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 to clients and investors on Monday. The brokerage presently has a $4.75 price target on the textile maker’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.76% from the stock’s current price.

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 (DXYN) traded down 1.16% during midday trading on Monday, hitting $4.25. The stock had a trading volume of 23,022 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 of $4.42 and a 200 day moving average of $3.90. The firm’s market cap is $66.61 million.

The Dixie Group (NASDAQ:DXYN) last released its quarterly earnings data on Thursday, August 3rd. The textile maker reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The Dixie Group had a negative return on equity of 1.62% and a negative net margin of 0.41%. The company had revenue of $107.20 million for the quarter, compared to analysts’ expectations of $107.60 million. During the same period last year, the firm posted $0.12 earnings per share. The Dixie Group’s revenue was up 1.8% compared to the same quarter last year. Equities research analysts predict that The Dixie Group will post $0.18 EPS for the current year.

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Large investors have recently added to or reduced their stakes in the stock. Penn Capital Management Co. Inc. boosted its stake in The Dixie Group by 13.9% in the fourth quarter. Penn Capital Management Co. Inc. now owns 670,678 shares of the textile maker’s stock valued at $3,508,000 after buying an additional 81,643 shares during the period. Boston Partners boosted its stake in The Dixie Group by 47.8% in the fourth quarter. Boston Partners now owns 199,370 shares of the textile maker’s stock valued at $1,043,000 after buying an additional 64,480 shares during the period. Wells Fargo & Company MN boosted its stake in The Dixie Group by 12.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,294,149 shares of the textile maker’s stock valued at $6,769,000 after buying an additional 143,097 shares during the period. Royce & Associates LLC boosted its stake in The Dixie Group by 1.8% in the fourth quarter. Royce & Associates LLC now owns 1,511,889 shares of the textile maker’s stock valued at $7,907,000 after buying an additional 27,139 shares during the period. Finally, Hodges Capital Management Inc. boosted its stake in The Dixie Group by 36.2% in the fourth quarter. Hodges Capital Management Inc. now owns 1,876,085 shares of the textile maker’s stock valued at $9,812,000 after buying an additional 499,070 shares during the period. 62.49% of the stock is currently owned by 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.

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