Interface (TILE) Downgraded to Sell at Zacks Investment Research

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Interface (NASDAQ:TILE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Interface, Inc. is the world’s largest manufacturer of modular carpet, which it markets under the Interface and FLOR brands. The Company is committed to the goal of sustainability and doing business in ways that minimize the impact on the environment while enhancing shareholder value. Interface is the world’s largest manufacturer of modular carpet. Their heritage began with the invention of the first carpet tile approximately 50 years ago by a Dutch company called Heuga, now part of InterfaceFLOR. From that spark of invention, they have continued to innovate, giving the award-winning modular carpet design, pioneering environmental practices and ground-breaking manufacturing technology. Their products are designed for a wide range of commercial environments including corporate, healthcare, education, retail, hospitality and government. We continue to lead the industry in environmental achievement and the exploration of environmentally efficient products and processes. “

A number of other equities analysts have also recently commented on TILE. BidaskClub cut shares of Interface from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 27th. Nomura lowered their price objective on shares of Interface from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, January 7th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $25.00.

Shares of Interface stock traded down $1.36 during trading hours on Thursday, reaching $15.73. The company’s stock had a trading volume of 18,163 shares, compared to its average volume of 219,118. Interface has a one year low of $13.45 and a one year high of $26.05. The company has a quick ratio of 1.34, a current ratio of 2.50 and a debt-to-equity ratio of 1.66. The company has a market cap of $1.01 billion, a PE ratio of 10.56 and a beta of 1.57.

Interface (NASDAQ:TILE) last posted its earnings results on Wednesday, April 24th. The textile maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Interface had a net margin of 4.26% and a return on equity of 25.66%. The firm had revenue of $298.00 million for the quarter, compared to the consensus estimate of $300.16 million. During the same period in the previous year, the firm posted $0.25 EPS. The business’s quarterly revenue was up 23.7% on a year-over-year basis. As a group, sell-side analysts expect that Interface will post 1.64 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Interface in the 4th quarter worth approximately $19,838,000. Ceredex Value Advisors LLC lifted its position in shares of Interface by 1,346.9% in the 4th quarter. Ceredex Value Advisors LLC now owns 644,746 shares of the textile maker’s stock worth $9,188,000 after purchasing an additional 600,184 shares during the period. Frontier Capital Management Co. LLC lifted its position in shares of Interface by 18.9% in the 4th quarter. Frontier Capital Management Co. LLC now owns 3,667,500 shares of the textile maker’s stock worth $52,262,000 after purchasing an additional 583,296 shares during the period. FMR LLC raised its stake in shares of Interface by 15.8% during the 4th quarter. FMR LLC now owns 2,788,403 shares of the textile maker’s stock worth $39,735,000 after acquiring an additional 379,771 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Interface by 141.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 565,513 shares of the textile maker’s stock worth $8,059,000 after acquiring an additional 331,598 shares in the last quarter. 96.86% of the stock is owned by 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; rubber flooring under the norament and noraplan brands; and luxury vinyl tile products.

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