Interface (NASDAQ:TILE) Rating Lowered to Strong Sell at ValuEngine

Interface (NASDAQ:TILE) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday, ValuEngine reports.

Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Interface from a “hold” rating to a “sell” rating in a research note on Sunday, November 3rd. BidaskClub upgraded shares of Interface from a “hold” rating to a “buy” rating in a research note on Saturday, December 7th. Finally, Longbow Research cut shares of Interface from a “buy” rating to a “neutral” rating in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Interface presently has a consensus rating of “Hold” and a consensus target price of $20.50.

Shares of NASDAQ TILE opened at $17.39 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 1.18 and a debt-to-equity ratio of 1.92. Interface has a 12 month low of $10.37 and a 12 month high of $19.40. The company has a 50 day simple moving average of $16.70 and a two-hundred day simple moving average of $14.49. The stock has a market cap of $991.35 million, a price-to-earnings ratio of 11.67 and a beta of 1.58.

Interface (NASDAQ:TILE) last posted its earnings results on Friday, October 25th. The textile maker reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.05. Interface had a net margin of 5.16% and a return on equity of 25.71%. The firm had revenue of $348.40 million during the quarter, compared to analysts’ expectations of $346.58 million. During the same period in the previous year, the business posted $0.41 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. Analysts forecast that Interface will post 1.53 EPS for the current year.

In other news, Director Christopher G. Kennedy bought 44,160 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was purchased at an average cost of $13.73 per share, for a total transaction of $606,316.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio increased its holdings in Interface by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 165,774 shares of the textile maker’s stock worth $2,394,000 after acquiring an additional 852 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Interface by 5.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,705 shares of the textile maker’s stock worth $357,000 after acquiring an additional 1,180 shares in the last quarter. Arizona State Retirement System increased its holdings in Interface by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 93,054 shares of the textile maker’s stock worth $1,427,000 after acquiring an additional 1,338 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in Interface by 100.8% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,992 shares of the textile maker’s stock worth $46,000 after acquiring an additional 1,502 shares in the last quarter. Finally, First Mercantile Trust Co. increased its holdings in Interface by 9.2% in the 2nd quarter. First Mercantile Trust Co. now owns 21,159 shares of the textile maker’s stock worth $324,000 after acquiring an additional 1,790 shares in the last quarter. 88.88% of the stock is owned by 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; rubber flooring under the norament and noraplan brands; and luxury vinyl tile products.

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