Market Overview

Interface Downgraded By Raymond James On Brexit Risks


Raymond James downgraded Interface, Inc. (NASDAQ: TILE) to Underperform from Market Perform on Friday, as Britain voted to leave the EU.

Analysts started to worry about incremental competitive threats in the US and apparently overly-optimistic consensus expectations. Moreover, the Brexit poses additional risks to international demand for the company's highly discretionary products in the region, which will potentially drive share prices down.

"Our call is not just Brexit-related, however, as intensified domestic competition is also concerning. As detailed in our NEOCON brief, we find Mohawk and Shaw becoming increasingly aggressive at opening and mid-price points (largely "Main Street"), perhaps spurred by relative cost benefits given their advantages of being vertically integrated regarding fiber extrusion," analysts said in the note.

Raymond James kept its 2016 and 2017 adjusted EPS estimates steady at $1.00 and $1.18, respectively.

The stock traded down 10 percent at $15.47

Latest Ratings for TILE

Oct 2019DowngradesBuyNeutral
Jan 2019MaintainsBuyBuy
Aug 2018UpgradesNeutralBuy

View More Analyst Ratings for TILE
View the Latest Analyst Ratings

Posted-In: Raymond JamesAnalyst Color Downgrades Analyst Ratings


Related Articles (TILE)

View Comments and Join the Discussion!

Latest Ratings

TOLGoldman SachsInitiates Coverage On42.0
KBHGoldman SachsInitiates Coverage On36.0
YEXTSunTrust Robinson HumphreyMaintains28.0
LHCGSunTrust Robinson HumphreyMaintains160.0
DLRSunTrust Robinson HumphreyMaintains140.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

15 Biggest Mid-Day Losers For Friday

SciQuest Cut To Market Perform By Raymond James