The Dixie Group Inc. (DXYN) Lifted to Buy at Zacks Investment Research
The Dixie Group Inc. (NASDAQ:DXYN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $5.25 price objective on the stock. Zacks Investment Research’s price target indicates a potential upside of 14.38% 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) “
The Dixie Group (NASDAQ:DXYN) traded down 7.46% during mid-day trading on Tuesday, reaching $4.59. 33,681 shares of the company’s stock traded hands. The firm’s market cap is $71.81 million. The Dixie Group has a one year low of $3.00 and a one year high of $9.48. The firm’s 50-day moving average price is $4.76 and its 200 day moving average price is $4.05.
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The Dixie Group (NASDAQ:DXYN) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.18. The business had revenue of $105.32 million for the quarter, compared to analysts’ expectations of $107.10 million. The Dixie Group had a negative net margin of 0.86% and a negative return on equity of 1.76%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.03 EPS.
Hedge funds and other institutional investors have recently modified their holdings of the company. FTB Advisors Inc. increased its stake in shares of The Dixie Group by 16.0% in the second quarter. FTB Advisors Inc. now owns 31,000 shares of the company’s stock valued at $111,000 after buying an additional 4,277 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of The Dixie Group during the second quarter valued at approximately $305,000. First Dallas Securities Inc. increased its stake in shares of The Dixie Group by 93.2% in the second quarter. First Dallas Securities Inc. now owns 86,050 shares of the company’s stock valued at $306,000 after buying an additional 41,500 shares during the last quarter. Blair William & Co. IL increased its stake in shares of The Dixie Group by 2.0% in the second quarter. Blair William & Co. IL now owns 148,173 shares of the company’s stock valued at $527,000 after buying an additional 2,950 shares during the last quarter. Finally, Boston Partners increased its stake in shares of The Dixie Group by 0.8% in the second quarter. Boston Partners now owns 175,240 shares of the company’s stock valued at $624,000 after buying an additional 1,420 shares during the last quarter. Institutional investors and hedge funds own 63.65% of the company’s stock.
About The Dixie Group
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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