Lakeland Industries (LAKE) Stock Moves -0.2%: What You Should Know
Lakeland Industries (LAKE) closed at $24.49 in the latest trading session, marking a -0.2% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.86%. Elsewhere, the Dow lost 2.3%, while the tech-heavy Nasdaq lost 1.64%.
Heading into today, shares of the safety garments manufacturer had gained 31.58% over the past month, outpacing the Industrial Products sector's gain of 13.35% and the S&P 500's gain of 7.63% in that time.
Wall Street will be looking for positivity from LAKE as it approaches its next earnings report date. The company is expected to report EPS of $0.57, up 216.67% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $35 million, up 27.46% from the prior-year quarter.
LAKE's full-year Zacks Consensus Estimates are calling for earnings of $3.29 per share and revenue of $149.70 million. These results would represent year-over-year changes of +631.11% and +38.84%, respectively.
Investors might also notice recent changes to analyst estimates for LAKE. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. LAKE is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, LAKE is holding a Forward P/E ratio of 7.46. This represents a discount compared to its industry's average Forward P/E of 22.13.
The Security and Safety Services industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 205, putting it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow LAKE in the coming trading sessions, be sure to utilize Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.