Lakeland Industries (NASDAQ:LAKE) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Lakeland Industries, Inc. (NASDAQ:LAKE) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.70 and traded as high as $20.90. Lakeland Industries shares last traded at $20.25, with a volume of 46,568 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on LAKE. Roth Mkm increased their target price on shares of Lakeland Industries from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. StockNews.com cut shares of Lakeland Industries from a “hold” rating to a “sell” rating in a report on Friday, October 18th.

Lakeland Industries Stock Down 2.9 %

The firm has a market capitalization of $149.85 million, a P/E ratio of 84.38 and a beta of 0.55. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.00 and a current ratio of 4.24. The business’s fifty day moving average price is $21.21 and its two-hundred day moving average price is $20.70.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings data on Wednesday, September 4th. The medical instruments supplier reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.42 by ($0.61). The company had revenue of $38.51 million during the quarter, compared to analysts’ expectations of $41.10 million. Lakeland Industries had a net margin of 1.38% and a return on equity of 3.70%. During the same period in the previous year, the business earned $0.32 earnings per share. Equities analysts expect that Lakeland Industries, Inc. will post 0.96 earnings per share for the current fiscal year.

Lakeland Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th were paid 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 0.59%. Lakeland Industries’s payout ratio is 50.00%.

Institutional Investors Weigh In On Lakeland Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in LAKE. High Falls Advisors Inc grew its stake in 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 valued at $447,000 after acquiring an additional 5,137 shares during the period. Renaissance Technologies LLC grew its stake in Lakeland Industries by 2.7% in the 2nd quarter. Renaissance Technologies LLC now owns 499,202 shares of the medical instruments supplier’s stock valued at $11,452,000 after acquiring an additional 13,200 shares during the period. Total Clarity Wealth Management Inc. acquired a new stake in Lakeland Industries during the 2nd quarter worth $597,000. Inspire Advisors LLC acquired a new stake in Lakeland Industries during the 2nd quarter worth $222,000. Finally, Quadrature Capital Ltd boosted its stake in Lakeland Industries by 47.0% during the 1st quarter. Quadrature Capital Ltd now owns 18,641 shares of the medical instruments supplier’s stock worth $339,000 after purchasing an additional 5,957 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.