Interface (TILE) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Interface (NASDAQ:TILE) from a sell rating to a hold rating in a research note issued to investors on Thursday.

TILE has been the topic of a number of other reports. Nomura set a $26.00 price objective on shares of Interface and gave the company a buy rating in a research report on Monday, December 17th. TheStreet downgraded shares of Interface from a b rating to a c+ rating in a research report on Wednesday, October 24th. ValuEngine raised shares of Interface from a sell rating to a hold rating in a research report on Thursday, October 18th. Finally, Macquarie set a $20.00 target price on shares of Interface and gave the company a hold rating in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $25.00.

Shares of NASDAQ:TILE traded up $0.06 during trading hours on Thursday, reaching $15.62. The stock had a trading volume of 294,900 shares, compared to its average volume of 512,050. Interface has a 1 year low of $13.45 and a 1 year high of $26.25. The company has a current ratio of 2.52, a quick ratio of 1.35 and a debt-to-equity ratio of 1.75. The company has a market cap of $915.42 million, a PE ratio of 13.23 and a beta of 1.43.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Wednesday, October 24th. The textile maker reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.01. Interface had a net margin of 4.35% and a return on equity of 24.69%. The company had revenue of $318.33 million for the quarter, compared to the consensus estimate of $316.38 million. During the same period in the prior year, the firm posted $0.32 EPS. As a group, equities research analysts expect that Interface will post 1.48 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC raised its position in shares of Interface by 203.4% in the second quarter. SG Americas Securities LLC now owns 19,434 shares of the textile maker’s stock worth $446,000 after acquiring an additional 13,028 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Interface by 4.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 544,961 shares of the textile maker’s stock worth $12,507,000 after purchasing an additional 23,599 shares in the last quarter. BlackRock Inc. increased its stake in shares of Interface by 7.2% during the second quarter. BlackRock Inc. now owns 9,237,013 shares of the textile maker’s stock worth $211,990,000 after purchasing an additional 619,945 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Interface by 6.0% during the second quarter. Legal & General Group Plc now owns 129,851 shares of the textile maker’s stock worth $2,975,000 after purchasing an additional 7,293 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Interface by 76.1% during the second quarter. Renaissance Technologies LLC now owns 326,300 shares of the textile maker’s stock worth $7,489,000 after purchasing an additional 140,960 shares in the last quarter. 91.70% of the stock is currently owned by hedge funds and other institutional investors.

About Interface

Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; and luxury vinyl tile products.

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