The 'Go-To' Crisis Play: Singular Research Boosts Lakeland With Buy Rating

  • Lakeland Industries, Inc LAKE shares have been volatile in recent months and are down 10 percent since November 10.
  • Singular Research’s Rishabh Jain initiated coverage of the company with a Buy rating and a long-term price target of $17.50.
  • Lakeland’s strong competitive position and continued expansion into international markets indicate a bright future, Jain stated.

Lakeland Industries is engaged in the design, manufacture and sale of safety garments and accessories for industrial and public protective clothing market. The company’s strong competitive position and expansion into international markets augurs well for its future performance, analyst Rishabh Jain said.

He added, “The transfer of ownership of the company’s Brazilian subsidiary and exiting from Brazil enabled a shift in focus towards better performing segments.”

The company’s strength lies in its ability to deliver high quality products at short notice and move out of poor performing regions like Brazil. “LAKE has become a go - to manufacturer in crisis situations, owing to its ability to deliver high quality product on very short notice,” Jain wrote.

The Singular Research report noted, “Recent cost cutting initiatives have driven margins up, and the bottom line stands to benefit from a fixed operating cost structure.”

Foreign currency related headwinds and reduced demand due to an economic slowdown are the major risks facing Lakeland Industries.

Posted In: Rishabh JainSingular ResearchAnalyst ColorLong IdeasInitiationAnalyst RatingsTrading Ideas

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.