Share Buyback Plan Declared by Delta Apparel (DLA) Board of Directors

Delta Apparel (NYSEMKT:DLA) announced that its board has authorized a share repurchase program, which permits the company to buyback $10.00 million in outstanding shares on Monday, September 18th, EventVestor reports. This buyback authorization permits the textile maker to repurchase up to 6.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

A number of equities research analysts recently weighed in on the company. Roth Capital set a $24.00 target price on Delta Apparel and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. ValuEngine raised Delta Apparel from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research downgraded Delta Apparel from a “hold” rating to a “strong sell” rating in a research report on Friday, August 4th.

Delta Apparel (NYSEMKT DLA) traded down 0.09% during midday trading on Tuesday, reaching $21.79. The company had a trading volume of 10,050 shares. The stock’s 50 day moving average price is $20.13 and its 200-day moving average price is $19.43. Delta Apparel has a one year low of $14.85 and a one year high of $23.47. The firm has a market capitalization of $163.16 million, a P/E ratio of 16.15 and a beta of 0.07.

Delta Apparel (NYSEMKT:DLA) last released its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.11). The company had revenue of $104.28 million during the quarter, compared to the consensus estimate of $100.44 million. Delta Apparel had a net margin of 4.28% and a return on equity of 11.49%. On average, equities research analysts anticipate that Delta Apparel will post $1.25 earnings per share for the current year.

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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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