The Dixie Group Inc. (DXYN) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of The Dixie Group Inc. (NASDAQ:DXYN) from a strong-buy rating to a hold rating in a research report report published 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) “

Shares of The Dixie Group (NASDAQ:DXYN) traded down 2.11% during trading on Tuesday, hitting $4.64. The stock had a trading volume of 8,381 shares. The stock has a 50-day moving average of $4.43 and a 200 day moving average of $4.01. The firm’s market cap is $72.59 million. The Dixie Group has a 12-month low of $3.00 and a 12-month high of $9.89.

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

Large investors have recently bought and sold shares of the stock. Blair William & Co. IL raised 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 worth $527,000 after buying an additional 2,950 shares during the period. Boston Partners raised 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 worth $624,000 after buying an additional 1,420 shares during the period. Emerald Acquisition Ltd. bought a new stake in The Dixie Group during the second quarter worth about $305,000. FTB Advisors Inc. raised 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 worth $111,000 after buying an additional 4,277 shares during the period. Finally, First Dallas Securities Inc. raised 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 worth $306,000 after buying an additional 41,500 shares during the period. Institutional investors and hedge funds own 63.65% 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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