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 brokerage currently has a $5.25 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 14.38% from the stock’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% on Tuesday, reaching $4.59. The company had a trading volume of 33,681 shares. The firm has a 50 day moving average price of $4.76 and a 200-day moving average price of $4.05. The stock’s market capitalization is $71.81 million. The Dixie Group has a 12 month low of $3.00 and a 12 month high of $9.48.

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The Dixie Group (NASDAQ:DXYN) last released its earnings results on Wednesday, July 27th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.18. The company earned $105.32 million during the quarter, compared to analysts’ expectations of $107.10 million. The Dixie Group had a negative return on equity of 1.76% and a negative net margin of 0.86%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $0.03 EPS.

Large investors have recently added to or reduced their stakes in the stock. Blair William & Co. IL boosted its stake in 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 period. Boston Partners boosted its stake in 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 period. Emerald Acquisition Ltd. purchased a new stake in The Dixie Group during the second quarter valued at approximately $305,000. FTB Advisors Inc. boosted its stake in 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 period. Finally, First Dallas Securities Inc. boosted its stake in 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 period. 63.65% 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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