StockNews.com Initiates Coverage on The Dixie Group (NASDAQ:DXYN)

Investment analysts at StockNews.com started coverage on shares of The Dixie Group (NASDAQ:DXYN) in a note issued to investors on Monday. The firm set a “hold” rating on the textile maker’s stock.

The Dixie Group Stock Performance

DXYN stock opened at $0.76 on Monday. The company has a 50-day simple moving average of $0.72 and a 200 day simple moving average of $0.69. The company has a market capitalization of $12.08 million, a P/E ratio of -3.04 and a beta of 2.68. The company has a quick ratio of 0.87, a current ratio of 2.57 and a debt-to-equity ratio of 3.03. The Dixie Group has a fifty-two week low of $0.46 and a fifty-two week high of $1.00.

The Dixie Group (NASDAQ:DXYN) last posted its quarterly earnings data on Thursday, August 8th. The textile maker reported $0.04 earnings per share (EPS) for the quarter. The Dixie Group had a negative net margin of 0.42% and a negative return on equity of 1.92%. The business had revenue of $70.51 million during the quarter.

Institutional Investors Weigh In On The Dixie Group

An institutional investor recently raised its position in The Dixie Group stock. Truist Financial Corp boosted its holdings in shares of The Dixie Group, Inc. (NASDAQ:DXYN) by 50.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,992 shares of the textile maker’s stock after purchasing an additional 30,000 shares during the period. Truist Financial Corp owned approximately 0.57% of The Dixie Group worth $59,000 at the end of the most recent quarter. 40.00% of the stock is owned by institutional investors and hedge funds.

The Dixie Group Company Profile

The Dixie Group, Inc manufactures, markets, and sells floorcovering products to residential customers in North America and internationally. The company offers residential carpets, custom rugs, and engineered wood products under the Fabrica brand for interior decorators and designers, selected retailers and furniture stores, luxury home builders, and manufacturers of luxury motor coaches and yachts; and specialty carpets and rugs for the high-end residential marketplace, as well as luxury vinyl flooring products and broadloom carpet products under the Masland Residential brand name through the interior design community and specialty floorcovering retailers.