Interface Inc. (TILE) Stock Rating Lowered by Zacks Investment Research
Interface Inc. (NASDAQ:TILE) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Interface, Inc. is a global manufacturer, marketer, installer and servicer of products for the commercial and institutional interiors market. They are a leader in the modular carpet segment, which includes both carpet tile and two-meter roll goods. They provide specialized carpet replacement, installation and maintenance services through their Re:Source Americas service network. Their specialty products operations produce raised/access flooring systems, antimicrobial additives, adhesives and various other specialty chemical compounds and products. “
Other analysts have also recently issued reports about the company. Raymond James Financial Inc. cut Interface from a “market perform” rating to an “underperform” rating in a report on Friday, June 24th. TheStreet raised Interface from a “hold” rating to a “buy” rating in a report on Monday, June 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $20.25.
Interface (NASDAQ:TILE) opened at 16.64 on Thursday. Interface has a 52-week low of $13.70 and a 52-week high of $24.44. The firm has a market capitalization of $1.08 billion, a PE ratio of 15.20 and a beta of 1.35. The company’s 50-day moving average is $17.02 and its 200-day moving average is $16.96.
Interface (NASDAQ:TILE) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.03. Interface had a return on equity of 20.70% and a net margin of 7.40%. The business earned $248.20 million during the quarter, compared to the consensus estimate of $256.99 million. During the same period in the prior year, the company posted $0.33 EPS. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. Analysts forecast that Interface will post $1.15 EPS for the current fiscal year.
In related news, CEO Daniel T. Hendrix sold 3,000 shares of the stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $16.00, for a total transaction of $48,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Stansfield Nigel sold 7,742 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $17.72, for a total value of $137,188.24. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its stake in Interface by 0.6% in the second quarter. Arizona State Retirement System now owns 33,953 shares of the company’s stock valued at $518,000 after buying an additional 200 shares during the last quarter. PineBridge Investments L.P. raised its stake in Interface by 3.2% in the second quarter. PineBridge Investments L.P. now owns 8,303 shares of the company’s stock valued at $127,000 after buying an additional 254 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Interface by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 62,850 shares of the company’s stock valued at $958,000 after buying an additional 810 shares during the last quarter. Princeton Alpha Management LP raised its stake in Interface by 6.1% in the second quarter. Princeton Alpha Management LP now owns 17,173 shares of the company’s stock valued at $262,000 after buying an additional 984 shares during the last quarter. Finally, Pacad Investment Ltd. raised its stake in Interface by 8.5% in the first quarter. Pacad Investment Ltd. now owns 12,806 shares of the company’s stock valued at $237,000 after buying an additional 1,006 shares during the last quarter. Institutional investors own 94.00% of the company’s stock.
Interface Inc is engaged in design, production and sales of modular carpet, also known as carpet tile across the world. The Company markets its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company distributes its product through approximately two primary channels, including direct sales to end users and indirect sales through independent contractors or distributors.
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