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Investing.com - DA Davidson has reiterated its Buy rating and $23.00 price target on Lakeland Industries (NASDAQ:LAKE) following investor meetings with company management. Currently trading at $13.78, the stock has seen a significant decline of nearly 48% over the past six months, according to InvestingPro data.
The research firm hosted meetings between investors and Lakeland management, including CEO Jim Jenkins and CFO Roger Shannon, reporting "largely positive" takeaways from the discussions.
DA Davidson noted management expressed "considerable confidence" in their goal to triple EBITDA within 3-5 years, alongside achieving revenue growth at a compound annual growth rate exceeding 10%.
The firm identified NFPA certification of Jolly boots as a potential near-term catalyst, which would finally allow Lakeland to offer a complete head-to-toe product package in the U.S. market.
Management also conveyed confidence regarding minimal PFAS liabilities and discussed the impact of expanding into the services and rentals channel, according to the research note.
In other recent news, Lakeland Industries has reported a 29% year-over-year increase in revenue for Q1 2025, reaching $46.7 million. Despite this growth, the company experienced a net loss of $3.9 million, compared to a net income of $1.7 million in the same quarter last year. The company also announced its inclusion in the Russell 3000 and 2000 indexes, which is part of FTSE Russell’s annual reconstitution process. This milestone aligns with Lakeland’s reported sales revenue growth, including a notable 100% increase in Fire Services revenue.
Additionally, during its 2025 Annual Meeting of Stockholders, Lakeland Industries elected Class III directors and ratified RSM US LLP as its independent auditor for the fiscal year ending January 31, 2026. The company also saw the approval of executive compensation. Looking ahead, Lakeland Industries projects full-year revenue between $210 million and $220 million, with adjusted EBITDA expected to range from $24 million to $29 million. The company anticipates improvements in gross margins and EBITDA in upcoming quarters, with a focus on strategic acquisitions and operational efficiencies.
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