SG Capital Management LLC Invests $8.75 Million in Interface, Inc. $TILE

SG Capital Management LLC purchased a new stake in shares of Interface, Inc. (NASDAQ:TILE) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 302,440 shares of the textile maker’s stock, valued at approximately $8,753,000.

Other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its position in shares of Interface by 2,695.2% during the 2nd quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker’s stock valued at $25,000 after buying an additional 1,132 shares during the last quarter. TD Private Client Wealth LLC bought a new position in shares of Interface during the third quarter valued at approximately $32,000. Blue Trust Inc. acquired a new stake in shares of Interface during the 3rd quarter worth approximately $34,000. EverSource Wealth Advisors LLC bought a new position in Interface during the 2nd quarter worth $35,000. Finally, Richardson Financial Services Inc. grew its stake in Interface by 166.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,569 shares of the textile maker’s stock worth $45,000 after buying an additional 980 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Interface Trading Down 0.1%

Shares of NASDAQ TILE opened at $33.53 on Thursday. The company has a quick ratio of 1.70, a current ratio of 2.89 and a debt-to-equity ratio of 0.49. Interface, Inc. has a 12 month low of $17.24 and a 12 month high of $35.11. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 1.12 and a beta of 1.90. The business has a fifty day simple moving average of $30.60 and a 200-day simple moving average of $28.36.

Wall Street Analyst Weigh In

TILE has been the topic of a number of analyst reports. Weiss Ratings cut shares of Interface from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, December 24th. Wall Street Zen downgraded Interface from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 16th. Zacks Research cut Interface from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Barrington Research lifted their price objective on shares of Interface from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.00.

Interface Company Profile

Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.