Lakeland Industries (NASDAQ:LAKE) Downgraded to Sell at StockNews.com

StockNews.com lowered shares of Lakeland Industries (NASDAQ:LAKE) from a hold rating to a sell rating in a research report report published on Monday morning.

LAKE has been the subject of several other reports. Roth Mkm lifted their price target on Lakeland Industries from $25.00 to $27.00 and gave the company a buy rating in a research report on Wednesday, July 3rd. Maxim Group lifted their target price on Lakeland Industries from $22.00 to $26.00 and gave the company a buy rating in a report on Thursday, June 6th.

Lakeland Industries Stock Performance

NASDAQ LAKE opened at $19.57 on Monday. The company has a market capitalization of $144.82 million, a PE ratio of 26.09 and a beta of 0.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.74 and a current ratio of 5.39. Lakeland Industries has a 52-week low of $13.86 and a 52-week high of $26.10. The company has a 50-day simple moving average of $23.17 and a 200 day simple moving average of $19.98.

Lakeland Industries (NASDAQ:LAKE) last issued its quarterly earnings results on Wednesday, September 4th. The medical instruments supplier reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.61). Lakeland Industries had a return on equity of 3.70% and a net margin of 1.38%. The company had revenue of $38.51 million for the quarter, compared to analysts’ expectations of $41.10 million. During the same quarter in the previous year, the business earned $0.32 EPS. On average, research analysts predict that Lakeland Industries will post 1.51 EPS for the current year.

Lakeland Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.61%. Lakeland Industries’s dividend payout ratio (DPR) is presently 16.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Inspire Advisors LLC purchased a new position in Lakeland Industries in the 2nd quarter worth approximately $222,000. Hillsdale Investment Management Inc. increased its stake in Lakeland Industries by 37.2% in the first quarter. Hillsdale Investment Management Inc. now owns 10,700 shares of the medical instruments supplier’s stock valued at $196,000 after acquiring an additional 2,900 shares during the last quarter. Empowered Funds LLC raised its position in Lakeland Industries by 6.9% during the first quarter. Empowered Funds LLC now owns 10,873 shares of the medical instruments supplier’s stock valued at $199,000 after purchasing an additional 700 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Lakeland Industries during the fourth quarter worth about $236,000. Finally, High Falls Advisors Inc boosted its holdings in shares of Lakeland Industries by 35.8% in the 2nd quarter. High Falls Advisors Inc now owns 19,472 shares of the medical instruments supplier’s stock worth $447,000 after purchasing an additional 5,137 shares in the last quarter. 71.69% of the stock is currently owned by institutional investors.

About Lakeland Industries

Lakeland Industries, Inc manufactures and sells industrial protective clothing and accessories for the industrial and public protective clothing market worldwide. It offers firefighting and heat protective apparel to protect against fire; high-end chemical protective suits to provide protection from highly concentrated, toxic and/or lethal chemicals, and biological toxins; and limited use/disposable protective clothing, such as coveralls, laboratory coats, shirts, pants, hoods, aprons, sleeves, arm guards, caps, and smocks.