Delta Apparel (NYSEAMERICAN:DLA) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $20.00 price objective on the textile maker’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 5.26% from the company’s current price.
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 (NYSEAMERICAN DLA) traded up $1.23 during midday trading on Tuesday, reaching $19.00. The company’s stock had a trading volume of 47,875 shares, compared to its average volume of 20,163. Delta Apparel has a 52 week low of $15.55 and a 52 week high of $23.47. The company has a market capitalization of $123.96, a PE ratio of 14.29 and a beta of -0.40.
Several institutional investors and hedge funds have recently added to or reduced their stakes in DLA. Wells Fargo & Company MN grew its stake in Delta Apparel by 0.8% in the third quarter. Wells Fargo & Company MN now owns 710,230 shares of the textile maker’s stock worth $15,263,000 after purchasing an additional 5,488 shares in the last quarter. State Street Corp grew its stake in Delta Apparel by 10.4% in the second quarter. State Street Corp now owns 100,582 shares of the textile maker’s stock worth $2,232,000 after purchasing an additional 9,476 shares in the last quarter. California Public Employees Retirement System grew its stake in Delta Apparel by 11.4% in the second quarter. California Public Employees Retirement System now owns 33,100 shares of the textile maker’s stock worth $734,000 after purchasing an additional 3,400 shares in the last quarter. Vanguard Group Inc. grew its stake in Delta Apparel by 3.1% in the second quarter. Vanguard Group Inc. now owns 241,235 shares of the textile maker’s stock worth $5,350,000 after purchasing an additional 7,235 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Delta Apparel by 4.7% in the second quarter. Northern Trust Corp now owns 102,373 shares of the textile maker’s stock worth $2,271,000 after purchasing an additional 4,561 shares in the last quarter.
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Delta Apparel Company Profile
Delta Apparel, Inc is an apparel design, marketing, manufacturing and sourcing company. The Company operates through two segments: branded and basics. The branded segment consists of its business units, which are focused on specialized apparel garments and headwear. Its products are marketed under its lifestyle brands of Salt Life, Soffe and COAST, as well as other labels.
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