Interface (NASDAQ:TILE) Price Target Raised to $45.00

Interface (NASDAQ:TILE) had its price objective raised by Barrington Research from $36.00 to $45.00 in a report released on Monday, MarketBeat Ratings reports. Barrington Research currently has an outperform rating on the textile maker’s stock.

A number of other research analysts also recently issued reports on the company. Wall Street Zen upgraded Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Interface in a research note on Wednesday, June 17th. Zacks Research downgraded Interface from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Benchmark assumed coverage on shares of Interface in a research note on Tuesday, May 19th. They set a “buy” rating and a $36.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Interface currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Interface Price Performance

Shares of NASDAQ TILE opened at $38.53 on Monday. The company has a fifty day moving average price of $33.63 and a 200 day moving average price of $30.61. The firm has a market cap of $2.24 billion, a PE ratio of 15.60, a PEG ratio of 1.09 and a beta of 1.90. The company has a current ratio of 2.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.29. Interface has a 1-year low of $24.40 and a 1-year high of $40.50.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.24. The firm had revenue of $395.70 million for the quarter, compared to the consensus estimate of $391.22 million. Interface had a return on equity of 21.77% and a net margin of 10.10%.The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. Research analysts predict that Interface will post 2.36 earnings per share for the current fiscal year.

Interface Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Friday, June 5th. Interface’s dividend payout ratio is currently 4.86%.

Insider Activity

In related news, CFO Bruce Andrew Hausmann sold 50,000 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the completion of the transaction, the chief financial officer directly owned 119,256 shares of the company’s stock, valued at approximately $3,537,132.96. This represents a 29.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David B. Foshee sold 44,393 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $29.00, for a total value of $1,287,397.00. Following the completion of the sale, the vice president directly owned 175,014 shares of the company’s stock, valued at approximately $5,075,406. The trade was a 20.23% decrease in their position. The SEC filing for this sale provides additional information. 2.47% of the stock is owned by company insiders.

Institutional Trading of Interface

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Interface during the second quarter worth about $338,055,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Interface during the 2nd quarter worth approximately $66,077,000. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Interface by 133.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker’s stock worth $56,071,000 after acquiring an additional 1,149,733 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Interface during the 2nd quarter valued at $16,508,000. Finally, UBS Group AG lifted its holdings in Interface by 413.8% during the 4th quarter. UBS Group AG now owns 499,035 shares of the textile maker’s stock valued at $13,933,000 after purchasing an additional 401,912 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

About Interface

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.