Interface (NASDAQ:TILE) Rating Lowered to Hold at BidaskClub

Interface (NASDAQ:TILE) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday, January 9th.

A number of other equities analysts have also weighed in on TILE. ValuEngine raised shares of Interface from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Stifel Nicolaus restated a “hold” rating and issued a $23.00 target price on shares of Interface in a report on Thursday, October 26th. Zacks Investment Research upgraded shares of Interface from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Saturday, October 28th. Finally, Nomura boosted their target price on shares of Interface from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $25.67.

Shares of Interface (TILE) traded up $0.45 during trading hours on Tuesday, hitting $26.05. 418,917 shares of the stock traded hands, compared to its average volume of 374,164. The stock has a market capitalization of $1,570.00, a P/E ratio of 30.29 and a beta of 1.35. The company has a current ratio of 2.51, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66. Interface has a 1-year low of $17.17 and a 1-year high of $26.10.

Interface (NASDAQ:TILE) last announced its earnings results on Wednesday, October 25th. The textile maker reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $257.43 million during the quarter, compared to analysts’ expectations of $255.63 million. Interface had a net margin of 5.53% and a return on equity of 21.39%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 earnings per share. sell-side analysts forecast that Interface will post 1.15 earnings per share for the current fiscal year.

In related news, Director Daniel T. Hendrix sold 27,000 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $22.95, for a total value of $619,650.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.90% of the company’s stock.

Several large investors have recently modified their holdings of the business. Federated Investors Inc. PA raised its holdings in shares of Interface by 1.2% during the second quarter. Federated Investors Inc. PA now owns 50,004 shares of the textile maker’s stock worth $983,000 after purchasing an additional 600 shares during the period. Victory Capital Management Inc. grew its position in shares of Interface by 17.6% during the second quarter. Victory Capital Management Inc. now owns 7,846 shares of the textile maker’s stock worth $154,000 after acquiring an additional 1,175 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in Interface by 9.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 22,185 shares of the textile maker’s stock valued at $436,000 after buying an additional 1,880 shares in the last quarter. Rhumbline Advisers grew its position in Interface by 1.7% in the 3rd quarter. Rhumbline Advisers now owns 143,899 shares of the textile maker’s stock valued at $3,151,000 after buying an additional 2,455 shares in the last quarter. Finally, American International Group Inc. grew its position in Interface by 5.4% in the 3rd quarter. American International Group Inc. now owns 49,216 shares of the textile maker’s stock valued at $1,078,000 after buying an additional 2,525 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

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Interface Company Profile

Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.

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