DA Davidson Begins Coverage on Lakeland Industries (NASDAQ:LAKE)

DA Davidson initiated coverage on shares of Lakeland Industries (NASDAQ:LAKE) in a report released on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $28.00 price objective on the medical instruments supplier’s stock.

A number of other brokerages have also recently commented on LAKE. Lake Street Capital began coverage on Lakeland Industries in a report on Tuesday, March 11th. They issued a “buy” rating and a $30.00 target price for the company. Roth Mkm lifted their price objective on shares of Lakeland Industries from $27.00 to $29.00 and gave the stock a “buy” rating in a research note 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.25.

Lakeland Industries Stock Down 1.0 %

Shares of NASDAQ:LAKE opened at $20.26 on Wednesday. The company has a market cap of $192.45 million, a price-to-earnings ratio of -225.11 and a beta of 0.96. Lakeland Industries has a 12 month low of $15.10 and a 12 month high of $27.28. The company has a current ratio of 4.23, a quick ratio of 1.77 and a debt-to-equity ratio of 0.25. The company has a 50-day moving average price of $22.52 and a 200 day moving average price of $22.03.

Lakeland Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 17th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, February 14th. Lakeland Industries’s dividend payout ratio is currently -133.33%.

Insider Activity at Lakeland Industries

In related news, Director Nikki Hamblin purchased 1,590 shares of Lakeland Industries stock in a transaction that occurred on Wednesday, January 22nd. The shares were bought at an average price of $22.00 per share, with a total value of $34,980.00. Following the purchase, the director now directly owns 17,452 shares of the company’s stock, valued at approximately $383,944. This represents a 10.02 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Laurel A. Yartz acquired 2,272 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were bought at an average price of $22.00 per share, with a total value of $49,984.00. Following the acquisition, the insider now directly owns 9,772 shares in the company, valued at $214,984. This represents a 30.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 8,988 shares of company stock worth $202,283 in the last quarter. 4.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lakeland Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC purchased a new stake in shares of Lakeland Industries in the third quarter valued at approximately $306,000. First Eagle Investment Management LLC bought a new stake in Lakeland Industries during the 4th quarter valued at $571,000. IFP Advisors Inc purchased a new stake in shares of Lakeland Industries in the 4th quarter worth $36,000. Geode Capital Management LLC grew its position in shares of 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 worth $1,493,000 after buying an additional 1,177 shares in the last quarter. Finally, Peapod Lane Capital LLC purchased a new position in shares of Lakeland Industries during the fourth quarter valued at $2,018,000. 71.69% of the stock is currently owned by 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.