Delta Apparel (NYSEAMERICAN:DLA) cut to fit at Zacks Investment Research

Delta Clothing (NYSAMERICAN:DLAGet a rating) was downgraded by Zacks Investment Research from a “Strong Buy” rating to a “Hold” rating in a research note published on Tuesday, reports.

According to Zacks, “DELTA APPAREL is a vertical manufacturer of knit products for the whole family. Our company sources cotton directly from the field and, through a rigorously controlled process, produces finished garments for the domestic and international market. The products we manufacture are sold under our Delta Pro-Weight, Delta Magnum Weight, Healthknit and Quail Hollow Sportswear brands. In addition, Delta Apparel, Inc. also manufactures finished goods for major US retailers, corporate industry programs, and licensed sportswear distributors. “

Shares of Stock Delta Clothing opened at $31.67 on Tuesday. Delta Apparel has a 52-week minimum of $24.10 and a 52-week maximum 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 ratio of 0.71.

Delta Clothing (NYSAMERICAN:DLAGet a rating) last reported its quarterly earnings data on Tuesday, February 8. The textile maker reported earnings per share (EPS) of $0.51 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 company posted revenue of $110.75 million for the quarter, versus $109.00 million expected by analysts. As a group, sell-side analysts expect Delta Apparel to post EPS of 3.17 for the current year.

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

About Delta Clothing (Get a rating)

Delta Apparel, Inc., through its subsidiaries, designs, manufactures, sources and markets activewear and lifestyle apparel in the United States and around the world. The Company operates through two segments, Delta Group and Salt Life Group. It offers digitally printed on-demand clothing products under the DTG2Go brand; silhouettes and polar products; performance shirts that keep athletes dry under the Delta Dri line brand; ring-spun clothing; Delta Soft clothing products; and traditional, mid-weight and heavyweight t-shirts under the Delta Pro Weight and Magnum Weight brands, as well as polo shirts, outerwear, headwear, bags and other accessories.

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