Interface, Inc. (NASDAQ:TILE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, October 28th. The brokerage presently has a $26.00 price target on the textile maker’s stock. Zacks Investment Research‘s price target suggests a potential upside of 7.22% from the stock’s current price.
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 equities research analysts also recently issued reports about the company. ValuEngine upgraded Interface from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. BidaskClub downgraded shares of Interface from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Stifel Nicolaus restated a “hold” rating and issued a $19.00 price objective on shares of Interface in a research report on Friday, July 28th. Finally, Nomura boosted their price objective on shares of Interface from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.50.
Shares of Interface (TILE) traded up $1.00 during trading on Friday, reaching $24.25. 495,290 shares of the company were exchanged, compared to its average volume of 439,336. The company has a market cap of $1,460.00, a PE ratio of 20.40 and a beta of 1.32. Interface has a 52 week low of $16.80 and a 52 week high of $24.30. 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 (NASDAQ:TILE) last posted its earnings results on Wednesday, October 25th. The textile maker reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Interface had a net margin of 7.55% and a return on equity of 23.48%. The business had revenue of $257.43 million for the quarter, compared to analysts’ expectations of $255.63 million. During the same quarter in the prior year, the business earned $0.25 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. research analysts anticipate that Interface will post 1.15 earnings per share for the current fiscal year.
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In other news, Director Daniel T. Hendrix sold 27,000 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was 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 Securities & Exchange Commission, which is available through the SEC website. Also, VP Stansfield Nigel sold 8,450 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $19.26, for a total value of $162,747.00. The disclosure for this sale can be found here. Insiders have sold a total of 92,450 shares of company stock worth $2,018,267 in the last 90 days. Company insiders own 1.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of Interface in the 1st quarter valued at about $4,913,000. BlackRock Inc. lifted its position in Interface by 144,783.3% during the 1st quarter. BlackRock Inc. now owns 7,815,006 shares of the textile maker’s stock worth $148,876,000 after acquiring an additional 7,809,612 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Interface by 3.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 430,386 shares of the textile maker’s stock worth $8,458,000 after acquiring an additional 16,228 shares during the period. Bank of New York Mellon Corp lifted its position in Interface by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,112,169 shares of the textile maker’s stock worth $41,504,000 after acquiring an additional 36,699 shares during the period. Finally, Peregrine Capital Management LLC lifted its position in Interface by 2.0% during the 2nd quarter. Peregrine Capital Management LLC now owns 547,281 shares of the textile maker’s stock worth $10,754,000 after acquiring an additional 10,950 shares during the period. Institutional investors and hedge funds own 92.88% of the company’s stock.
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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