Interface (NASDAQ:TILE) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Interface (NASDAQ:TILE) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Separately, Barrington Research reiterated an “outperform” rating and set a $30.00 target price on shares of Interface in a research note on Friday, May 2nd.

Interface Stock Up 1.3 %

Interface stock opened at $20.70 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. The stock has a market cap of $1.21 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 0.96 and a beta of 1.95. Interface has a fifty-two week low of $14.13 and a fifty-two week high of $27.34. The firm’s 50-day simple moving average is $19.12 and its 200 day simple moving average is $22.17.

Interface (NASDAQ:TILE) last released its earnings results on Friday, May 2nd. The textile maker reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. The company had revenue of $297.41 million during the quarter, compared to analyst estimates of $297.11 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. Interface’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. Research analysts predict that Interface will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, March 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. Interface’s payout ratio is currently 2.76%.

Insider Activity at Interface

In other Interface news, Director Daniel T. Hendrix sold 7,500 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $19.95, for a total value of $149,625.00. Following the completion of the sale, the director now directly owns 96,147 shares of the company’s stock, valued at $1,918,132.65. This trade represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Interface during the fourth quarter valued at about $2,498,000. Amundi raised its position in shares of Interface by 202.0% in the fourth quarter. Amundi now owns 34,408 shares of the textile maker’s stock valued at $804,000 after purchasing an additional 23,013 shares during the period. Jennison Associates LLC lifted its stake in shares of Interface by 103.2% during the 4th quarter. Jennison Associates LLC now owns 65,494 shares of the textile maker’s stock valued at $1,595,000 after buying an additional 33,264 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Interface in the 4th quarter worth approximately $479,000. Finally, Vanguard Group Inc. grew its stake in Interface by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 6,116,464 shares of the textile maker’s stock valued at $148,936,000 after buying an additional 246,726 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

About Interface

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.