Lakeland Industries (NASDAQ:LAKE) Coverage Initiated by Analysts at Maxim Group

Maxim Group assumed coverage on shares of Lakeland Industries (NASDAQ:LAKE) in a research report report published on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $22.00 target price on the medical instruments supplier’s stock.

Other research analysts also recently issued reports about the company. TheStreet raised Lakeland Industries from a c+ rating to a b- rating in a report on Thursday, February 1st. StockNews.com downgraded Lakeland Industries from a buy rating to a hold rating in a report on Wednesday, April 3rd.

Lakeland Industries Trading Up 2.8 %

Shares of NASDAQ:LAKE opened at $17.15 on Wednesday. Lakeland Industries has a 12-month low of $10.60 and a 12-month high of $19.66. The company has a market capitalization of $126.40 million, a PE ratio of 24.16 and a beta of 0.47. The business has a 50 day moving average of $16.84 and a two-hundred day moving average of $16.48. The company has a current ratio of 5.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.01.

Lakeland Industries (NASDAQ:LAKE) last announced its quarterly earnings results on Wednesday, April 10th. The medical instruments supplier reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.08). Lakeland Industries had a net margin of 4.33% and a return on equity of 6.63%. The company had revenue of $31.20 million during the quarter, compared to analyst estimates of $32.50 million. As a group, analysts forecast that Lakeland Industries will post 1.75 EPS for the current year.

Lakeland Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 15th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Wednesday, February 14th. Lakeland Industries’s dividend payout ratio (DPR) is presently 16.90%.

Institutional Trading of Lakeland Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Equitable Trust Co. increased its position in shares of Lakeland Industries by 10.7% in the fourth quarter. Equitable Trust Co. now owns 27,665 shares of the medical instruments supplier’s stock valued at $513,000 after buying an additional 2,680 shares in the last quarter. Barclays PLC purchased a new stake in shares of Lakeland Industries in the third quarter valued at approximately $53,000. Quadrature Capital Ltd purchased a new stake in shares of Lakeland Industries during the fourth quarter worth approximately $236,000. Finally, Bailard Inc. purchased a new stake in shares of Lakeland Industries during the third quarter worth approximately $225,000. 71.69% of the stock is currently owned by hedge funds and other institutional investors.

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.