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 Tuesday.

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 up 1.18% during mid-day trading on Tuesday, hitting $4.30. The company had a trading volume of 12,867 shares. The stock’s market capitalization is $67.39 million. The stock has a 50 day moving average price of $4.39 and a 200-day moving average price of $3.90. The Dixie Group has a 1-year low of $3.20 and a 1-year high of $5.56.

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

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Several institutional investors have recently added to or reduced their stakes in the stock. FTB Advisors Inc. increased its position in The Dixie Group by 16.0% in the second quarter. FTB Advisors Inc. now owns 31,000 shares of the textile maker’s stock worth $111,000 after buying an additional 4,277 shares in the last quarter. Acrospire Investment Management LLC acquired a new position in The Dixie Group during the third quarter worth about $220,000. Emerald Acquisition Ltd. acquired a new position in The Dixie Group during the second quarter worth about $305,000. First Dallas Securities Inc. increased its position in The Dixie Group by 93.2% in the second quarter. First Dallas Securities Inc. now owns 86,050 shares of the textile maker’s stock worth $306,000 after buying an additional 41,500 shares in the last quarter. Finally, Advisor Group Inc. increased its position in The Dixie Group by 322.6% in the third quarter. Advisor Group Inc. now owns 66,415 shares of the textile maker’s stock worth $332,000 after buying an additional 50,700 shares in the last quarter. Hedge funds and other institutional investors own 62.49% of the company’s stock.

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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