Lakeland Industries (NASDAQ:LAKE) Coverage Initiated by Analysts at Lake Street Capital

Lake Street Capital initiated coverage on shares of Lakeland Industries (NASDAQ:LAKE) in a research report released on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $30.00 price objective on the medical instruments supplier’s stock.

Separately, Roth Mkm increased their price objective on shares of Lakeland Industries from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th.

Lakeland Industries Price Performance

Shares of NASDAQ:LAKE opened at $20.15 on Tuesday. The company has a market cap of $191.40 million, a price-to-earnings ratio of -223.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.23 and a quick ratio of 1.77. The firm has a 50 day simple moving average of $24.02 and a 200 day simple moving average of $22.30. Lakeland Industries has a one year low of $15.10 and a one year high of $27.28.

Lakeland Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 17th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, February 14th. Lakeland Industries’s payout ratio is currently -133.33%.

Insider Activity

In other Lakeland Industries news, Director Nikki Hamblin purchased 1,590 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was purchased at an average price of $22.00 per share, with a total value of $34,980.00. Following the completion of the purchase, the director now owns 17,452 shares of the company’s stock, valued at approximately $383,944. The trade was a 10.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO An Hui purchased 2,000 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were acquired at an average cost of $22.00 per share, with a total value 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. The trade was a 3.85 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 11,208 shares of company stock valued at $253,520. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Lakeland Industries

Several large investors have recently modified their holdings of LAKE. Royce & Associates LP increased its position in shares of Lakeland Industries by 16.7% during the fourth quarter. Royce & Associates LP now owns 851,980 shares of the medical instruments supplier’s stock worth $21,768,000 after buying an additional 121,760 shares during the period. Ancora Advisors LLC increased its position in shares of Lakeland Industries by 112.5% during the fourth quarter. Ancora Advisors LLC now owns 149,493 shares of the medical instruments supplier’s stock worth $3,820,000 after buying an additional 79,148 shares during the period. Peapod Lane Capital LLC acquired a new stake in shares of Lakeland Industries during the fourth quarter worth $2,018,000. Susquehanna International Group LLP increased its position in shares of Lakeland Industries by 261.9% during the fourth quarter. Susquehanna International Group LLP now owns 98,419 shares of the medical instruments supplier’s stock worth $2,515,000 after buying an additional 71,224 shares during the period. Finally, Expect Equity LLC acquired a new stake in shares of Lakeland Industries during the fourth quarter worth $1,809,000. 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.