Raymond James Downgrades Interface to Underperform

Brokerage firm Raymond James Downgrades its rating on Interface(NASDAQ:TILE). The shares have been rated Underperform. Previously, the analysts had a Market Perform rating on the shares. The rating by Raymond James was issued on Jun 24, 2016.

In a different note, On May 5, 2016, Longbow Research said it Downgrades its rating on Interface. The shares have been rated ‘Neutral’ by the firm. On Apr 27, 2016, Stifel Nicolaus said it Downgrades its rating on Interface. The shares have been rated ‘Hold’ by the firm. On Apr 7, 2016, Barclays said it Downgrades its rating on Interface. The shares have been rated ‘Underweight’ by the firm.

Interface (TILE) made into the market gainers list on Wednesdays trading session with the shares advancing 2.32% or 0.34 points. Due to strong positive momentum, the stock ended at $15.01, which is also near the day’s high of $15.01. The stock began the session at $14.87 and the volume stood at 11,13,770 shares. The 52-week high of the shares is $27.17 and the 52 week low is $13.7. The company has a current market capitalization of $983 M and it has 6,54,72,473 shares in outstanding.

Interface(TILE) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $222.55M. Analysts had an estimated revenue of $224.94M. Earnings per share were $0.20. Analysts had estimated an EPS of $0.20.

Several Insider Transactions has been reported to the SEC. On Jun 8, 2016, Daniel T Hendrix (Chairman & CEO) sold 3,000 shares at $17.10 per share price.Also, On Apr 5, 2016, Patrick C Lynch (Sr. Vice President & CFO) sold 1,500 shares at $18.22 per share price.On Mar 21, 2016, Raymond S Willoch (Sr. Vice President) sold 15,000 shares at $17.15 per share price, according to the Form-4 filing with the securities and exchange commission.

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’s revenues are derived from sales of floorcovering products primarily modular carpet. The Company distributes its product through two primary channels: direct sales to end users and indirect sales through independent contractors or distributors. The Company sells an antimicrobial chemical compound under the trademark Intersept that the Company incorporates in all of its modular carpet products. The Company manufactures carpet at two locations in the United States and at facilities in the Netherlands the United Kingdom Thailand China and Australia. The Company’s principal geographic markets are the Americas Europe and Asia-Pacific.

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