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

Stock analysts at DA Davidson began coverage on shares of Lakeland Industries (NASDAQ:LAKE) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $28.00 price target on the medical instruments supplier’s stock. DA Davidson’s target price points to a potential upside of 37.32% from the stock’s current price.

A number of other brokerages also recently issued reports on LAKE. Lake Street Capital assumed coverage on shares of Lakeland Industries in a report on Tuesday, March 11th. They set a “buy” rating and a $30.00 price target on the stock. Roth Mkm increased their target price 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 analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.25.

Lakeland Industries Stock Down 3.3 %

Shares of LAKE stock opened at $20.39 on Wednesday. The company has a current ratio of 4.23, a quick ratio of 1.77 and a debt-to-equity ratio of 0.25. Lakeland Industries has a twelve month low of $15.10 and a twelve month high of $27.28. The stock has a 50 day moving average of $22.87 and a 200 day moving average of $22.05. The stock has a market cap of $193.68 million, a P/E ratio of -226.56 and a beta of 0.96.

Insider Buying and Selling at Lakeland Industries

In related news, COO An Hui bought 2,000 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were acquired at an average cost of $22.00 per share, for a total transaction of $44,000.00. Following the acquisition, the chief operating officer now directly owns 53,912 shares in the company, valued at approximately $1,186,064. This trade represents a 3.85 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nikki Hamblin purchased 1,590 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was bought at an average cost of $22.00 per share, with a total value of $34,980.00. Following the acquisition, 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 position. The disclosure for this purchase can be found here. Insiders bought 8,988 shares of company stock valued at $202,283 over the last quarter. 4.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LAKE. Private Capital Management LLC raised its stake in Lakeland Industries by 0.4% during the fourth quarter. Private Capital Management LLC now owns 1,007,391 shares of the medical instruments supplier’s stock worth $25,739,000 after purchasing an additional 4,092 shares during the period. Royce & Associates LP raised its position in shares of Lakeland Industries by 16.7% during the 4th quarter. Royce & Associates LP now owns 851,980 shares of the medical instruments supplier’s stock valued at $21,768,000 after buying an additional 121,760 shares during the period. Ancora Advisors LLC grew its position in Lakeland Industries by 112.5% in the fourth quarter. Ancora Advisors LLC now owns 149,493 shares of the medical instruments supplier’s stock worth $3,820,000 after acquiring an additional 79,148 shares during the period. Susquehanna International Group LLP raised its position in Lakeland Industries by 261.9% in the fourth quarter. Susquehanna International Group LLP now owns 98,419 shares of the medical instruments supplier’s stock valued at $2,515,000 after purchasing an additional 71,224 shares during the period. Finally, Peapod Lane Capital LLC acquired a new position in shares of Lakeland Industries in the 4th quarter valued at $2,018,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

Lakeland Industries Company Profile

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.