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

Analysts at DA Davidson initiated coverage on shares of Lakeland Industries (NASDAQ:LAKE) in a research report issued to clients and 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 price objective suggests a potential upside of 37.32% from the company’s current price.

LAKE has been the subject of a number of other reports. Roth Mkm upped 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. Lake Street Capital initiated coverage on shares of Lakeland Industries in a research report on Tuesday, March 11th. They issued a “buy” rating and a $30.00 price target for the company. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.25.

Lakeland Industries Trading Down 3.3 %

Shares of NASDAQ LAKE opened at $20.39 on Wednesday. Lakeland Industries has a twelve month low of $15.10 and a twelve month high of $27.28. The firm has a market cap of $193.68 million, a PE ratio of -226.56 and a beta of 0.96. The business has a fifty day simple moving average of $22.87 and a two-hundred day simple moving average of $22.05. The company has a quick ratio of 1.77, a current ratio of 4.23 and a debt-to-equity ratio of 0.25.

Insider Buying and Selling

In related news, CEO James M. Jenkins purchased 990 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was acquired at an average price of $25.35 per share, with a total value of $25,096.50. Following the completion of the acquisition, the chief executive officer now owns 990 shares in the company, valued at approximately $25,096.50. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Nikki Hamblin acquired 1,590 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were bought at an average cost of $22.00 per share, for a total transaction of $34,980.00. Following the completion of the acquisition, the director now directly owns 17,452 shares of the company’s stock, valued at approximately $383,944. The trade was a 10.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 8,988 shares of company stock worth $202,283 in the last ninety days. 4.20% of the stock is owned by insiders.

Institutional Trading of Lakeland Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. IFP Advisors Inc purchased a new position in shares of Lakeland Industries in the fourth quarter worth about $36,000. Russell Investments Group Ltd. purchased a new position in Lakeland Industries during the 4th quarter worth approximately $160,000. Bank of America Corp DE lifted its stake in Lakeland Industries by 114.1% during the 4th quarter. Bank of America Corp DE now owns 7,657 shares of the medical instruments supplier’s stock valued at $196,000 after acquiring an additional 4,081 shares during the period. Metis Global Partners LLC purchased a new stake in shares of Lakeland Industries in the 4th quarter valued at $207,000. Finally, Empowered Funds LLC boosted its holdings in shares of Lakeland Industries by 4.6% in 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 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.