Zacks Investment Research Upgrades The Dixie Group Inc. (DXYN) to “Buy”
The Dixie Group Inc. (NASDAQ:DXYN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $5.25 target price on the stock. Zacks Investment Research’s price target suggests a potential upside of 15.89% from the stock’s previous close.
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) opened at 4.53 on Tuesday. The company’s market capitalization is $70.87 million. The Dixie Group has a 52-week low of $3.00 and a 52-week high of $9.29. The firm’s 50 day moving average is $4.78 and its 200-day moving average is $4.05.
The Dixie Group (NASDAQ:DXYN) last announced its quarterly earnings data 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 net margin of 0.86% and a negative return on equity of 1.76%. The company earned $105.32 million during the quarter, compared to analysts’ expectations of $107.10 million. During the same quarter in the prior year, the company posted $0.03 EPS. The business’s revenue was down 4.2% on a year-over-year basis.
Several institutional investors have recently made changes to their positions in the stock. Royce & Associates LP boosted its position in shares of The Dixie Group by 0.6% in the first quarter. Royce & Associates LP now owns 1,521,707 shares of the company’s stock worth $6,406,000 after buying an additional 9,818 shares in the last quarter. Boston Partners boosted its position in shares of 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 in the last quarter. Blair William & Co. IL boosted its position in shares of 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 in the last quarter. First Dallas Securities Inc. boosted its position in shares of 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 in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new position in shares of The Dixie Group during the second quarter worth about $305,000. Institutional investors own 63.65% of the company’s stock.
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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