Delta Apparel (NYSEAMERICAN:DLA) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Delta Apparel (NYSEAMERICAN:DLA) from a strong sell rating to a hold rating in a research report report published 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. “

Delta Apparel stock opened at $21.44 on Tuesday. Delta Apparel has a fifty-two week low of $16.11 and a fifty-two week high of $24.99.

Delta Apparel (NYSEAMERICAN:DLA) last posted its quarterly earnings results on Monday, May 6th. The textile maker reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.10). The business had revenue of $102.84 million for the quarter, compared to analyst estimates of $106.16 million.

In other news, Chairman Robert W. Humphreys sold 2,000 shares of Delta Apparel stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $22.96, for a total transaction of $45,920.00. Following the completion of the sale, the chairman now directly owns 524,391 shares of the company’s stock, valued at approximately $12,040,017.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Robert W. Humphreys sold 2,461 shares of Delta Apparel stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $21.60, for a total transaction of $53,157.60. Following the sale, the chairman now directly owns 512,149 shares of the company’s stock, valued at $11,062,418.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,925 shares of company stock valued at $381,473.

Several institutional investors have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. purchased a new stake in Delta Apparel in the first quarter valued at $65,000. O Shaughnessy Asset Management LLC lifted its position in Delta Apparel by 38.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,825 shares of the textile maker’s stock valued at $100,000 after acquiring an additional 1,612 shares during the last quarter. Hodges Capital Management Inc. purchased a new stake in Delta Apparel in the first quarter valued at $267,000. Bank of America Corp DE lifted its position in Delta Apparel by 6.1% in the fourth quarter. Bank of America Corp DE now owns 16,537 shares of the textile maker’s stock valued at $285,000 after acquiring an additional 951 shares during the last quarter. Finally, Tibra Equities Europe Ltd purchased a new stake in Delta Apparel in the first quarter valued at $302,000.

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.

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