Interface, Inc. (TILE) Downgraded to Strong Sell at BidaskClub

Interface, Inc. (NASDAQ:TILE) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Tuesday, July 25th.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus lifted their price objective on shares of Interface from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Nomura assumed coverage on shares of Interface in a research note on Wednesday, April 12th. They set a “buy” rating and a $22.00 price target for the company. ValuEngine raised shares of Interface from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Zacks Investment Research cut shares of Interface from a “hold” rating to a “sell” rating in a research note on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.00.

Interface (NASDAQ:TILE) traded up 0.54% during mid-day trading on Tuesday, reaching $18.75. 431,170 shares of the company’s stock traded hands. The stock has a market capitalization of $1.18 billion, a PE ratio of 24.13 and a beta of 1.20. The stock has a 50-day moving average price of $19.15 and a 200-day moving average price of $19.11. Interface has a 12-month low of $14.59 and a 12-month high of $21.05.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Wednesday, July 26th. The textile maker reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Interface had a net margin of 5.21% and a return on equity of 19.66%. The business had revenue of $251.70 million during the quarter, compared to analysts’ expectations of $254.94 million. During the same period last year, the company posted $0.32 EPS. The business’s revenue was up 1.4% on a year-over-year basis. Equities research analysts expect that Interface will post $1.14 EPS for the current year.

Interface declared that its board has approved a share repurchase program on Wednesday, April 26th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the textile maker to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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In related news, Director Daniel T. Hendrix sold 6,000 shares of Interface stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $18.95, for a total transaction of $113,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert Coombs sold 12,000 shares of Interface stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $20.40, for a total transaction of $244,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,000 shares of company stock valued at $681,940. 1.90% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in TILE. State Street Corp raised its stake in shares of Interface by 5.7% in the fourth quarter. State Street Corp now owns 1,454,181 shares of the textile maker’s stock worth $26,977,000 after buying an additional 78,567 shares during the last quarter. Norges Bank bought a new stake in shares of Interface during the fourth quarter worth $15,890,000. Teachers Advisors LLC raised its stake in shares of Interface by 6.8% in the fourth quarter. Teachers Advisors LLC now owns 112,029 shares of the textile maker’s stock worth $2,078,000 after buying an additional 7,173 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Interface by 38.9% in the first quarter. Bank of Montreal Can now owns 155,822 shares of the textile maker’s stock worth $2,968,000 after buying an additional 43,673 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Interface during the first quarter valued at approximately $246,000. Institutional investors own 92.23% of the company’s stock.

Interface Company Profile

Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.

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