Home Apparel market Lakeland Industries (NASDAQ: LAKE) stock rating downgraded by Zacks Investment Research

Lakeland Industries (NASDAQ: LAKE) stock rating downgraded by Zacks Investment Research

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Lakeland Industries (NASDAQ: LAKE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released Saturday, Zacks.com reports.

According to Zacks, “LAKELAND INDUSTRIES, INC. has five divisions and three wholly-owned subsidiaries: one large division manufactures disposable / limited-use clothing and the four smaller divisions, Chemland, manufacture coveralls for toxic waste cleanup crews; Fireland Fyrepel Products, manufactures fire and heat protective clothing and personnel protection systems; Highland, manufactures specialized industrial work and safety gloves, and Uniland, manufactures woven fabric industrial and medical garments. “

Lakeland Industries shares opened at $ 20.38 on Friday. Lakeland Industries has a one-year low at $ 18.58 and a one-year high at $ 47.95. The company has a 50-day moving average of $ 20.28 and a two-hundred-day moving average of $ 22.17. The company has a market cap of $ 158.45 million and a P / E ratio of 9.35.

Lakeland Industries (NASDAQ: LAKE) last reported its quarterly results on Thursday, December 9. The medical device supplier reported earnings per share (EPS) of $ 0.35 for the quarter, beating the consensus estimate of $ 0.34 by $ 0.01. Lakeland Industries reported a return on equity of 14.27% and a net margin of 13.90%. During the same period of the previous year, the company achieved earnings per share of $ 1.14. On average, equity research analysts expect Lakeland Industries to post EPS of 1.65 for the current fiscal year.

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A number of large investors have recently increased or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Lakeland Industries by 5.2% during the 3rd quarter. Wellington Management Group LLP now owns 698,623 shares of the medical device supplier valued at $ 14,671,000 after acquiring 34,400 additional shares during the period. Dimensional Fund Advisors LP increased its holdings of shares of Lakeland Industries by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 549,340 shares of the medical device supplier valued at $ 12,267,000 after purchasing an additional 11,464 shares in the last quarter. Wells Fargo & Company MN increased its stake in Lakeland Industries shares by 28.7% in the 2nd quarter. Wells Fargo & Company MN now owns 265,213 shares of the medical device supplier valued at $ 5,923,000 after purchasing an additional 59,140 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Lakeland Industries by 217.0% in the 2nd quarter. Millennium Management LLC now owns 225,843 shares of the medical device supplier valued at $ 5,043,000 after purchasing an additional 154,589 shares in the last quarter. Finally, North Star Investment Management Corp. increased its stake in Lakeland Industries shares by 2.6% in the third quarter. North Star Investment Management Corp. now owns 170,725 shares of the medical device supplier valued at $ 3,585,000 after purchasing an additional 4,325 shares in the last quarter. Hedge funds and other institutional investors hold 59.90% of the company’s shares.

About Lakeland Industries

Lakeland Industries, Inc. is engaged in the manufacture and sale of safety clothing and accessories for the industrial and public protective clothing market. Its products include disposable protective clothing, chemical protective clothing, woven protective clothing, fire protective clothing, heat protective clothing, reflective protective clothing, protective clothing for hands and arms, arc or fire resistant rain gear and flame retardant protective clothing.

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