Lakeland Industries, Inc. (LAKE) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Lakeland Industries, Inc. (NASDAQ:LAKE) from a buy rating to a hold rating in a research report report published on Tuesday.

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. “

A number of other research firms have also weighed in on LAKE. ValuEngine lowered shares of Lakeland Industries from a buy rating to a hold rating in a research report on Thursday, July 6th. TheStreet raised shares of Lakeland Industries from a c+ rating to a b rating in a research report on Wednesday, June 28th.

Shares of Lakeland Industries (NASDAQ:LAKE) opened at 13.65 on Tuesday. The company has a 50 day moving average price of $15.41 and a 200 day moving average price of $12.09. Lakeland Industries has a 1-year low of $9.14 and a 1-year high of $17.18. The company has a market capitalization of $99.15 million, a PE ratio of 17.96 and a beta of -0.12.

Lakeland Industries (NASDAQ:LAKE) last posted its quarterly earnings data on Wednesday, June 14th. The medical instruments supplier reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.09. Lakeland Industries had a net margin of 6.31% and a return on equity of 7.87%. The company had revenue of $22.90 million for the quarter, compared to analyst estimates of $21.95 million. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities analysts predict that Lakeland Industries will post $0.81 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Lakeland Industries, Inc. (LAKE) Downgraded by Zacks Investment Research” was first posted by BNB Daily and is the sole property of of BNB Daily. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this news story can be read at https://www.baseball-news-blog.com/2017/08/19/lakeland-industries-inc-lake-downgraded-by-zacks-investment-research.html.

A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in Lakeland Industries by 2.3% in the first quarter. Wellington Management Group LLP now owns 718,839 shares of the medical instruments supplier’s stock worth $7,728,000 after buying an additional 16,200 shares during the period. Dimensional Fund Advisors LP raised its stake in Lakeland Industries by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 439,937 shares of the medical instruments supplier’s stock worth $6,379,000 after buying an additional 14,594 shares during the period. Renaissance Technologies LLC raised its stake in Lakeland Industries by 2.2% in the first quarter. Renaissance Technologies LLC now owns 393,202 shares of the medical instruments supplier’s stock worth $4,227,000 after buying an additional 8,400 shares during the period. Vanguard Group Inc. raised its stake in Lakeland Industries by 0.8% in the second quarter. Vanguard Group Inc. now owns 302,567 shares of the medical instruments supplier’s stock worth $4,387,000 after buying an additional 2,290 shares during the period. Finally, First Wilshire Securities Management Inc. raised its stake in Lakeland Industries by 198.4% in the first quarter. First Wilshire Securities Management Inc. now owns 279,614 shares of the medical instruments supplier’s stock worth $3,006,000 after buying an additional 185,909 shares during the period. 45.05% of the stock is currently owned by institutional investors.

About Lakeland Industries

Lakeland Industries, Inc (Lakeland) manufactures and sells a line of safety garments and accessories for the industrial and public protective clothing market. The Company’s product categories include limited use/disposable protective clothing; high-end chemical protective suits; firefighting, flame resistant personal protective equipment (FR PPE) and heat protective apparel; reusable woven garments; high visibility clothing, and glove and sleeves.

Get a free copy of the Zacks research report on Lakeland Industries (LAKE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Lakeland Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply