Lakeland Industries, Inc. (NASDAQ:LAKE) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 12,900 shares, a decline of 60.1% from the August 30th total of 32,300 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 26,500 shares, the days-to-cover ratio is presently 0.5 days.
NASDAQ:LAKE traded up $0.31 during mid-day trading on Friday, hitting $11.19. The company’s stock had a trading volume of 13,959 shares, compared to its average volume of 11,547. Lakeland Industries has a 1 year low of $9.70 and a 1 year high of $14.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.49 and a quick ratio of 2.10. The stock has a market cap of $86.85 million, a price-to-earnings ratio of 27.29 and a beta of 0.67. The business’s fifty day moving average is $11.25 and its two-hundred day moving average is $11.53.
Lakeland Industries (NASDAQ:LAKE) last posted its quarterly earnings results on Monday, September 9th. The medical instruments supplier reported $0.17 EPS for the quarter, beating the consensus estimate of $0.01 by $0.16. Lakeland Industries had a negative net margin of 0.49% and a positive return on equity of 1.67%. The company had revenue of $27.47 million for the quarter, compared to analyst estimates of $25.62 million. Analysts anticipate that Lakeland Industries will post 0.45 EPS for the current fiscal year.
LAKE has been the topic of several recent research reports. Zacks Investment Research raised shares of Lakeland Industries from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Thursday, September 12th. ValuEngine lowered shares of Lakeland Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, Roth Capital set a $15.00 price target on shares of Lakeland Industries and gave the company a “buy” rating in a report on Tuesday, September 10th.
A number of large investors have recently bought and sold shares of LAKE. Private Capital Management LLC boosted its holdings in Lakeland Industries by 28.4% in the first quarter. Private Capital Management LLC now owns 713,265 shares of the medical instruments supplier’s stock valued at $8,374,000 after purchasing an additional 157,625 shares during the last quarter. Kennedy Capital Management Inc. purchased a new stake in Lakeland Industries in the first quarter valued at $1,723,000. Dalton Greiner Hartman Maher & Co. purchased a new stake in Lakeland Industries in the third quarter valued at $390,000. Granite Investment Partners LLC boosted its holdings in Lakeland Industries by 88.6% in the first quarter. Granite Investment Partners LLC now owns 50,854 shares of the medical instruments supplier’s stock valued at $597,000 after purchasing an additional 23,894 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its stake in shares of Lakeland Industries by 7.7% during the 3rd quarter. North Star Investment Management Corp. now owns 221,850 shares of the medical instruments supplier’s stock worth $2,689,000 after acquiring an additional 15,900 shares in the last quarter. 60.40% of the stock is currently owned by 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.
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