Delta Apparel (NYSEAMERICAN:DLA) announced that its board has initiated a share repurchase plan, which authorizes the company to repurchase $10.00 million in outstanding shares on Tuesday, September 18th. This repurchase authorization authorizes the textile maker to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Separately, Zacks Investment Research downgraded Delta Apparel from a “hold” rating to a “sell” rating in a research report on Thursday, August 9th.

NYSEAMERICAN DLA traded down $0.24 during trading on Friday, reaching $17.32. 9,099 shares of the company’s stock were exchanged, compared to its average volume of 22,127. Delta Apparel has a fifty-two week low of $16.30 and a fifty-two week high of $22.10.

Delta Apparel (NYSEAMERICAN:DLA) last announced its quarterly earnings results on Monday, August 6th. The textile maker reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. The firm had revenue of $112.18 million for the quarter, compared to the consensus estimate of $109.75 million. Delta Apparel had a return on equity of 1.74% and a net margin of 0.72%.

Delta Apparel Company Profile

Delta Apparel, Inc, through its subsidiaries, designs, manufactures, sources, and markets a portfolio of lifestyle basics and branded active wear apparel, headwear, and related accessory products in the United States and internationally. The company operates through two segments, Branded and Basics. It provides various casual and athletic products for men, women, juniors, youth, and children through various distribution channels and distribution tiers, including department stores, sporting goods and outdoor retailers, specialty stores, boutiques, mid and mass channels, e-retailers, and the U.S.

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