Interface (NASDAQ:TILE – Get Free Report) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.
Separately, Barrington Research restated an “outperform” rating and set a $30.00 price target on shares of Interface in a research note on Tuesday, January 28th.
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Interface Stock Performance
Insiders Place Their Bets
In other Interface news, VP David B. Foshee sold 15,175 shares of Interface stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $26.27, for a total transaction of $398,647.25. Following the sale, the vice president now directly owns 202,398 shares of the company’s stock, valued at approximately $5,316,995.46. The trade was a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel T. Hendrix sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total value of $301,250.00. Following the completion of the sale, the director now owns 116,147 shares in the company, valued at approximately $2,799,142.70. This represents a 9.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,175 shares of company stock worth $1,471,087 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in TILE. Venturi Wealth Management LLC grew its holdings in shares of Interface by 204.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock worth $27,000 after purchasing an additional 750 shares during the last quarter. Huntington National Bank bought a new stake in Interface during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC increased its holdings in shares of Interface by 78.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock worth $30,000 after buying an additional 546 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of Interface by 103.1% during the fourth quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock worth $36,000 after buying an additional 741 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Interface by 499.5% in the third quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock valued at $47,000 after acquiring an additional 2,063 shares during the last quarter. 98.34% of the stock is owned by institutional investors.
Interface Company Profile
Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.
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