Maxim Group Initiates Coverage on Lakeland Industries (NASDAQ:LAKE)

Stock analysts at Maxim Group initiated coverage on shares of Lakeland Industries (NASDAQ:LAKE) in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $22.00 price target on the medical instruments supplier’s stock. Maxim Group’s price target indicates a potential upside of 31.82% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. TheStreet raised shares of Lakeland Industries from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. StockNews.com downgraded shares of Lakeland Industries from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd.

Lakeland Industries Stock Performance

Shares of Lakeland Industries stock opened at $16.69 on Wednesday. The firm’s fifty day simple moving average is $16.83 and its 200-day simple moving average is $16.46. The stock has a market capitalization of $123.01 million, a price-to-earnings ratio of 23.51 and a beta of 0.47. Lakeland Industries has a 12 month low of $10.60 and a 12 month high of $19.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.53 and a quick ratio of 2.74.

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

Institutional Investors Weigh In On Lakeland Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of LAKE. Barclays PLC acquired a new stake in shares of Lakeland Industries in the third quarter valued at about $53,000. Bailard Inc. purchased a new position in Lakeland Industries in the 3rd quarter valued at approximately $225,000. Quadrature Capital Ltd purchased a new position in Lakeland Industries during the 4th quarter valued at about $236,000. Finally, Equitable Trust Co. raised its position in Lakeland Industries by 10.7% during the fourth quarter. Equitable Trust Co. now owns 27,665 shares of the medical instruments supplier’s stock worth $513,000 after acquiring an additional 2,680 shares during the last quarter. Institutional investors and hedge funds own 71.69% of the company’s stock.

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.