Zacks Investment Research upgraded shares of Dixie Group Inc (NASDAQ:DXYN) from a strong sell rating to a hold rating in a research report sent to investors on Friday, May 5th. Zacks Investment Research currently has $5.00 target price on the textile maker’s stock.
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 Dixie Group (NASDAQ:DXYN) traded up 1.23% during midday trading on Friday, reaching $4.10. The company’s stock had a trading volume of 3,976 shares. The company’s market capitalization is $64.26 million. Dixie Group has a 52-week low of $3.15 and a 52-week high of $5.56. The stock has a 50 day moving average price of $3.78 and a 200-day moving average price of $3.61.
Dixie Group (NASDAQ:DXYN) last posted its quarterly earnings data 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. Dixie Group had a negative return on equity of 1.66% and a negative net margin of 0.77%. The firm had revenue of $97.50 million during the quarter, compared to analyst estimates of $91.90 million. During the same period last year, the company posted ($0.25) EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts expect that Dixie Group will post $0.14 EPS for the current year.
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Several hedge funds have recently modified their holdings of DXYN. Boston Partners increased its stake in shares of Dixie Group by 100.1% in the third quarter. Boston Partners now owns 350,710 shares of the textile maker’s stock valued at $1,754,000 after buying an additional 175,470 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Dixie Group by 322.6% in the third quarter. Advisor Group Inc. now owns 66,415 shares of the textile maker’s stock valued at $332,000 after buying an additional 50,700 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Dixie Group during the third quarter valued at approximately $220,000. Formula Growth Ltd. increased its stake in shares of Dixie Group by 30.7% in the third quarter. Formula Growth Ltd. now owns 693,911 shares of the textile maker’s stock valued at $3,470,000 after buying an additional 163,075 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Dixie Group during the fourth quarter valued at approximately $493,000. Institutional investors own 63.65% of the company’s stock.
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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