Delta Apparel (NYSEAMERICAN:DLA) Cut to Hold at Zacks Investment Research

Delta Apparel (NYSEAMERICAN:DLAGet Rating) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, 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. “

Shares of Delta Apparel stock opened at $31.67 on Tuesday. Delta Apparel has a 52-week low of $24.10 and a 52-week high of $35.26. The stock has a market capitalization of $220.07 million, a P/E ratio of 11.11 and a beta of 1.61. The company has a current ratio of 2.30, a quick ratio of 0.77 and a debt-to-equity ratio of 0.71.

Delta Apparel (NYSEAMERICAN:DLAGet Rating) last announced its quarterly earnings data on Tuesday, February 8th. The textile maker reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.21. Delta Apparel had a return on equity of 13.35% and a net margin of 4.65%. The business had revenue of $110.75 million for the quarter, compared to analysts’ expectations of $109.00 million. As a group, sell-side analysts forecast that Delta Apparel will post 3.17 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Western Standard LLC grew its holdings in shares of Delta Apparel by 11.9% during the third quarter. Western Standard LLC now owns 236,946 shares of the textile maker’s stock worth $6,471,000 after purchasing an additional 25,111 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Delta Apparel during the third quarter worth about $39,000. Royal Bank of Canada grew its holdings in shares of Delta Apparel by 2.5% during the third quarter. Royal Bank of Canada now owns 111,067 shares of the textile maker’s stock worth $3,033,000 after purchasing an additional 2,700 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Delta Apparel by 104.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 10,863 shares of the textile maker’s stock worth $297,000 after purchasing an additional 5,554 shares in the last quarter. Finally, Invenire Partners LP purchased a new position in shares of Delta Apparel during the fourth quarter worth about $2,352,000. Hedge funds and other institutional investors own 56.96% of the company’s stock.

About Delta Apparel (Get Rating)

Delta Apparel, Inc, through its subsidiaries, designs, manufactures, sources, and markets activewear and lifestyle apparel products in the United States and internationally. The company operates through two segments, Delta Group and Salt Life Group. It offers on-demand digitally printed apparel products under the DTG2Go brand; silhouettes and fleece products; performance shirts that keep athletes dry under the Delta Dri line brand; ringspun garments; Delta Soft apparel products; and heritage, mid- and heavier-weight tee shirts under the Delta Pro Weight and Magnum Weight brand names, as well as polos, outerwear, headwear, bags, and other accessories.

Further Reading

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