ValuEngine Lowers Interface (TILE) to Hold

Interface (NASDAQ:TILE) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.

TILE has been the topic of several other reports. BidaskClub cut Interface from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Zacks Investment Research downgraded Interface from a “buy” rating to a “hold” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $26.33.

Shares of TILE opened at $22.80 on Friday. The company has a market cap of $1,489.36, a PE ratio of 19.32 and a beta of 1.20. Interface has a 1 year low of $18.30 and a 1 year high of $26.25. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.43 and a current ratio of 2.44.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Wednesday, April 25th. The textile maker reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The business had revenue of $241.00 million for the quarter, compared to analysts’ expectations of $234.96 million. Interface had a return on equity of 22.08% and a net margin of 5.34%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 EPS. equities analysts forecast that Interface will post 1.42 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB bought a new position in shares of Interface during the 4th quarter valued at approximately $210,000. Wolverine Trading LLC bought a new position in shares of Interface during the 4th quarter valued at approximately $218,000. Amalgamated Bank bought a new position in shares of Interface during the 4th quarter valued at approximately $219,000. Two Sigma Securities LLC bought a new position in shares of Interface during the 4th quarter valued at approximately $240,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Interface during the 4th quarter valued at approximately $249,000. 95.77% of the stock is currently owned by hedge funds and other institutional investors.

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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