Interface (NASDAQ:TILE) Raised to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Interface (NASDAQ:TILE) from a buy rating to a strong-buy rating in a research note published on Tuesday morning.

Separately, Barrington Research reiterated an outperform rating and issued a $22.00 target price on shares of Interface in a research report on Friday, August 2nd.

Interface Stock Performance

Shares of NASDAQ TILE opened at $16.47 on Tuesday. Interface has a 1 year low of $8.26 and a 1 year high of $18.47. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.30 and a current ratio of 2.72. The company’s fifty day moving average price is $15.59 and its 200 day moving average price is $15.23. The company has a market capitalization of $959.26 million, a PE ratio of 16.30, a price-to-earnings-growth ratio of 0.93 and a beta of 2.00.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, August 2nd. The textile maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.12. Interface had a return on equity of 16.94% and a net margin of 4.73%. The business had revenue of $346.60 million during the quarter, compared to analysts’ expectations of $340.21 million. During the same period in the previous year, the business earned $0.25 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. On average, research analysts predict that Interface will post 1.18 earnings per share for the current year.

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.01 per share. The ex-dividend date was Friday, May 31st. This represents a $0.04 annualized dividend and a yield of 0.24%. Interface’s dividend payout ratio (DPR) is presently 3.96%.

Insider Activity

In related news, Director Daniel T. Hendrix sold 12,500 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $15.05, for a total transaction of $188,125.00. Following the transaction, the director now directly owns 258,647 shares in the company, valued at $3,892,637.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $15.05, for a total value of $188,125.00. Following the completion of the sale, the director now directly owns 258,647 shares in the company, valued at approximately $3,892,637.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel T. Hendrix sold 3,403 shares of Interface stock in a transaction on Monday, August 5th. The stock was sold at an average price of $15.99, for a total value of $54,413.97. Following the transaction, the director now owns 200,147 shares in the company, valued at approximately $3,200,350.53. The disclosure for this sale can be found here. Insiders sold 62,303 shares of company stock worth $994,710 over the last three months. Insiders own 2.60% of the company’s stock.

Institutional Trading of Interface

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hennessy Advisors Inc. acquired a new position in shares of Interface in the 2nd quarter valued at $7,430,000. American Century Companies Inc. increased its position in shares of Interface by 22.3% during the second quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock valued at $22,951,000 after acquiring an additional 285,353 shares during the last quarter. Gendell Jeffrey L raised its stake in shares of Interface by 1,041.8% in the 1st quarter. Gendell Jeffrey L now owns 250,363 shares of the textile maker’s stock valued at $4,211,000 after acquiring an additional 228,435 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Interface by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,275,194 shares of the textile maker’s stock worth $28,714,000 after purchasing an additional 165,536 shares during the period. Finally, Access Investment Management LLC acquired a new stake in Interface in the 4th quarter valued at approximately $2,024,000. Institutional investors and hedge funds 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.