Interface (TILE) Raised to Buy at BidaskClub

Interface (NASDAQ:TILE) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Saturday, December 30th.

A number of other research firms have also commented on TILE. Zacks Investment Research upgraded shares of Interface from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Saturday, October 28th. Stifel Nicolaus reiterated a “hold” rating and set a $23.00 target price on shares of Interface in a research report on Thursday, October 26th. Finally, Nomura lifted their target price on shares of Interface from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $25.67.

Interface (NASDAQ:TILE) opened at $25.60 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.51 and a quick ratio of 1.40. Interface has a 12 month low of $17.17 and a 12 month high of $26.10. The firm has a market cap of $1,550.00, a PE ratio of 29.77 and a beta of 1.35.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Wednesday, October 25th. The textile maker reported $0.32 EPS for the quarter, beating 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 company had revenue of $257.43 million during the quarter, compared to analyst estimates of $255.63 million. During the same period last year, the business earned $0.25 earnings per share. Interface’s revenue was up 3.7% compared to the same quarter last year. equities research analysts expect that Interface will post 1.15 EPS for the current fiscal year.

In other Interface news, Director Daniel T. Hendrix sold 27,000 shares of Interface stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $22.95, for a total transaction of $619,650.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of TILE. Schwab Charles Investment Management Inc. increased its stake in shares of Interface by 3.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 430,386 shares of the textile maker’s stock worth $8,458,000 after buying an additional 16,228 shares during the period. State Street Corp increased its stake in shares of Interface by 3.1% in the second quarter. State Street Corp now owns 1,580,198 shares of the textile maker’s stock worth $31,057,000 after buying an additional 46,986 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Interface by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 2,112,169 shares of the textile maker’s stock worth $41,504,000 after buying an additional 36,699 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Interface by 19.9% in the second quarter. Parametric Portfolio Associates LLC now owns 89,748 shares of the textile maker’s stock worth $1,764,000 after buying an additional 14,866 shares during the period. Finally, OxFORD Asset Management LLP purchased a new position in shares of Interface in the second quarter worth $601,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

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About Interface

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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