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

StockNews.com began coverage on shares of The Dixie Group (NASDAQ:DXYN) in a research note issued to investors on Friday. The brokerage issued a hold rating on the textile maker’s stock.

The Dixie Group Stock Up 7.8 %

DXYN stock opened at $0.76 on Friday. The stock has a market cap of $11.69 million, a PE ratio of -3.04 and a beta of 2.41. The firm’s 50-day simple moving average is $0.70 and its 200 day simple moving average is $0.68. The Dixie Group has a fifty-two week low of $0.46 and a fifty-two week high of $1.00. 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 (NASDAQ:DXYN) last announced its earnings results on Thursday, August 8th. The textile maker reported $0.04 EPS for the quarter. The Dixie Group had a negative return on equity of 1.92% and a negative net margin of 0.42%. 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 grew its position in The Dixie Group, Inc. (NASDAQ:DXYN) by 50.0% during the 2nd quarter, according to the company in its most recent filing 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 about 0.57% of The Dixie Group worth $59,000 at the end of the most recent quarter. 40.00% of the stock is currently owned by 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.