The Dixie Group, Inc. (DXYN) Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of The Dixie Group, Inc. (NASDAQ:DXYN) from a hold rating to a strong sell rating in a report released on Monday morning.

According to Zacks, “Dixie Group Inc. is a leading carpet and rug manufacturer and supplier to higher-end residential and commercial customers serviced by Masland Carpets and Fabrica International, to consumers through major retailers under the Bretlin, Globaltex and Alliance Mills brands and to the factory-built housing and recreational vehicle markets through Carriage Carpets. Dixie’s Candlewick Yarns serves specialty carpet yarn customers.(PR) “

Separately, ValuEngine lowered The Dixie Group from a hold rating to a sell rating in a research note on Thursday, August 24th.

The Dixie Group (NASDAQ:DXYN) traded up $0.05 during mid-day trading on Monday, hitting $3.90. The stock had a trading volume of 1,900 shares, compared to its average volume of 20,578. The Dixie Group has a 52 week low of $3.25 and a 52 week high of $5.20. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.81 and a current ratio of 2.61.

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Hedge funds have recently added to or reduced their stakes in the company. FTB Advisors Inc. grew its position in The Dixie Group by 71.3% during the 2nd quarter. FTB Advisors Inc. now owns 28,869 shares of the textile maker’s stock worth $128,000 after acquiring an additional 12,016 shares during the last quarter. GRT Capital Partners L.L.C. grew its position in The Dixie Group by 17.0% during the 2nd quarter. GRT Capital Partners L.L.C. now owns 31,000 shares of the textile maker’s stock worth $138,000 after acquiring an additional 4,500 shares during the last quarter. Northern Trust Corp grew its position in The Dixie Group by 4.0% during the 2nd quarter. Northern Trust Corp now owns 31,483 shares of the textile maker’s stock worth $141,000 after acquiring an additional 1,198 shares during the last quarter. Advisor Group Inc. grew its position in The Dixie Group by 2.7% during the 2nd quarter. Advisor Group Inc. now owns 89,945 shares of the textile maker’s stock worth $401,000 after acquiring an additional 2,350 shares during the last quarter. Finally, Blair William & Co. IL grew its position in The Dixie Group by 5.2% during the 2nd quarter. Blair William & Co. IL now owns 191,968 shares of the textile maker’s stock worth $856,000 after acquiring an additional 9,500 shares during the last quarter. Institutional investors own 60.91% of the company’s stock.

The Dixie Group Company Profile

The Dixie Group, Inc is engaged in marketing, manufacturing and selling of carpet and rugs. The Company offers its products to various residential and commercial customers through its various sales forces and brands. The Company operates through the carpet and rug manufacturing segment. The Company also provides carpet and yarn related services to other manufacturers.

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