Comerica Bank Raises Position in Interface, Inc. (TILE)
Comerica Bank increased its stake in shares of Interface, Inc. (NASDAQ:TILE) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 306,348 shares of the textile maker’s stock after acquiring an additional 7,929 shares during the quarter. Comerica Bank’s holdings in Interface were worth $7,751,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Zions Bancorporation purchased a new stake in Interface during the third quarter valued at $118,000. Verition Fund Management LLC purchased a new stake in Interface during the second quarter valued at $224,000. Victory Capital Management Inc. raised its stake in Interface by 42.2% during the third quarter. Victory Capital Management Inc. now owns 11,158 shares of the textile maker’s stock valued at $244,000 after purchasing an additional 3,312 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Interface during the third quarter valued at $247,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in Interface during the second quarter valued at $249,000. Hedge funds and other institutional investors own 92.03% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. BidaskClub downgraded shares of Interface from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. ValuEngine raised shares of Interface from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded shares of Interface from a “buy” rating to a “sell” rating in a research note on Wednesday, December 27th. Nomura upped their price target on shares of Interface from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $23.00 price target on shares of Interface in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.67.
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Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.
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