Lakeland Industries (NASDAQ:LAKE) Upgraded to Strong-Buy at DA Davidson

DA Davidson upgraded shares of Lakeland Industries (NASDAQ:LAKE) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts also recently commented on the company. Lake Street Capital began coverage on Lakeland Industries in a research report on Tuesday, March 11th. They set a “buy” rating and a $30.00 target price on the stock. Roth Mkm lifted their price target on Lakeland Industries from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.25.

Lakeland Industries Price Performance

LAKE stock opened at $20.30 on Tuesday. The company has a market cap of $192.83 million, a price-to-earnings ratio of -225.56 and a beta of 0.96. The company has a current ratio of 4.23, a quick ratio of 1.77 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $22.74 and a 200-day moving average of $22.04. Lakeland Industries has a 12-month low of $15.10 and a 12-month high of $27.28.

Lakeland Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 17th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Friday, February 14th. Lakeland Industries’s payout ratio is currently -133.33%.

Insider Buying and Selling

In other news, insider Laurel A. Yartz purchased 2,272 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were bought at an average cost of $22.00 per share, with a total value of $49,984.00. Following the purchase, the insider now directly owns 9,772 shares of the company’s stock, valued at approximately $214,984. This trade represents a 30.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James M. Jenkins acquired 990 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was purchased at an average cost of $25.35 per share, with a total value of $25,096.50. Following the transaction, the chief executive officer now owns 990 shares of the company’s stock, valued at approximately $25,096.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 8,988 shares of company stock worth $202,283. 4.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lakeland Industries

Hedge funds have recently made changes to their positions in the business. Delta Investment Management LLC purchased a new position in Lakeland Industries during the fourth quarter worth about $445,000. Private Capital Management LLC boosted its position in shares of Lakeland Industries by 0.4% in the fourth quarter. Private Capital Management LLC now owns 1,007,391 shares of the medical instruments supplier’s stock worth $25,739,000 after acquiring an additional 4,092 shares during the last quarter. Millennium Management LLC boosted its position in shares of Lakeland Industries by 166.1% in the fourth quarter. Millennium Management LLC now owns 27,783 shares of the medical instruments supplier’s stock worth $710,000 after acquiring an additional 17,344 shares during the last quarter. Expect Equity LLC purchased a new stake in Lakeland Industries in the fourth quarter valued at approximately $1,809,000. Finally, Bank of America Corp DE increased its position in Lakeland Industries by 114.1% during the fourth quarter. Bank of America Corp DE now owns 7,657 shares of the medical instruments supplier’s stock worth $196,000 after purchasing an additional 4,081 shares during the last quarter. Institutional investors and hedge funds own 71.69% of the company’s stock.

Lakeland Industries Company Profile

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.