Interface (TILE) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Interface (NASDAQ:TILE) from a buy rating to a sell rating in a research report sent to investors on Wednesday, December 27th.

According to Zacks, “Interface, Inc. is the world’s largest manufacturer of modular carpet, which it markets under the Interface and FLOR brands. The Company is committed to the goal of sustainability and doing business in ways that minimize the impact on the environment while enhancing shareholder value. Interface is the world’s largest manufacturer of modular carpet. Their heritage began with the invention of the first carpet tile approximately 50 years ago by a Dutch company called Heuga, now part of InterfaceFLOR. From that spark of invention, they have continued to innovate, giving the award-winning modular carpet design, pioneering environmental practices and ground-breaking manufacturing technology. Their products are designed for a wide range of commercial environments including corporate, healthcare, education, retail, hospitality and government. We continue to lead the industry in environmental achievement and the exploration of environmentally efficient products and processes. “

A number of other research firms have also recently commented on TILE. BidaskClub cut shares of Interface from a buy rating to a hold rating in a research report on Thursday, December 14th. Stifel Nicolaus restated a hold rating and issued a $23.00 price target on shares of Interface in a research note on Thursday, October 26th. Finally, Nomura lifted their price target on shares of Interface from $24.00 to $28.00 and gave the stock a buy rating in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Interface currently has an average rating of Hold and an average target price of $25.67.

Interface (NASDAQ TILE) opened at $25.40 on Wednesday. Interface has a 12-month low of $17.17 and a 12-month high of $25.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.51. The company has a market cap of $1,520.00, a price-to-earnings ratio of 29.53 and a beta of 1.35.

Interface (NASDAQ:TILE) last posted its earnings results on Wednesday, October 25th. The textile maker reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Interface had a net margin of 5.53% and a return on equity of 21.39%. The business had revenue of $257.43 million for the quarter, compared to analysts’ expectations of $255.63 million. During the same period in the previous year, the company posted $0.25 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. research analysts anticipate that Interface will post 1.15 EPS for the current year.

In related news, Director Daniel T. Hendrix sold 6,000 shares of Interface stock in a transaction on Monday, October 16th. The shares were sold at an average price of $21.79, for a total value of $130,740.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Zions Bancorporation bought a new stake in shares of Interface in the third quarter worth $118,000. KBC Group NV bought a new stake in Interface during the second quarter valued at $133,000. Victory Capital Management Inc. increased its stake in Interface by 17.6% during the second quarter. Victory Capital Management Inc. now owns 7,846 shares of the textile maker’s stock valued at $154,000 after purchasing an additional 1,175 shares during the last quarter. Verition Fund Management LLC bought a new stake in Interface during the second quarter valued at $224,000. Finally, SG Americas Securities LLC bought a new stake in Interface during the third quarter valued at $247,000. Institutional investors and hedge funds own 92.28% of the company’s stock.

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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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