Lakeland Industries (NASDAQ:LAKE) Stock Crosses Above 200 Day Moving Average – What’s Next?

Lakeland Industries, Inc. (NASDAQ:LAKE)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.56 and traded as high as $10.48. Lakeland Industries shares last traded at $10.42, with a volume of 66,793 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on LAKE shares. Lake Street Capital dropped their target price on shares of Lakeland Industries from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, April 17th. DA Davidson upped their price target on shares of Lakeland Industries from $14.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Maxim Group set a $16.00 price target on Lakeland Industries in a research report on Monday, April 20th. Weiss Ratings lowered Lakeland Industries from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Finally, Wall Street Zen raised Lakeland Industries from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.00.

Lakeland Industries Trading Down 1.4%

The company has a current ratio of 3.09, a quick ratio of 1.34 and a debt-to-equity ratio of 0.20. The business’s fifty day simple moving average is $10.27 and its two-hundred day simple moving average is $9.53. The stock has a market capitalization of $106.79 million, a P/E ratio of -5.08 and a beta of 1.45.

Lakeland Industries (NASDAQ:LAKE) last posted its quarterly earnings data 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 company had revenue of $47.42 million for the quarter, compared to the consensus estimate of $47.36 million. As a group, analysts forecast that Lakeland Industries, Inc. will post 0.22 earnings per share for the current year.

Hedge Funds Weigh In On Lakeland Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP lifted its position in shares of Lakeland Industries by 10.0% in the 3rd quarter. Royce & Associates LP now owns 1,178,670 shares of the medical instruments supplier’s stock worth $17,444,000 after acquiring an additional 107,100 shares during the period. Pacific Ridge Capital Partners LLC increased its position in shares of Lakeland Industries by 62.3% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 772,015 shares of the medical instruments supplier’s stock valued at $6,825,000 after purchasing an additional 296,222 shares during the period. Peapod Lane Capital LLC acquired a new position in shares of Lakeland Industries in the fourth quarter valued at $604,000. Sei Investments Co. acquired a new position in shares of Lakeland Industries in the first quarter valued at $88,000. Finally, Bank of New York Mellon Corp lifted its position in Lakeland Industries by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 75,107 shares of the medical instruments supplier’s stock worth $615,000 after purchasing an additional 1,479 shares during the period. 71.69% of the stock is currently owned by institutional investors.

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.