Zacks Investment Research Downgrades Delta Apparel, Inc. (DLA) to Sell
Delta Apparel, Inc. (NYSEMKT:DLA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
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. “
Separately, TheStreet downgraded Delta Apparel from a “hold” rating to a “sell” rating in a research report on Wednesday, August 17th.
Shares of Delta Apparel (NYSEMKT:DLA) traded up 2.80% during midday trading on Wednesday, reaching $19.10. The company’s stock had a trading volume of 33,235 shares. Delta Apparel has a 12 month low of $11.61 and a 12 month high of $25.52. The company has a market cap of $147.32 million, a price-to-earnings ratio of 14.01 and a beta of 0.07. The stock has a 50-day moving average of $16.03 and a 200 day moving average of $19.49.
Large investors have recently added to or reduced their stakes in the stock. Emerald Acquisition Ltd. acquired a new stake in shares of Delta Apparel during the second quarter valued at about $3,765,000. BlackRock Fund Advisors increased its stake in shares of Delta Apparel by 820.5% in the second quarter. BlackRock Fund Advisors now owns 183,672 shares of the company’s stock valued at $4,142,000 after buying an additional 163,719 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Delta Apparel by 45.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 261,908 shares of the company’s stock valued at $5,906,000 after buying an additional 82,076 shares during the period. Numeric Investors LLC acquired a new stake in shares of Delta Apparel during the second quarter valued at about $1,565,000. Finally, Acadian Asset Management LLC increased its stake in shares of Delta Apparel by 168.2% in the second quarter. Acadian Asset Management LLC now owns 101,119 shares of the company’s stock valued at $2,279,000 after buying an additional 63,416 shares during the period.
About Delta Apparel
Delta Apparel, Inc is an apparel design, marketing, manufacturing and sourcing company. The Company offers a portfolio of lifestyle basics and branded activewear apparel and headwear. The Company operates through two segments: branded and basics. The Company’s branded segment consists of its business units, which are focused on specialized apparel garments and headwear, including its Salt Life, Junkfood and Soffe business.
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