The Dixie Group, Inc. (NASDAQ:DXYN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, July 18th. The brokerage presently has a $5.00 price target on the textile maker’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 17.65% from the company’s previous close.
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 (NASDAQ:DXYN) traded down 5.56% during mid-day trading on Tuesday, hitting $4.25. The stock had a trading volume of 17,254 shares. The Dixie Group has a 52-week low of $3.20 and a 52-week high of $5.56. The firm has a 50 day moving average price of $4.37 and a 200 day moving average price of $3.95. The firm’s market cap is $66.75 million.
The Dixie Group (NASDAQ:DXYN) last issued its earnings results on Thursday, August 3rd. The textile maker reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $107.20 million during the quarter, compared to analyst estimates of $107.60 million. The Dixie Group had a negative net margin of 0.41% and a negative return on equity of 1.62%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS. Equities analysts predict that The Dixie Group will post $0.18 EPS for the current year.
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Several large investors have recently modified their holdings of DXYN. FTB Advisors Inc. increased 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 in the last quarter. GRT Capital Partners L.L.C. increased 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 in the last quarter. Northern Trust Corp increased its position in The Dixie Group by 4.0% in the second quarter. Northern Trust Corp now owns 31,483 shares of the textile maker’s stock worth $141,000 after buying an additional 1,198 shares in the last quarter. Advisor Group Inc. increased 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 in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in The Dixie Group during the fourth quarter worth $493,000. 63.53% of the stock is owned by 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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