Dixie Group (DXYN) Stock Rating Upgraded by Zacks Investment Research

Dixie Group (NASDAQ:DXYN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

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) “

Shares of Dixie Group (NASDAQ:DXYN) remained flat at $$3.45 during midday trading on Tuesday. The stock had a trading volume of 11,900 shares, compared to its average volume of 16,957. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.81 and a current ratio of 2.61. Dixie Group has a 1-year low of $3.30 and a 1-year high of $5.20. The firm has a market cap of $55.69, a price-to-earnings ratio of -21.56 and a beta of 0.60.

Several hedge funds and other institutional investors have recently modified their holdings of DXYN. Wells Fargo & Company MN raised its position in shares of Dixie Group by 1.2% during the 2nd quarter. Wells Fargo & Company MN now owns 1,642,534 shares of the textile maker’s stock worth $7,328,000 after acquiring an additional 19,585 shares in the last quarter. GRT Capital Partners L.L.C. raised its position in shares of 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 in the last quarter. Northern Trust Corp raised its position in shares of 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 in the last quarter. Advisor Group Inc. raised its position in shares of 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 in the last quarter. Finally, FTB Advisors Inc. raised its position in shares of 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 in the last quarter. 62.87% of the stock is currently owned by institutional investors and hedge funds.

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About Dixie Group

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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