Dixie Group (DXYN) Sets New 52-Week Low on Disappointing Earnings

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

The textile maker reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.13). The business had revenue of $101.56 million during the quarter. Dixie Group had a negative net margin of 3.58% and a negative return on equity of 5.61%.

Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Dixie Group from a “sell” rating to a “hold” rating in a research report on Monday, September 17th. ValuEngine downgraded shares of Dixie Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd.

A hedge fund recently raised its stake in Dixie Group stock. Russell Investments Group Ltd. raised its holdings in Dixie Group Inc (NASDAQ:DXYN) by 4.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 630,420 shares of the textile maker’s stock after purchasing an additional 26,600 shares during the period. Russell Investments Group Ltd. owned 3.84% of Dixie Group worth $1,450,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 60.11% of the company’s stock.

The firm has a market cap of $20.56 million, a PE 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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About Dixie Group (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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