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

Stock analysts at StockNews.com initiated coverage on shares of The Dixie Group (NASDAQ:DXYN) in a research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the textile maker’s stock.

The Dixie Group Stock Performance

Shares of DXYN stock opened at $0.65 on Friday. The firm has a market capitalization of $9.96 million, a PE ratio of -3.26 and a beta of 2.64. The company has a 50 day moving average price of $0.67 and a 200-day moving average price of $0.71. The Dixie Group has a 52 week low of $0.45 and a 52 week high of $1.05. The company has a quick ratio of 0.81, a current ratio of 2.54 and a debt-to-equity ratio of 3.60.

The Dixie Group (NASDAQ:DXYN) last announced its earnings results on Monday, October 28th. The textile maker reported ($0.26) earnings per share (EPS) for the quarter. The firm had revenue of $64.88 million during the quarter. The Dixie Group had a negative return on equity of 7.65% and a negative net margin of 0.99%.

Hedge Funds Weigh In On The Dixie Group

A hedge fund recently raised its stake in The Dixie Group stock. Truist Financial Corp boosted its stake in shares of The Dixie Group, Inc. (NASDAQ:DXYN) by 50.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,992 shares of the textile maker’s stock after acquiring an additional 30,000 shares during the quarter. Truist Financial Corp owned about 0.57% of The Dixie Group worth $59,000 as of its most recent SEC filing. 40.00% of the stock is currently owned by hedge funds and other institutional investors.

About The Dixie Group

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.