Lakeland Industries, Inc. LAKE shares soared 12.6% in the last trading session to close at $10.84. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.1% gain over the past four weeks.
Lakeland’s rally is largely driven by optimism over an increase in demand for the fire service product line. Also, acquisitions of Arizona PPE and California PPE, which expanded its U.S. Fire Services distribution and rental capabilities, bode well for the company.
This safety garments manufacturer is expected to post quarterly loss of $0.14 per share in its upcoming report, which represents a year-over-year change of +65.9%. Revenues are expected to be $48.9 million, up 4.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Lakeland Industries, the consensus EPS estimate for the quarter has been revised 71.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on LAKE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Lakeland Industries belongs to the Zacks Security and Safety Services industry. Another stock from the same industry, Life360 (LIF), closed the last trading session 1.5% higher at $44.01. Over the past month, LIF has returned -1.3%.
Life360's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.15. Compared to the company's year-ago EPS, this represents a change of +200%. Life360 currently boasts a Zacks Rank of #2 (Buy).
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This article originally published on Zacks Investment Research (zacks.com).