Zacks Investment Research Lowers Lakeland Industries (LAKE) to Hold

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Zacks Investment Research lowered shares of Lakeland Industries (NASDAQ:LAKE) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday, June 20th.

According to Zacks, “LAKELAND INDUSTRIES, INC. has five divisions and three wholly-owned subsidiaries: One large division manufactures disposable/limited use garments and the four smaller divisions, Chemland, manufactures suits for use by toxic waste clean up teams; Fireland Fyrepel Products, manufactures fire and heat protective apparel and protective systems for personnel; Highland, manufactures specialty safety and industrial work gloves and Uniland, manufactures industrial and medical woven cloth garments. “

Separately, ValuEngine lowered shares of Lakeland Industries from a buy rating to a hold rating in a report on Wednesday, April 18th.

Shares of LAKE stock opened at $14.15 on Wednesday. The company has a quick ratio of 3.08, a current ratio of 6.98 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $114.44 million, a price-to-earnings ratio of 20.14, a PEG ratio of 1.41 and a beta of 0.16. Lakeland Industries has a one year low of $12.20 and a one year high of $17.18.

Lakeland Industries (NASDAQ:LAKE) last posted its earnings results on Monday, April 16th. The medical instruments supplier reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.20). Lakeland Industries had a return on equity of 6.91% and a net margin of 0.61%. The company had revenue of $25.16 million for the quarter, compared to analyst estimates of $22.15 million. equities research analysts predict that Lakeland Industries will post 1 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Polar Asset Management Partners Inc. lifted its position in shares of Lakeland Industries by 71.0% in the 1st quarter. Polar Asset Management Partners Inc. now owns 196,603 shares of the medical instruments supplier’s stock worth $2,546,000 after purchasing an additional 81,603 shares during the period. Ancora Advisors LLC lifted its position in shares of Lakeland Industries by 2.8% during the 1st quarter. Ancora Advisors LLC now owns 301,092 shares of the medical instruments supplier’s stock valued at $3,899,000 after acquiring an additional 8,327 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Lakeland Industries by 9.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 614,649 shares of the medical instruments supplier’s stock valued at $7,960,000 after acquiring an additional 53,064 shares during the period. Wells Fargo & Company MN lifted its position in shares of Lakeland Industries by 5.3% during the 1st quarter. Wells Fargo & Company MN now owns 146,482 shares of the medical instruments supplier’s stock valued at $1,897,000 after acquiring an additional 7,428 shares during the period. Finally, Macquarie Group Ltd. lifted its position in shares of Lakeland Industries by 56.6% during the 4th quarter. Macquarie Group Ltd. now owns 38,064 shares of the medical instruments supplier’s stock valued at $554,000 after acquiring an additional 13,753 shares during the period. Hedge funds and other institutional investors own 57.61% of the company’s stock.

Lakeland Industries Company Profile

Lakeland Industries, Inc manufactures and sells a range of safety garments and accessories for the industrial and public protective clothing market in the United States and internationally. The company offers limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks; high-end chemical protective suits to provide protection from highly concentrated, and hazardous chemical and biological toxins; and fire fighting and heat protective apparel, which protects against fire, burns, and excessive heat.

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