Lake Street Capital Begins Coverage on Lakeland Industries (NASDAQ:LAKE)

Lake Street Capital assumed coverage on shares of Lakeland Industries (NASDAQ:LAKE) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $30.00 price target on the medical instruments supplier’s stock. Lake Street Capital’s price objective suggests a potential upside of 44.86% from the company’s current price.

Separately, Roth Mkm lifted their price objective on Lakeland Industries from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th.

Lakeland Industries Stock Up 2.8 %

LAKE opened at $20.71 on Tuesday. The company has a market cap of $196.72 million, a P/E ratio of -230.11 and a beta of 0.96. The business’s 50-day moving average price is $23.93 and its 200-day moving average price is $22.29. 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 12 month low of $15.10 and a 12 month high of $27.28.

Insider Activity at Lakeland Industries

In other news, Director Nikki Hamblin acquired 2,220 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost of $23.08 per share, with a total value of $51,237.60. Following the transaction, the director now owns 15,862 shares in the company, valued at $366,094.96. The trade was a 16.27 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Laurel A. Yartz acquired 2,272 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were purchased at an average cost of $22.00 per share, for a total transaction of $49,984.00. Following the completion of the transaction, the insider now owns 9,772 shares in the company, valued at approximately $214,984. This represents a 30.29 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 11,208 shares of company stock worth $253,520 in the last 90 days. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Lakeland Industries

Several large investors have recently bought and sold shares of the company. Empowered Funds LLC boosted its position in Lakeland Industries by 4.6% during the 3rd quarter. Empowered Funds LLC now owns 12,129 shares of the medical instruments supplier’s stock valued at $244,000 after acquiring an additional 536 shares in the last quarter. Northern Trust Corp grew its stake in shares of Lakeland Industries by 4.5% in the 4th quarter. Northern Trust Corp now owns 14,799 shares of the medical instruments supplier’s stock worth $378,000 after buying an additional 635 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of Lakeland Industries by 1.6% in the 4th quarter. D.A. Davidson & CO. now owns 43,892 shares of the medical instruments supplier’s stock worth $1,121,000 after buying an additional 698 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Lakeland Industries by 1.6% in 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 during the last quarter. Finally, IFP Advisors Inc purchased a new stake in shares of Lakeland Industries in the 4th quarter worth approximately $36,000. 71.69% of the stock is owned by institutional investors.

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.