according to google finance zacks downgraded on friday and upgraded today...lol....based on price action, i think that zack downgraded.....does anyone have confirmation?
DLA is a small cap company. Avg. daily volume is 20 k. There is a wide bid-ask spread. Today some investor, individual or institutional, sold at 9:40 AM nearly 13,500 shares in what appears to be at the market price. This is clear looking at the minute graph. There are no news on the company. Since 9:40 AM buyers have step in taking advantage of the price.
Sentiment: Strong Buy
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Probably because years ago they were selling in the teens and had an earnings goal of $3 per share and still have not been able to come close and have actually went backwards. They had improvement and cost cutting programs now for the second time since. It has not been an easy road for longer term investors especially if you look at five year chart comparisons for folks like HBI (Hanes) or GIL (Gildan).
Also, there have been too many mistakes like Soffe losing major business and still not getting back to where it was prior and less than smooth transitions like getting Salt Life product out in Q4.
As always, they go through the cyclical cotton pricing spikes that destroy margins.
They talk like the balance sheet is the best in the world but my comfort level was somewhat stretched last year. Long term debt has risen over the years and hopefully is now trending down.
There are lots of reasons it is not selling for a higher price. Hopefully, some of the metrics will change for a longer period and bring about a higher share price.