Interface (NASDAQ:TILE) Rating Lowered to Hold at Zacks Research

Interface (NASDAQ:TILE) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Barrington Research reissued an “outperform” rating and issued a $36.00 price objective on shares of Interface in a research note on Friday, April 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Interface in a research report on Wednesday, June 17th. Finally, Benchmark assumed coverage on Interface in a research report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Interface Stock Down 2.7%

Shares of NASDAQ:TILE opened at $33.52 on Tuesday. Interface has a 1 year low of $20.37 and a 1 year high of $36.66. The firm has a market capitalization of $1.95 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.09 and a beta of 1.88. The business has a 50 day simple moving average of $32.26 and a two-hundred day simple moving average of $30.23. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.43 and a quick ratio of 1.16.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Friday, May 8th. The textile maker reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. Interface had a net margin of 8.92% and a return on equity of 20.09%. The firm had revenue of $331.04 million for the quarter, compared to analysts’ expectations of $320.38 million. During the same period in the prior year, the business posted $0.25 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, equities analysts predict that Interface will post 2.11 EPS for the current year.

Insider Activity

In related news, CFO Bruce Andrew Hausmann sold 50,000 shares of Interface stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total value of $1,483,000.00. Following the completion of the sale, the chief financial officer directly owned 119,256 shares in the company, valued at $3,537,132.96. This trade represents a 29.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David B. Foshee sold 44,393 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the completion of the transaction, the vice president directly owned 175,014 shares of the company’s stock, valued at approximately $5,075,406. This represents a 20.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.47% of the stock is currently owned by company insiders.

Institutional Trading of Interface

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Interface by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,689,857 shares of the textile maker’s stock worth $75,105,000 after purchasing an additional 36,530 shares during the period. State Street Corp boosted its holdings in shares of Interface by 0.7% in the 4th quarter. State Street Corp now owns 2,192,472 shares of the textile maker’s stock valued at $61,214,000 after acquiring an additional 14,764 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Interface by 133.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker’s stock worth $56,071,000 after acquiring an additional 1,149,733 shares during the period. GW&K Investment Management LLC raised its holdings in shares of Interface by 12.7% during the fourth quarter. GW&K Investment Management LLC now owns 993,413 shares of the textile maker’s stock worth $27,736,000 after purchasing an additional 111,564 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Interface by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 870,156 shares of the textile maker’s stock valued at $24,295,000 after purchasing an additional 33,650 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Company Profile

Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.