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

The Dixie Group, Inc. (NASDAQ:DXYN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Monday.

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 cut The Dixie Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th.

Shares of The Dixie Group (NASDAQ:DXYN) traded down $0.15 during trading on Monday, reaching $3.85. The company had a trading volume of 188,600 shares, compared to its average volume of 20,664. The Dixie Group has a fifty-two week low of $3.25 and a fifty-two week high of $5.20. The company has a current ratio of 2.61, a quick ratio of 0.81 and a debt-to-equity ratio of 1.46.

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Institutional investors have recently made changes to their positions in the stock. Boston Partners grew its holdings in The Dixie Group by 26.1% during the 2nd quarter. Boston Partners now owns 637,620 shares of the textile maker’s stock valued at $2,869,000 after buying an additional 131,820 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in The Dixie Group by 41.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 323,120 shares of the textile maker’s stock valued at $1,454,000 after buying an additional 94,220 shares in the last quarter. Wells Fargo & Company MN grew its holdings in The Dixie Group by 3.3% during the 3rd quarter. Wells Fargo & Company MN now owns 1,696,021 shares of the textile maker’s stock valued at $6,785,000 after buying an additional 53,487 shares in the last quarter. Royce & Associates LP grew its holdings in The Dixie Group by 2.9% during the 2nd quarter. Royce & Associates LP now owns 1,399,111 shares of the textile maker’s stock valued at $6,296,000 after buying an additional 39,455 shares in the last quarter. Finally, FTB Advisors Inc. grew its holdings 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 valued at $128,000 after buying an additional 12,016 shares in the last quarter. Institutional investors and hedge funds 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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