Lakeland Industries (NASDAQ:LAKE) Upgraded at DA Davidson

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

A number of other equities research analysts have also recently issued reports on the stock. Lake Street Capital began coverage on shares of Lakeland Industries in a report on Tuesday, March 11th. They set a “buy” rating and a $30.00 price target for the company. Roth Mkm upped their price target on shares of Lakeland Industries from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.25.

Lakeland Industries Price Performance

NASDAQ:LAKE opened at $20.46 on Tuesday. The company has a quick ratio of 1.77, a current ratio of 4.23 and a debt-to-equity ratio of 0.25. The firm has a market cap of $194.35 million, a P/E ratio of -227.33 and a beta of 0.96. The business’s 50-day moving average price is $22.64 and its 200 day moving average price is $22.03. Lakeland Industries has a 52-week low of $15.10 and a 52-week high of $27.28.

Lakeland Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 17th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, February 14th. Lakeland Industries’s dividend payout ratio (DPR) is presently -133.33%.

Insider Buying and Selling at Lakeland Industries

In other news, Director Nikki Hamblin bought 1,590 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were acquired at an average cost of $22.00 per share, for a total transaction of $34,980.00. Following the completion of the acquisition, the director now owns 17,452 shares in the company, valued at approximately $383,944. This represents a 10.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO An Hui acquired 2,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was acquired at an average price of $22.00 per share, for a total transaction of $44,000.00. Following the purchase, the chief operating officer now directly owns 53,912 shares of the company’s stock, valued at approximately $1,186,064. This trade represents a 3.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 8,988 shares of company stock valued at $202,283 in the last 90 days. 4.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lakeland Industries

Several institutional investors and hedge funds have recently modified their holdings of LAKE. Barclays PLC bought a new stake in shares of Lakeland Industries during the 3rd quarter worth approximately $306,000. High Falls Advisors Inc grew its position in shares of Lakeland Industries by 46.2% in the 3rd quarter. High Falls Advisors Inc now owns 28,472 shares of the medical instruments supplier’s stock valued at $572,000 after buying an additional 9,000 shares during the last quarter. Geode Capital Management LLC increased its position in Lakeland Industries by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 74,273 shares of the medical instruments supplier’s stock valued at $1,493,000 after purchasing an additional 1,177 shares during the period. Diversified Investment Strategies LLC grew its holdings in Lakeland Industries by 30.0% during the 4th quarter. Diversified Investment Strategies LLC now owns 32,500 shares of the medical instruments supplier’s stock worth $830,000 after acquiring an additional 7,500 shares during the period. Finally, Peapod Lane Capital LLC bought a new position in shares of Lakeland Industries during the 4th quarter worth approximately $2,018,000. 71.69% of the stock is currently owned by institutional investors and hedge funds.

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.