Interface (TILE) Downgraded to Sell at BidaskClub

BidaskClub downgraded shares of Interface (NASDAQ:TILE) from a hold rating to a sell rating in a report published on Saturday.

Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Interface from a hold rating to a strong-buy rating and set a $26.00 price objective for the company in a research report on Friday, August 10th. Longbow Research raised shares of Interface from a neutral rating to a buy rating and set a $30.00 price objective for the company in a research report on Tuesday, August 14th. They noted that the move was a valuation call. ValuEngine cut shares of Interface from a hold rating to a sell rating in a research report on Friday, October 12th. Macquarie set a $20.00 price objective on shares of Interface and gave the stock a hold rating in a research report on Friday. Finally, TheStreet cut shares of Interface from a b rating to a c+ rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $25.33.

TILE stock traded down $1.61 during midday trading on Friday, hitting $16.51. The company’s stock had a trading volume of 848,331 shares, compared to its average volume of 338,669. The company has a quick ratio of 1.46, a current ratio of 2.57 and a debt-to-equity ratio of 1.76. Interface has a 52-week low of $16.45 and a 52-week high of $26.25. The stock has a market capitalization of $982.25 million, a PE ratio of 11.79 and a beta of 1.12.



Interface (NASDAQ:TILE) last issued its quarterly earnings results on Wednesday, October 24th. The textile maker reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. Interface had a net margin of 4.35% and a return on equity of 24.69%. The company had revenue of $318.33 million during the quarter, compared to analysts’ expectations of $316.38 million. During the same quarter last year, the company posted $0.32 EPS. Analysts expect that Interface will post 1.47 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Friday, November 9th will be given a dividend of $0.065 per share. The ex-dividend date is Thursday, November 8th. This represents a $0.26 annualized dividend and a dividend yield of 1.57%. Interface’s dividend payout ratio (DPR) is currently 22.03%.

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in shares of Interface by 203.4% during the 2nd quarter. SG Americas Securities LLC now owns 19,434 shares of the textile maker’s stock worth $446,000 after purchasing an additional 13,028 shares during the last quarter. BlackRock Inc. lifted its position in shares of Interface by 7.2% during the 2nd quarter. BlackRock Inc. now owns 9,237,013 shares of the textile maker’s stock worth $211,990,000 after purchasing an additional 619,945 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Interface by 924.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 30,789 shares of the textile maker’s stock valued at $707,000 after acquiring an additional 27,783 shares during the last quarter. RE Advisers Corp lifted its position in Interface by 160.7% in the second quarter. RE Advisers Corp now owns 81,119 shares of the textile maker’s stock valued at $1,862,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Interface by 76.1% in the second quarter. Renaissance Technologies LLC now owns 326,300 shares of the textile maker’s stock valued at $7,489,000 after acquiring an additional 140,960 shares during the last quarter. 92.36% of the stock is owned by institutional investors and hedge funds.

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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