Lakeland Industries (NASDAQ:LAKE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage presently has a $15.00 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.11% from the company’s current price.
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. “
Several other analysts have also recently weighed in on the company. Roth Capital assumed coverage on Lakeland Industries in a report on Wednesday, April 15th. They set a “buy” rating and a $18.50 price target on the stock. TheStreet upgraded Lakeland Industries from a “c” rating to a “b-” rating in a report on Wednesday, February 26th. Finally, Craig Hallum boosted their price target on Lakeland Industries from $16.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $18.50.
Lakeland Industries (NASDAQ:LAKE) last released its earnings results on Wednesday, April 15th. The medical instruments supplier reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. The firm had revenue of $28.20 million for the quarter. Lakeland Industries had a return on equity of 4.26% and a net margin of 3.04%. As a group, research analysts predict that Lakeland Industries will post 0.78 EPS for the current fiscal year.
In related news, Director Christopher James Ryan sold 31,352 shares of Lakeland Industries stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $16.54, for a total value of $518,562.08. Following the transaction, the director now directly owns 394,602 shares of the company’s stock, valued at $6,526,717.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.90% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of LAKE. Catalyst Capital Advisors LLC bought a new stake in Lakeland Industries during the first quarter worth $28,000. UBS Group AG bought a new stake in Lakeland Industries during the fourth quarter worth $33,000. Advisor Group Holdings Inc. bought a new stake in Lakeland Industries during the first quarter worth $89,000. Tower Research Capital LLC TRC grew its holdings in Lakeland Industries by 359.4% during the first quarter. Tower Research Capital LLC TRC now owns 6,151 shares of the medical instruments supplier’s stock worth $95,000 after buying an additional 4,812 shares in the last quarter. Finally, Blair William & Co. IL bought a new stake in Lakeland Industries during the fourth quarter worth $157,000. 61.85% of the stock is currently owned by hedge funds and other institutional investors.
About Lakeland Industries
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.
Read More: What is Elliott Wave theory?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Lakeland Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Industries and related companies with MarketBeat.com's FREE daily email newsletter.