Zacks Investment Research upgraded shares of The Dixie Group Inc. (NASDAQ:DXYN) from a hold rating to a buy rating in a research report released on Tuesday. The firm currently has $5.25 target price on the 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) “

The Dixie Group (NASDAQ:DXYN) opened at 4.59 on Tuesday. The company’s 50-day moving average price is $4.76 and its 200-day moving average price is $4.05. The company’s market capitalization is $71.81 million. The Dixie Group has a 52 week low of $3.00 and a 52 week high of $9.48.

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

Several large investors have recently modified their holdings of the stock. FTB Advisors Inc. boosted its stake in shares of The Dixie Group by 16.0% in the second quarter. FTB Advisors Inc. now owns 31,000 shares of the company’s stock valued at $111,000 after buying an additional 4,277 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of The Dixie Group during the second quarter valued at about $305,000. First Dallas Securities Inc. boosted its stake 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 valued at $306,000 after buying an additional 41,500 shares during the period. Blair William & Co. IL boosted its stake 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 valued at $527,000 after buying an additional 2,950 shares during the period. Finally, Boston Partners boosted its stake 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 valued at $624,000 after buying an additional 1,420 shares during the period. Institutional investors and hedge funds 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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