Interface (TILE) Moves 5.3% Higher: Will This Strength Last?

Interface (TILE) shares rallied 5.3% in the last trading session to close at $32.56. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 7.6% gain over the past four weeks. This commercial flooring company is likely to have gained on the back of notable macro enhancements, creating a favorable backdrop hereon. The interim United States-Iran peace agreement is likely to have been one of the factors for the growth, as it would now help ease oil price hikes and inflation, aiding TILE’s trade concerns. Besides, the reduction of mortgage rates to 6.47% from 6.52% as of the week ending on June 18, per Freddie Mac, and the stable stance of the Fed on keeping the rates between 3.5% and 3.75% for now, supported the momentum to some extent, which reverberated through investors positively.This carpet tile company is expected to post quarterly earnings of $0.63 per share in its upcoming report, which represents a year-over-year change of +5%. Revenues are expected to be $390 million, up 3.9% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Interface, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TILE going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Interface is a member of the Zacks Textile - Home Furnishing industry. One other stock in the same industry, Mohawk Industries (MHK), finished the last trading session 3.9% higher at $112.3. MHK has returned 7.6% over the past month.Mohawk Industries' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.57. Compared to the company's year-ago EPS, this represents a change of -7.2%. Mohawk Industries currently boasts a Zacks Rank of #4 (Sell).Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks