The Dixie Group, Inc. (DXYN) Downgraded by Zacks Investment Research
The Dixie Group, Inc. (NASDAQ:DXYN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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 up 1.16% during mid-day trading on Wednesday, reaching $4.35. 10,459 shares of the company traded hands. The Dixie Group has a 52-week low of $3.20 and a 52-week high of $5.56. The stock’s 50 day moving average is $4.40 and its 200 day moving average is $3.85. The stock’s market capitalization is $68.18 million.
The Dixie Group (NASDAQ:DXYN) last posted its earnings results on Thursday, May 4th. The textile maker reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. The Dixie Group had a negative net margin of 0.27% and a negative return on equity of 0.81%. The business had revenue of $97.50 million for the quarter, compared to analyst estimates of $91.90 million. During the same quarter in the prior year, the firm earned ($0.25) EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts anticipate that The Dixie Group will post $0.14 earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: “The Dixie Group, Inc. (DXYN) Downgraded by Zacks Investment Research” was published by American Banking News and is the property of of American Banking News. If you are reading this news story on another publication, it was illegally copied and republished in violation of United States & international copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/07/19/the-dixie-group-inc-dxyn-downgraded-by-zacks-investment-research.html.
A number of large investors have recently modified their holdings of the company. Prescott Group Capital Management L.L.C. raised its stake in shares of The Dixie Group by 51.0% in the first quarter. Prescott Group Capital Management L.L.C. now owns 192,420 shares of the textile maker’s stock worth $693,000 after buying an additional 65,000 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of The Dixie Group during the fourth quarter worth approximately $493,000. Boston Partners raised its stake in shares of The Dixie Group by 78.8% in the first quarter. Boston Partners now owns 505,800 shares of the textile maker’s stock worth $1,821,000 after buying an additional 222,900 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of The Dixie Group by 4.4% in the first quarter. Wells Fargo & Company MN now owns 1,622,949 shares of the textile maker’s stock worth $5,842,000 after buying an additional 68,139 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of The Dixie Group by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,091,102 shares of the textile maker’s stock worth $3,928,000 after buying an additional 12,572 shares in the last quarter. 62.44% of the stock is currently owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for The Dixie Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Dixie Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.