Interface (NASDAQ:TILE) Cut to Hold at Zacks Research

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

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

Interface Stock Down 2.7%

Shares of NASDAQ:TILE opened at $33.52 on Tuesday. The company has a market capitalization of $1.95 billion, a PE ratio of 15.66, a P/E/G ratio of 1.09 and a beta of 1.88. The company has a current ratio of 2.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30. Interface has a twelve month low of $20.37 and a twelve month high of $36.66. The firm has a 50 day simple moving average of $32.26 and a 200-day simple moving average of $30.23.

Interface (NASDAQ:TILE) last posted its earnings results on Friday, May 8th. The textile maker reported $0.41 EPS for the quarter, beating 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 period last year, the firm posted $0.25 EPS. The company’s revenue was up 11.3% on a year-over-year basis. On average, equities analysts predict that Interface will post 2.11 EPS for the current fiscal year.

Insider Transactions at Interface

In other news, CFO Bruce Andrew Hausmann sold 50,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,537,132.96. This represents a 29.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David B. Foshee sold 44,393 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $29.00, for a total value of $1,287,397.00. Following the transaction, the vice president directly owned 175,014 shares in the company, valued at approximately $5,075,406. This represents a 20.23% decrease in their position. The SEC filing for this sale provides additional information. 2.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC raised its position in Interface by 180.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock worth $27,000 after buying an additional 631 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Interface by 114.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in Interface in the 2nd quarter valued at approximately $35,000. Wexford Capital LP acquired a new position in Interface during the 3rd quarter worth approximately $43,000. Finally, Blue Trust Inc. increased its position in Interface by 88.3% during the 4th quarter. Blue Trust Inc. now owns 2,199 shares of the textile maker’s stock worth $61,000 after purchasing an additional 1,031 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.