#5 - Lakeland Industries (NASDAQ:LAKE)
Lakeland Industries, Inc. (NASDAQ: LAKE) manufactures and sells protective clothing for various industrial and public sector markets. LAKE stock more than tripled between February 2020 and February 2021. Not surprisingly, revenue and earnings are down since their customers stocked up in 2020. And the stock has given up nearly all of those gains.
The bullish case for Lakeland comes from the industries they serve. While healthcare and pharmaceuticla manufacturing were revenue drivers in 2020, there are several industries such as mining, oil and gas, electric utilities, and construction that present scenarios for demand to rise in 2023 and beyond. In its March 2023 earnings presentation, the company forecast single-digit revenue growth in the company’s core markets.
LAKE stock has a forward price-to-earnings ratio of 15x earnings. And while the stock is down over 5% in 2023, analysts give the stock a Buy rating with a consensus price target of $25.
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.
Read More - Current Price
- $22.88
- Consensus Rating
- Buy
- Ratings Breakdown
- 2 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $27.50 (20.2% Upside)
