Interface Inc. (NASDAQ:TILE) Given Average Recommendation of “Hold” by Brokerages
Interface Inc. (NASDAQ:TILE) has received a consensus rating of “Hold” from the seven brokerages that are presently covering the firm. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $21.00.
Several brokerages recently weighed in on TILE. Zacks Investment Research raised shares of Interface from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Raymond James Financial Inc. cut shares of Interface from a “market perform” rating to an “underperform” rating in a research note on Friday, June 24th. Finally, TheStreet raised shares of Interface from a “hold” rating to a “buy” rating in a research report on Monday, June 20th.
Interface (NASDAQ:TILE) traded down 0.445% during mid-day trading on Monday, hitting $16.775. The company had a trading volume of 145,137 shares. The company’s 50 day moving average price is $17.01 and its 200-day moving average price is $16.93. The firm has a market capitalization of $1.09 billion, a PE ratio of 15.320 and a beta of 1.21. Interface has a 12-month low of $13.70 and a 12-month high of $24.44.
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Interface (NASDAQ:TILE) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.03. Interface had a net margin of 7.40% and a return on equity of 20.70%. The company had revenue of $248.20 million for the quarter, compared to analysts’ expectations of $256.99 million. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Interface’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, analysts forecast that Interface will post $1.15 EPS for the current fiscal year.
In other Interface news, CEO Daniel T. Hendrix sold 3,000 shares of the company’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $16.00, for a total transaction of $48,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Patrick C. Lynch sold 4,500 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $18.00, for a total transaction of $81,000.00. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Aperio Group LLC boosted its position in Interface by 29.3% in the first quarter. Aperio Group LLC now owns 31,763 shares of the company’s stock worth $589,000 after buying an additional 7,193 shares during the period. Pacad Investment Ltd. boosted its position in Interface by 8.5% in the first quarter. Pacad Investment Ltd. now owns 12,806 shares of the company’s stock worth $237,000 after buying an additional 1,006 shares during the period. TIAA CREF Investment Management LLC boosted its position in Interface by 0.4% in the first quarter. TIAA CREF Investment Management LLC now owns 354,202 shares of the company’s stock worth $6,567,000 after buying an additional 1,274 shares during the period. JPMorgan Chase & Co. boosted its position in Interface by 188.2% in the first quarter. JPMorgan Chase & Co. now owns 324,203 shares of the company’s stock worth $6,011,000 after buying an additional 211,699 shares during the period. Finally, Royce & Associates LP boosted its position in Interface by 8.0% in the first quarter. Royce & Associates LP now owns 998,804 shares of the company’s stock worth $18,518,000 after buying an additional 74,200 shares during the period. 94.00% of the stock is currently owned by institutional investors.
Interface Inc is engaged in design, production and sales of modular carpet, also known as carpet tile across the world. The Company markets its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company distributes its product through approximately two primary channels, including direct sales to end users and indirect sales through independent contractors or distributors.
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