StockNews.com Initiates Coverage on The Dixie Group (NASDAQ:DXYN)

Analysts at StockNews.com initiated coverage on shares of The Dixie Group (NASDAQ:DXYN) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the textile maker’s stock.

The Dixie Group Stock Performance

The Dixie Group stock opened at $0.62 on Thursday. The firm’s fifty day moving average price is $0.67 and its 200-day moving average price is $0.71. The company has a debt-to-equity ratio of 3.60, a quick ratio of 0.81 and a current ratio of 2.54. The stock has a market cap of $9.39 million, a P/E ratio of -3.08 and a beta of 2.66. The Dixie Group has a fifty-two week low of $0.45 and a fifty-two week high of $1.05.

Institutional Trading of The Dixie Group

A hedge fund recently raised its stake in The Dixie Group stock. Truist Financial Corp grew its stake in shares of The Dixie Group, Inc. (NASDAQ:DXYN) by 50.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,992 shares of the textile maker’s stock after buying an additional 30,000 shares during the quarter. Truist Financial Corp owned 0.57% of The Dixie Group worth $59,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 40.00% of the company’s stock.

About The Dixie Group

The Dixie Group, Inc manufactures, markets, and sells floorcovering products to residential customers in North America and internationally. The company offers residential carpets, custom rugs, and engineered wood products under the Fabrica brand for interior decorators and designers, selected retailers and furniture stores, luxury home builders, and manufacturers of luxury motor coaches and yachts; and specialty carpets and rugs for the high-end residential marketplace, as well as luxury vinyl flooring products and broadloom carpet products under the Masland Residential brand name through the interior design community and specialty floorcovering retailers.