The Dixie Group (NASDAQ:DXYN) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of The Dixie Group (NASDAQ:DXYN) in a report published on Friday. The firm issued a hold rating on the textile maker’s stock.

The Dixie Group Stock Up 2.6 %

DXYN opened at $0.90 on Friday. The business has a 50 day moving average price of $0.78 and a 200 day moving average price of $0.74. The Dixie Group has a twelve month low of $0.45 and a twelve month high of $1.00. The company has a debt-to-equity ratio of 3.03, a quick ratio of 0.87 and a current ratio of 2.57. The firm has a market cap of $14.35 million, a P/E ratio of -3.61 and a beta of 2.67.

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

Institutional Investors Weigh In On The Dixie Group

A hedge fund recently raised its stake in The Dixie Group stock. Truist Financial Corp increased its stake in The Dixie Group, Inc. (NASDAQ:DXYN) by 50.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 89,992 shares of the textile maker’s stock after purchasing an additional 30,000 shares during the quarter. Truist Financial Corp owned approximately 0.57% of The Dixie Group worth $59,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 40.00% of the company’s stock.

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.