According to Zacks, “Interface, Inc. is a global manufacturer, marketer, installer and servicer of products for the commercial and institutional interiors market. They are a leader in the modular carpet segment, which includes both carpet tile and two-meter roll goods. They provide specialized carpet replacement, installation and maintenance services through their Re:Source Americas service network. Their specialty products operations produce raised/access flooring systems, antimicrobial additives, adhesives and various other specialty chemical compounds and products. “
A number of other research firms also recently commented on TILE. TheStreet upgraded Interface from a hold rating to a buy rating in a research report on Monday, June 20th. Raymond James Financial Inc. downgraded Interface from a market perform rating to an underperform rating in a research report on Friday, June 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $20.25.
Shares of Interface (NASDAQ:TILE) opened at 16.57 on Thursday. The stock has a market capitalization of $1.07 billion, a P/E ratio of 15.13 and a beta of 1.21. The stock has a 50 day moving average of $17.01 and a 200-day moving average of $16.94. Interface has a 52-week low of $13.70 and a 52-week high of $24.44.
Interface (NASDAQ:TILE) last posted its earnings results on Wednesday, July 27th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The firm earned $248.20 million during the quarter, compared to the consensus estimate of $256.99 million. Interface had a return on equity of 20.70% and a net margin of 7.40%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. Analysts predict that Interface will post $1.15 EPS for the current fiscal year.
In other news, CEO Daniel T. Hendrix sold 3,000 shares of Interface stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $16.00, for a total transaction of $48,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Raymond S. Willoch sold 23,007 shares of Interface stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $17.08, for a total value of $392,959.56. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in TILE. BlackRock Fund Advisors increased its stake in Interface by 1.3% in the second quarter. BlackRock Fund Advisors now owns 4,120,772 shares of the company’s stock valued at $62,842,000 after buying an additional 51,387 shares during the period. Dimensional Fund Advisors LP increased its stake in Interface by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,283,747 shares of the company’s stock valued at $34,827,000 after buying an additional 63,487 shares during the period. Westwood Holdings Group Inc. acquired a new stake in Interface during the second quarter valued at $31,942,000. FMR LLC increased its stake in Interface by 19.3% in the second quarter. FMR LLC now owns 1,957,332 shares of the company’s stock valued at $29,849,000 after buying an additional 317,200 shares during the period. Finally, Schroder Investment Management Group increased its stake in Interface by 5.8% in the second quarter. Schroder Investment Management Group now owns 1,849,967 shares of the company’s stock valued at $28,212,000 after buying an additional 101,900 shares during the period. Institutional investors and hedge funds own 94.00% of the company’s stock.
Interface Inc is engaged in design, production and sales of modular carpet, also known as carpet tile across the world. The Company markets its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company distributes its product through approximately two primary channels, including direct sales to end users and indirect sales through independent contractors or distributors.
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