Interface (NASDAQ:TILE) Rating Lowered to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Interface from “strong buy” to “buy,” while the broader analyst consensus remains “Moderate Buy” with a $40.50 price target.
• Interface reported quarterly EPS of $0.88, beating estimates of $0.64, while revenue reached $395.7 million and increased 5.4% year over year.
• The stock opened at $37.96, near its 12-month high of $40.50; institutional investors own 98.34% of shares, while two company executives recently sold significant portions of their holdings.

Interface (NASDAQ:TILE - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

A number of other analysts have also recently issued reports on TILE. Weiss Ratings raised Interface from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday. Benchmark started coverage on Interface in a research report on Tuesday, May 19th. They set a "buy" rating and a $36.00 price target on the stock. Zacks Research lowered Interface from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 28th. Finally, Barrington Research boosted their price objective on Interface from $36.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.50.

Interface Price Performance

Shares of NASDAQ:TILE opened at $37.96 on Friday. Interface has a 12 month low of $24.40 and a 12 month high of $40.50. The firm has a market capitalization of $2.20 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.09 and a beta of 1.90. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.53 and a quick ratio of 1.35. The company's fifty day moving average price is $33.97 and its 200 day moving average price is $30.71.

Interface (NASDAQ:TILE - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.24. The company had revenue of $395.70 million during the quarter, compared to the consensus estimate of $391.22 million. Interface had a net margin of 10.10% and a return on equity of 21.77%. Interface's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, sell-side analysts predict that Interface will post 2.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Bruce Andrew Hausmann sold 50,000 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the transaction, the chief financial officer owned 119,256 shares of the company's stock, valued at $3,537,132.96. This represents a 29.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP David B. Foshee sold 44,393 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the completion of the transaction, the vice president owned 175,014 shares of the company's stock, valued at $5,075,406. This represents a 20.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.47% of the company's stock.

Institutional Trading of Interface

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Westover Capital Advisors LLC purchased a new position in shares of Interface during the fourth quarter valued at approximately $1,744,000. Northwestern Mutual Wealth Management Co. grew its stake in Interface by 2,333.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker's stock worth $7,845,000 after acquiring an additional 269,439 shares during the period. Edgestream Partners L.P. purchased a new stake in Interface in the 1st quarter worth approximately $3,257,000. AlphaQuest LLC raised its holdings in Interface by 304.9% in the 4th quarter. AlphaQuest LLC now owns 50,080 shares of the textile maker's stock valued at $1,398,000 after acquiring an additional 37,712 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Interface by 195.0% in the 1st quarter. Janus Henderson Group PLC now owns 75,021 shares of the textile maker's stock valued at $1,869,000 after acquiring an additional 49,590 shares during the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

About Interface

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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