Dixie Group (DXYN) Sets New 12-Month Low Following Weak Earnings

Dixie Group Inc (NASDAQ:DXYN)’s share price reached a new 52-week low during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $0.62 and last traded at $0.94, with a volume of 588 shares trading hands. The stock had previously closed at $1.25.

The textile maker reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.13). Dixie Group had a negative return on equity of 5.61% and a negative net margin of 3.58%. The firm had revenue of $101.56 million during the quarter.

DXYN has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Dixie Group from a “sell” rating to a “hold” rating in a research report on Monday, September 17th. ValuEngine lowered shares of Dixie Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd.

An institutional investor recently raised its position in Dixie Group stock. Hodges Capital Management Inc. lifted its stake in shares of Dixie Group Inc (NASDAQ:DXYN) by 13.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,637,809 shares of the textile maker’s stock after acquiring an additional 191,500 shares during the quarter. Hodges Capital Management Inc. owned approximately 9.96% of Dixie Group worth $2,620,000 at the end of the most recent reporting period. Institutional investors own 60.11% of the company’s stock.

The stock has a market capitalization of $20.56 million, a P/E ratio of -13.43 and a beta of 0.33. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.85 and a current ratio of 2.70.

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Dixie Group Company Profile (NASDAQ:DXYN)

The Dixie Group, Inc manufactures, markets, and sells floorcovering products for residential and commercial applications primarily in the United States. It offers residential carpets and custom rugs, specialty carpets and rugs, residential tufted broadloom and rugs, and broadloom and modular carpet tiles.

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