Interface (NASDAQ:TILE) Stock Moved Down to Hold by Wall Street Zen

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

Several other equities analysts have also recently weighed in on TILE. Barrington Research increased their price target on Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Zacks Research lowered Interface from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Finally, Weiss Ratings cut Interface from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Interface presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Interface Stock Down 0.2%

TILE opened at $36.81 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 firm has a 50 day moving average price of $35.79 and a 200-day moving average price of $32.14. Interface has a twelve month low of $24.40 and a twelve month high of $40.50. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.04 and a beta of 1.99.

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

Insider Transactions at Interface

In other news, CEO Laurel Hurd sold 7,000 shares of Interface stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $39.09, for a total transaction of $273,630.00. Following the transaction, the chief executive officer directly owned 506,978 shares of the company’s stock, valued at $19,817,770.02. The trade was a 1.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel Hendrix sold 8,000 shares of Interface stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $37.13, for a total value of $297,040.00. Following the transaction, the director directly owned 88,147 shares in the company, valued at approximately $3,272,898.11. The trade was a 8.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 65,621 shares of company stock valued at $2,378,904 over the last quarter. 2.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Interface

Hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC increased its stake in Interface by 39.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,271 shares of the textile maker’s stock valued at $44,000 after buying an additional 357 shares during the period. HB Wealth Management LLC lifted its position in Interface by 1.0% in the 2nd quarter. HB Wealth Management LLC now owns 40,804 shares of the textile maker’s stock worth $1,462,000 after buying an additional 418 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Interface by 10.3% during the 3rd quarter. Signaturefd LLC now owns 5,947 shares of the textile maker’s stock valued at $205,000 after buying an additional 556 shares during the period. Hillsdale Investment Management Inc. boosted its stake in shares of Interface by 0.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 309,013 shares of the textile maker’s stock valued at $7,701,000 after buying an additional 800 shares during the period. Finally, Arjuna Capital grew its holdings in shares of Interface by 4.1% during the 1st quarter. Arjuna Capital now owns 23,577 shares of the textile maker’s stock valued at $588,000 after acquiring an additional 927 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors.

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.