Interface, Inc. (NASDAQ:TILE) Rating Lowered to Hold at ValuEngine

Interface, Inc. (NASDAQ:TILE) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday, August 1st.

Other equities research analysts also recently issued reports about the stock. Nomura started coverage on shares of Interface in a research note on Wednesday, April 12th. They issued a “buy” rating and a $22.00 price target for the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $19.00 price target on shares of Interface in a research note on Friday, July 28th. BidaskClub downgraded shares of Interface from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Zacks Investment Research downgraded shares of Interface from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $19.00.

Interface (NASDAQ TILE) traded up 0.80% during mid-day trading on Tuesday, hitting $18.85. 442,427 shares of the company were exchanged. The company’s 50-day moving average is $19.03 and its 200 day moving average is $19.14. Interface has a 12-month low of $14.59 and a 12-month high of $21.05. The company has a market capitalization of $1.16 billion, a P/E ratio of 24.26 and a beta of 1.20.

Interface (NASDAQ:TILE) last announced its earnings results on Wednesday, July 26th. The textile maker reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Interface had a net margin of 5.21% and a return on equity of 19.66%. The business had revenue of $251.70 million during the quarter, compared to the consensus estimate of $254.94 million. During the same quarter last year, the firm earned $0.32 earnings per share. Interface’s quarterly revenue was up 1.4% on a year-over-year basis. Analysts expect that Interface will post $1.14 EPS for the current year.

Interface declared that its board has authorized a stock repurchase program on Wednesday, April 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the textile maker to purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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In other Interface news, Director Daniel T. Hendrix sold 6,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $19.11, for a total value of $114,660.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Robert Coombs sold 12,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $20.40, for a total transaction of $244,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,000 shares of company stock worth $796,600. 1.90% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in TILE. Ameritas Investment Partners Inc. acquired a new stake in shares of Interface during the first quarter worth approximately $106,000. Victory Capital Management Inc. raised its stake in Interface by 38.3% in the first quarter. Victory Capital Management Inc. now owns 6,671 shares of the textile maker’s stock worth $127,000 after buying an additional 1,849 shares during the period. KBC Group NV purchased a new stake in Interface during the second quarter worth $133,000. State of Alaska Department of Revenue raised its stake in Interface by 1.1% in the first quarter. State of Alaska Department of Revenue now owns 7,090 shares of the textile maker’s stock worth $135,000 after buying an additional 80 shares during the period. Finally, First Mercantile Trust Co. raised its stake in Interface by 6.9% in the first quarter. First Mercantile Trust Co. now owns 8,157 shares of the textile maker’s stock worth $155,000 after buying an additional 526 shares during the period. Institutional investors own 91.04% of the company’s stock.

About Interface

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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