Zacks Investment Research upgraded shares of The Dixie Group, Inc. (NASDAQ:DXYN) from a hold rating to a buy rating in a report released on Monday, August 7th. The firm currently has $4.75 price objective on the textile maker’s stock.
According to Zacks, “Dixie Group Inc. is a leading carpet and rug manufacturer and supplier to higher-end residential and commercial customers serviced by Masland Carpets and Fabrica International, to consumers through major retailers under the Bretlin, Globaltex and Alliance Mills brands and to the factory-built housing and recreational vehicle markets through Carriage Carpets. Dixie’s Candlewick Yarns serves specialty carpet yarn customers.(PR) “
Shares of The Dixie Group (DXYN) traded down 1.23% during trading on Monday, reaching $4.00. 6,106 shares of the company traded hands. The Dixie Group has a 12-month low of $3.20 and a 12-month high of $5.56. The stock’s market capitalization is $62.82 million. The firm’s 50 day moving average is $4.34 and its 200-day moving average is $3.95.
The Dixie Group (NASDAQ:DXYN) last posted its earnings results on Thursday, August 3rd. The textile maker reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The Dixie Group had a negative net margin of 0.41% and a negative return on equity of 1.62%. The firm had revenue of $107.20 million during the quarter, compared to analysts’ expectations of $107.60 million. During the same period in the previous year, the business posted $0.12 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that The Dixie Group will post $0.18 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northern Trust Corp boosted its position in shares of The Dixie Group by 4.0% in the second quarter. Northern Trust Corp now owns 31,483 shares of the textile maker’s stock valued at $141,000 after buying an additional 1,198 shares during the last quarter. Advisor Group Inc. boosted its position in The Dixie Group by 2.7% in the second quarter. Advisor Group Inc. now owns 89,945 shares of the textile maker’s stock worth $401,000 after buying an additional 2,350 shares during the last quarter. GRT Capital Partners L.L.C. boosted its position in The Dixie Group by 17.0% in the second quarter. GRT Capital Partners L.L.C. now owns 31,000 shares of the textile maker’s stock worth $138,000 after buying an additional 4,500 shares during the last quarter. Blair William & Co. IL boosted its position in The Dixie Group by 5.2% in the second quarter. Blair William & Co. IL now owns 191,968 shares of the textile maker’s stock worth $856,000 after buying an additional 9,500 shares during the last quarter. Finally, FTB Advisors Inc. boosted its position in The Dixie Group by 71.3% in the second quarter. FTB Advisors Inc. now owns 28,869 shares of the textile maker’s stock worth $128,000 after buying an additional 12,016 shares during the last quarter. 63.53% of the stock is currently owned by hedge funds and other institutional investors.
The Dixie Group Company Profile
The Dixie Group, Inc is engaged in marketing, manufacturing and selling of carpet and rugs. The Company offers its products to various residential and commercial customers through its various sales forces and brands. The Company operates through the carpet and rug manufacturing segment. The Company also provides carpet and yarn related services to other manufacturers.
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