Interface (TILE) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Interface (NASDAQ:TILE) from a sell rating to a hold rating in a report released on Thursday morning.

Several other equities analysts also recently issued reports on the stock. BidaskClub upgraded shares of Interface from a sell rating to a hold rating in a report on Friday, September 28th. Longbow Research upgraded shares of Interface from a neutral rating to a buy rating and set a $30.00 price objective on the stock in a report on Tuesday, August 14th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Interface from a hold rating to a strong-buy rating and set a $26.00 price objective on the stock in a report on Friday, August 10th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $26.75.

Shares of TILE traded down $0.23 during mid-day trading on Thursday, hitting $19.60. 3,438 shares of the company traded hands, compared to its average volume of 316,312. Interface has a 1-year low of $18.74 and a 1-year high of $26.25. The company has a quick ratio of 1.46, a current ratio of 2.57 and a debt-to-equity ratio of 0.67. The company has a market cap of $1.23 billion, a P/E ratio of 16.84 and a beta of 1.12.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Wednesday, July 25th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. Interface had a net margin of 5.67% and a return on equity of 23.63%. The firm had revenue of $283.60 million for the quarter, compared to the consensus estimate of $274.94 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, research analysts anticipate that Interface will post 1.47 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of TILE. Hsbc Holdings PLC acquired a new position in Interface in the 1st quarter worth approximately $403,000. Profund Advisors LLC increased its holdings in Interface by 27.9% in the 1st quarter. Profund Advisors LLC now owns 11,896 shares of the textile maker’s stock worth $300,000 after buying an additional 2,592 shares during the period. A.R.T. Advisors LLC increased its holdings in Interface by 35.6% in the 1st quarter. A.R.T. Advisors LLC now owns 57,559 shares of the textile maker’s stock worth $1,450,000 after buying an additional 15,105 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Interface by 32.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 310,954 shares of the textile maker’s stock worth $7,836,000 after buying an additional 75,744 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Interface in the 1st quarter worth approximately $718,000. Institutional investors own 90.81% of the company’s stock.

About Interface

Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; and luxury vinyl tile products.

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