Lakeland Industries (NASDAQ:LAKE) Announces Quarterly Earnings Results

by · The Markets Daily

Lakeland Industries (NASDAQ:LAKE – Get Free Report) posted its earnings results on Tuesday. The medical instruments supplier reported $999.00 EPS for the quarter, topping the consensus estimate of ($0.14) by $999.14, Zacks reports. Lakeland Industries had a negative net margin of 13.14% and a negative return on equity of 9.57%.

Lakeland Industries Stock Performance

Shares of NASDAQ:LAKE traded up $0.25 during midday trading on Tuesday, hitting $9.66. The company’s stock had a trading volume of 166,188 shares, compared to its average volume of 111,691. The stock has a market capitalization of $95.23 million, a price-to-earnings ratio of -3.74 and a beta of 1.45. The stock’s 50 day simple moving average is $9.83 and its 200 day simple moving average is $9.90. Lakeland Industries has a fifty-two week low of $7.15 and a fifty-two week high of $18.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.36 and a current ratio of 3.53.

Institutional Investors Weigh In On Lakeland Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its position in shares of Lakeland Industries by 87.8% in the third quarter. BNP Paribas Financial Markets now owns 1,795 shares of the medical instruments supplier’s stock valued at $27,000 after purchasing an additional 839 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Lakeland Industries by 189.9% in the second quarter. Bank of America Corp DE now owns 4,177 shares of the medical instruments supplier’s stock valued at $57,000 after buying an additional 2,736 shares during the period. JPMorgan Chase & Co. bought a new stake in shares of Lakeland Industries in the second quarter valued at about $59,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Lakeland Industries in the second quarter valued at about $68,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Lakeland Industries by 35.5% in the fourth quarter. Wells Fargo & Company MN now owns 9,514 shares of the medical instruments supplier’s stock valued at $84,000 after buying an additional 2,492 shares during the period. 71.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Lake Street Capital lowered their target price 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. Maxim Group set a $16.00 target price on shares of Lakeland Industries in a research report on Monday, April 20th. DA Davidson raised Lakeland Industries from a “neutral” rating to a “buy” rating and raised their price target for the company from $10.00 to $14.00 in a research report on Monday, April 20th. Zacks Research raised Lakeland Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Finally, Wall Street Zen raised Lakeland Industries from a “strong sell” rating to a “sell” rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Lakeland Industries has a consensus rating of “Hold” and a consensus target price of $15.20.

View Our Latest Research Report on LAKE

About Lakeland Industries

(Get Free Report)

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.

Read More