Lakeland Industries, Inc. (LAKE) Expected to Announce Quarterly Sales of $25.06 Million

Brokerages expect Lakeland Industries, Inc. (NASDAQ:LAKE) to announce sales of $25.06 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Lakeland Industries’ earnings, with the lowest sales estimate coming in at $24.41 million and the highest estimate coming in at $25.71 million. Lakeland Industries posted sales of $23.24 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.8%. The company is scheduled to report its next quarterly earnings report on Wednesday, December 13th.

According to Zacks, analysts expect that Lakeland Industries will report full-year sales of $25.06 million for the current financial year, with estimates ranging from $93.20 million to $94.22 million. For the next fiscal year, analysts expect that the business will report sales of $97.79 million per share, with estimates ranging from $97.47 million to $98.10 million. Zacks’ sales averages are an average based on a survey of research firms that cover Lakeland Industries.

Lakeland Industries (NASDAQ:LAKE) last announced its earnings results on Wednesday, September 13th. The medical instruments supplier reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. Lakeland Industries had a net margin of 6.65% and a return on equity of 8.27%. The business had revenue of $23.90 million during the quarter, compared to the consensus estimate of $23.91 million. During the same quarter last year, the firm earned $0.20 earnings per share. Lakeland Industries’s quarterly revenue was up 7.2% on a year-over-year basis.

Several equities research analysts have weighed in on the stock. TheStreet raised shares of Lakeland Industries from a “c+” rating to a “b” rating in a research report on Wednesday, June 28th. Zacks Investment Research raised shares of Lakeland Industries from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Wednesday, September 27th. ValuEngine raised shares of Lakeland Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Roth Capital assumed coverage on shares of Lakeland Industries in a research report on Wednesday, August 23rd. They set a “buy” rating and a $18.00 price target for the company.

Shares of Lakeland Industries (LAKE) traded up 2.39% during trading on Friday, reaching $15.00. 78,892 shares of the company were exchanged. Lakeland Industries has a one year low of $9.61 and a one year high of $17.18. The stock has a market capitalization of $120.48 million, a PE ratio of 18.29 and a beta of -0.06. The stock has a 50-day moving average price of $13.92 and a 200-day moving average price of $12.92.

Several large investors have recently bought and sold shares of LAKE. Nationwide Fund Advisors lifted its position in shares of Lakeland Industries by 4,456.5% in the 2nd quarter. Nationwide Fund Advisors now owns 9,113 shares of the medical instruments supplier’s stock worth $132,000 after purchasing an additional 8,913 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of Lakeland Industries in the 2nd quarter worth about $164,000. Teton Advisors Inc. lifted its position in shares of Lakeland Industries by 7.1% in the 2nd quarter. Teton Advisors Inc. now owns 12,211 shares of the medical instruments supplier’s stock worth $177,000 after purchasing an additional 811 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Lakeland Industries by 54.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 19,556 shares of the medical instruments supplier’s stock worth $210,000 after purchasing an additional 6,924 shares during the period. Finally, North Star Investment Management Corp. lifted its position in shares of Lakeland Industries by 196.6% in the 2nd quarter. North Star Investment Management Corp. now owns 24,000 shares of the medical instruments supplier’s stock worth $348,000 after purchasing an additional 15,908 shares during the period. 42.35% of the stock is owned by hedge funds and other institutional investors.

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About Lakeland Industries

Lakeland Industries, Inc (Lakeland) manufactures and sells a line of safety garments and accessories for the industrial and public protective clothing market. The Company’s product categories include limited use/disposable protective clothing; high-end chemical protective suits; firefighting, flame resistant personal protective equipment (FR PPE) and heat protective apparel; reusable woven garments; high visibility clothing, and glove and sleeves.

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Earnings History and Estimates for Lakeland Industries (NASDAQ:LAKE)

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