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.
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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