) is a global provider of high-performance protective apparel and accessories designed to safeguard workers in industrial, healthcare, laboratory, and emergency response environments. The company’s expertise lies in producing garments that shield against chemical, biological, radiological, and thermal risks, supporting safety protocols in sectors such as oil and gas, petrochemicals, pharmaceuticals, and first responders.

The product portfolio encompasses both single-use and reusable solutions, including chemical protective coveralls, flame-resistant garments, arc flash clothing, medical isolation gowns, and cleanroom suits.