Interface (NASDAQ:TILE) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Interface (NASDAQ:TILE) from a buy rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings cut Interface from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, October 27th. Zacks Research cut shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. Finally, Barrington Research increased their price objective on shares of Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Interface has a consensus rating of “Moderate Buy” and an average target price of $40.50.

Interface Stock Performance

Interface stock opened at $38.42 on Friday. The company has a quick ratio of 1.35, a current ratio of 2.53 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $2.23 billion, a P/E ratio of 15.03, a PEG ratio of 1.01 and a beta of 1.99. The stock’s 50 day moving average is $35.78 and its 200 day moving average is $32.18. Interface has a twelve month low of $24.40 and a twelve month high of $40.50.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.24. The company had revenue of $395.70 million during the quarter, compared to analyst estimates of $391.22 million. Interface had a return on equity of 21.77% and a net margin of 10.10%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. On average, equities research analysts predict that Interface will post 2.36 earnings per share for the current fiscal year.

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Interface’s dividend payout ratio (DPR) is presently 4.86%.

Insiders Place Their Bets

In other news, CEO Laurel Hurd sold 7,000 shares of the company’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $36.42, for a total transaction of $254,940.00. Following the transaction, the chief executive officer directly owned 492,978 shares of the company’s stock, valued at $17,954,258.76. This represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP David B. Foshee sold 28,451 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $35.99, for a total transaction of $1,023,951.49. Following the sale, the vice president directly owned 146,563 shares in the company, valued at approximately $5,274,802.37. The trade was a 16.26% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 65,621 shares of company stock valued at $2,378,904. Corporate insiders own 2.47% of the company’s stock.

Institutional Trading of Interface

A number of hedge funds have recently bought and sold shares of TILE. BlackRock Inc. purchased a new position in shares of Interface during the 2nd quarter valued at about $338,055,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Interface in the 2nd quarter worth approximately $66,077,000. Reynders McVeigh Capital Management LLC boosted its stake in Interface by 11.4% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 489,736 shares of the textile maker’s stock worth $17,552,000 after purchasing an additional 50,054 shares during the period. Bank of New York Mellon Corp purchased a new stake in Interface during the 2nd quarter valued at approximately $16,508,000. Finally, Renaissance Technologies LLC grew its holdings in Interface by 107.6% during the 1st quarter. Renaissance Technologies LLC now owns 460,156 shares of the textile maker’s stock valued at $11,467,000 after buying an additional 238,515 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

About Interface

Interface, Inc designs and manufactures modular flooring products for commercial, institutional and residential interiors. Its portfolio includes carpet tile, broadloom carpet and resilient flooring, including luxury vinyl tile. The company serves markets such as corporate offices, hospitality, education, healthcare and retail.

Founded in 1973 by Ray Anderson, Interface is headquartered in Atlanta, Georgia, and sells its products through a global network serving customers in North America, Europe and the Asia-Pacific region.