Interface (NASDAQ:TILE) Stock Dropped to “Hold” by Wall Street Zen

Interface (NASDAQ:TILE) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

TILE has been the subject of several other reports. Weiss Ratings downgraded shares of Interface from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday. Zacks Research cut shares of Interface from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Finally, Barrington Research increased their target price on Interface from $36.00 to $45.00 and gave the stock 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 given a Hold rating to the company. According to MarketBeat.com, Interface currently has a consensus rating of “Moderate Buy” and an average target price of $40.50.

Interface Trading Down 0.2%

Shares of TILE opened at $36.81 on Friday. The business has a 50-day moving average of $35.79 and a 200 day moving average of $32.14. Interface has a fifty-two week low of $24.40 and a fifty-two week high of $40.50. The firm has a market cap of $2.14 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 1.04 and a beta of 1.99. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.35 and a current ratio of 2.53.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 EPS for the quarter, beating the consensus estimate of $0.64 by $0.24. The business had revenue of $395.70 million for the quarter, compared to the consensus estimate of $391.22 million. Interface had a net margin of 10.10% and a return on equity of 21.77%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. As a group, research analysts forecast that Interface will post 2.36 EPS for the current year.

Insider Buying and Selling

In other Interface news, Director Daniel T. Hendrix sold 4,000 shares of the firm’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $35.39, for a total value of $141,560.00. Following the completion of the transaction, the director directly owned 80,147 shares of the company’s stock, valued at $2,836,402.33. This trade represents a 4.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David B. Foshee sold 28,451 shares of the firm’s stock in a transaction on 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 completion of the transaction, the vice president directly owned 146,563 shares of the company’s stock, valued at approximately $5,274,802.37. The trade was a 16.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 65,621 shares of company stock valued at $2,378,904. Company insiders own 2.47% of the company’s stock.

Institutional Investors Weigh In On Interface

A number of institutional investors and hedge funds have recently made changes to their positions in TILE. State of Wyoming purchased a new stake in Interface during the 3rd quarter valued at $137,000. Signaturefd LLC raised its stake in shares of Interface by 10.3% in the third quarter. Signaturefd LLC now owns 5,947 shares of the textile maker’s stock worth $205,000 after purchasing an additional 556 shares during the last quarter. Simplicity Wealth LLC bought a new position in shares of Interface during the third quarter valued at $325,000. Vest Financial LLC bought a new position in shares of Interface during the third quarter valued at $1,793,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Interface by 43.4% during the third quarter. Nisa Investment Advisors LLC now owns 3,859 shares of the textile maker’s stock valued at $133,000 after purchasing an additional 1,168 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.