Delta Apparel (NYSEAMERICAN:DLA) Lowered to Strong Sell at Zacks Investment Research

Share on StockTwits

Zacks Investment Research lowered shares of Delta Apparel (NYSEAMERICAN:DLA) from a hold rating to a strong sell rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “DELTA APPAREL is a vertical manufacturer of knitwear products for the entire family. Our company purchases cotton direct from the field and through a stringently controlled process produces finished apparel for the domestic and international market place. The products we manufacture are sold under our brands of Delta Pro-Weight, Delta Magnum Weight, Healthknit and Quail Hollow Sportswear. In addition, Delta Apparel, Inc. also produces finished products for America’s leading retailers, corporate industry programs and sports licensed apparel marketers. “

NYSEAMERICAN:DLA traded up $0.71 on Wednesday, hitting $28.92. The company’s stock had a trading volume of 56 shares, compared to its average volume of 17,603. Delta Apparel has a one year low of $18.48 and a one year high of $31.71.

Delta Apparel (NYSEAMERICAN:DLA) last posted its earnings results on Thursday, November 21st. The textile maker reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $107.96 million during the quarter, compared to analyst estimates of $108.12 million.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DLA. Marshall Wace North America L.P. bought a new position in shares of Delta Apparel in the 1st quarter valued at $65,000. Charles Schwab Investment Management Inc. bought a new position in Delta Apparel during the 2nd quarter worth $342,000. Bank of New York Mellon Corp bought a new position in Delta Apparel during the 2nd quarter worth $541,000. Northern Trust Corp raised its position in Delta Apparel by 11.3% during the 2nd quarter. Northern Trust Corp now owns 50,781 shares of the textile maker’s stock worth $1,177,000 after purchasing an additional 5,143 shares during the last quarter. Finally, BlackRock Inc. raised its position in Delta Apparel by 153.8% during the 2nd quarter. BlackRock Inc. now owns 460,009 shares of the textile maker’s stock worth $10,663,000 after purchasing an additional 278,743 shares during the last quarter.

About Delta Apparel

Delta Apparel, Inc, through its subsidiaries, designs, manufactures, sources, and markets a portfolio of lifestyle active wear apparel and related accessory products in the United States and internationally. The company operates through two segments, Delta Group and Salt Life Group. It markets, distributes, manufactures, and sells unembellished knit apparel under the Soffe, Delta Platinum, Delta Pro Weight, and Delta Magnum Weight brands to various large licensed screen printers and small independent businesses.

Read More: Guidelines for Successful Channel Trading

Get a free copy of the Zacks research report on Delta Apparel (DLA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Delta Apparel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Delta Apparel and related companies with MarketBeat.com's FREE daily email newsletter.