New York—Investment website Seeking Alpha has strongly endorsed carpet tile maker Interface and set a price target of $26. The stock closed at $18.84 on Wednesday, Sept. 11. The website noted the trend toward carpet tile, in both the commercial and residential markets and said that Interface is in the best position to take advantage of the shift.
Seeking Alpha also noted that Interface has recently broken even in its retail operation, now with 20 stores across the country. It also cited Interface’s diversified revenue base, which includes North America, Europe, Australia, and Asia, reduces risk from any one region.
Interface is also diversifying its revenue anyway from the office segment by expanding into retail, education, healthcare, government, and hospitality segments, Seeking Alpha said.