Lakeland Industries' (LAKE) stock price has been declining for almost two years now. But it is a consistently profitable firm that now trades at a discount to its net current assets. For more on this company, see the write-up over at Whopper Investments, a great site for those looking for value investing ideas.
Watch out for a possible risk for this company, however: its reliance on Dupont as a supplier. As per the company's 10-K:
"In FY11, we purchased approximately 32.3% of the dollar value of our materials from DuPont"
If Dupont decides to use a different distribution model, or doesn't want to do business with Lakeland anymore, a major portion of the company's revenue could disappear. This risk mostly concerns the company's future earnings power, however. If the company can be bought at a large discount to its assets, this risk may not be such an issue.
For more on this risk, check out the Lakeland write-up at frankvoisin.com.
Finally, there may be a potential catalyst on the horizon, as another company in the same line of business as Lakeland has picked up almost 10% of the company's shares. The price went up on this news, unfortunately, but potential catalysts don't usually come free anyway!
Disclosure: No position