Lakeland Industries (NASDAQ:LAKE) Lifted to “Strong-Buy” at ValuEngine

ValuEngine upgraded shares of Lakeland Industries (NASDAQ:LAKE) from a buy rating to a strong-buy rating in a research report report published on Thursday, ValuEngine reports.

Separately, Zacks Investment Research cut shares of Lakeland Industries from a hold rating to a strong sell rating in a research report on Wednesday, April 24th.

Shares of NASDAQ:LAKE traded down $0.11 during midday trading on Thursday, hitting $10.90. The stock had a trading volume of 7,301 shares, compared to its average volume of 52,477. Lakeland Industries has a 12 month low of $9.70 and a 12 month high of $14.44. The company has a current ratio of 5.01, a quick ratio of 2.09 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $11.04. The firm has a market capitalization of $88.23 million, a P/E ratio of 26.59 and a beta of 0.58.

Lakeland Industries (NASDAQ:LAKE) last released its quarterly earnings data on Monday, June 10th. The medical instruments supplier reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.14). Lakeland Industries had a positive return on equity of 1.22% and a negative net margin of 0.88%. The company had revenue of $24.68 million for the quarter, compared to the consensus estimate of $25.32 million. On average, research analysts predict that Lakeland Industries will post 0.15 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan bought a new position in Lakeland Industries during the fourth quarter worth $306,000. Parthenon LLC boosted its position in Lakeland Industries by 103.9% during the first quarter. Parthenon LLC now owns 85,538 shares of the medical instruments supplier’s stock worth $1,004,000 after purchasing an additional 43,596 shares during the period. North Star Investment Management Corp. boosted its position in Lakeland Industries by 4.6% during the first quarter. North Star Investment Management Corp. now owns 205,950 shares of the medical instruments supplier’s stock worth $2,418,000 after purchasing an additional 9,050 shares during the period. Private Capital Management LLC boosted its position in Lakeland Industries by 28.4% during the first quarter. Private Capital Management LLC now owns 713,265 shares of the medical instruments supplier’s stock worth $8,374,000 after purchasing an additional 157,625 shares during the period. Finally, Kennedy Capital Management Inc. acquired a new stake in shares of Lakeland Industries during the first quarter worth $1,723,000. 61.17% of the stock is owned by hedge funds and other institutional investors.

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. It 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 firefighting and heat protective apparel to protect against fire, burns, and excessive heat.

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