Aurora Investment Counsel Takes $3.04 Million Position in Interface, Inc. $TILE

Key Points

• Aurora Investment Counsel purchased 84,917 shares of Interface, valued at approximately $3.04 million, making the stock its third-largest holding and representing about 1.6% of its portfolio.
• Institutional ownership remains high at 98.34%, with several major investors—including JPMorgan, Goldman Sachs and UBS—raising their stakes during the first or second quarter.
• Interface reported quarterly EPS of $0.88, beating estimates of $0.64, while revenue rose 5.4% year over year to $395.7 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $40.50.

Aurora Investment Counsel bought a new position in Interface, Inc. (NASDAQ:TILE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 84,917 shares of the textile maker's stock, valued at approximately $3,043,000. Interface makes up about 1.6% of Aurora Investment Counsel's holdings, making the stock its 3rd largest holding. Aurora Investment Counsel owned about 0.15% of Interface at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TILE. Royal Bank of Canada boosted its stake in shares of Interface by 8.4% in the 1st quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker's stock valued at $390,000 after purchasing an additional 1,522 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Interface by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker's stock worth $677,000 after purchasing an additional 1,485 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Interface by 5.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker's stock valued at $14,854,000 after purchasing an additional 42,011 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Interface by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker's stock valued at $3,015,000 after purchasing an additional 9,580 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Interface by 24.7% in the second quarter. JPMorgan Chase & Co. now owns 201,630 shares of the textile maker's stock valued at $4,220,000 after buying an additional 39,941 shares in the last quarter. Institutional investors own 98.34% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TILE shares. Weiss Ratings raised shares of Interface from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 12th. Benchmark began coverage on Interface in a report on Tuesday, May 19th. They issued a "buy" rating and a $36.00 target price on the stock. Barrington Research increased their price target on Interface from $36.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Zacks Research cut Interface from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. Finally, Wall Street Zen downgraded Interface from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Interface has an average rating of "Moderate Buy" and a consensus price target of $40.50.

Interface Stock Up 2.1%

NASDAQ TILE opened at $39.32 on Thursday. The stock has a market capitalization of $2.28 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 1.09 and a beta of 1.90. Interface, Inc. has a 52 week low of $24.40 and a 52 week high of $40.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.35 and a current ratio of 2.53. The stock has a fifty day moving average of $34.44 and a 200-day moving average of $30.86.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.24. The firm had revenue of $395.70 million during the quarter, compared to analyst estimates of $391.22 million. Interface had a return on equity of 21.77% and a net margin of 10.10%.The company's revenue was up 5.4% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. On average, equities research analysts forecast that Interface, Inc. will post 2.36 EPS for the current year.

Insider Buying and Selling at Interface

In related news, CFO Bruce Andrew Hausmann sold 50,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total value of $1,483,000.00. Following the transaction, the chief financial officer directly owned 119,256 shares in the company, valued at $3,537,132.96. This represents a 29.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.47% of the stock is currently owned by company insiders.

Interface Profile

Interface, Inc NASDAQ: TILE is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface's portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.

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