Interface (NASDAQ:TILE) Stock Rating Lowered by Zacks Research

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

A number of other equities research analysts also recently issued reports on TILE. Weiss Ratings reiterated a “buy (b-)” rating on shares of Interface in a research report on Wednesday, June 17th. Benchmark initiated coverage on Interface in a research note on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price objective for the company. Wall Street Zen raised Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, Barrington Research reiterated an “outperform” rating and set a $36.00 target price on shares of Interface in a research report on Friday, April 17th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Interface Stock Performance

NASDAQ:TILE opened at $33.52 on Tuesday. The firm’s fifty day simple moving average is $32.26 and its 200-day simple moving average is $30.23. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.30. The stock has a market cap 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. Interface has a fifty-two week low of $20.37 and a fifty-two week high of $36.66.

Interface (NASDAQ:TILE) last released its quarterly earnings data 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 the consensus estimate of $320.38 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. Analysts expect that Interface will post 2.11 earnings per share for the current fiscal year.

Insider Activity at Interface

In related news, VP David B. Foshee sold 44,393 shares of Interface stock in a transaction that occurred 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 in the company, valued at $5,075,406. The trade was a 20.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the company’s 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 approximately $3,537,132.96. The trade was a 29.54% decrease in their position. The SEC filing for this sale provides additional information. 2.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Interface

A number of institutional investors have recently made changes to their positions in TILE. Royal Bank of Canada boosted its stake in shares of Interface by 8.4% during the first quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker’s stock valued at $390,000 after acquiring an additional 1,522 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Interface by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker’s stock valued at $677,000 after purchasing an additional 1,485 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Interface by 5.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock valued at $14,854,000 after purchasing an additional 42,011 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Interface by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker’s stock valued at $3,015,000 after purchasing an additional 9,580 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Interface by 24.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 201,630 shares of the textile maker’s stock valued at $4,220,000 after purchasing an additional 39,941 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

About Interface

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.