StockNews.com Upgrades Interface (NASDAQ:TILE) to Buy

Interface (NASDAQ:TILE) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

Separately, Barrington Research reissued an “outperform” rating and set a $30.00 target price on shares of Interface in a research note on Tuesday, April 15th.

Interface Price Performance

TILE opened at $18.99 on Monday. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average price is $19.17 and its 200 day moving average price is $22.16. Interface has a fifty-two week low of $14.13 and a fifty-two week high of $27.34. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 0.96 and a beta of 1.93.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.05. The business had revenue of $335.00 million for the quarter, compared to the consensus estimate of $340.51 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. As a group, sell-side analysts expect that Interface will post 1.37 earnings per share for the current year.

Insider Activity

In other news, Director Daniel T. Hendrix sold 12,500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $23.78, for a total value of $297,250.00. Following the completion of the transaction, the director now directly owns 103,647 shares in the company, valued at $2,464,725.66. This trade represents a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Interface

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Interface by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 6,116,464 shares of the textile maker’s stock worth $148,936,000 after buying an additional 246,726 shares in the last quarter. Congress Asset Management Co. acquired a new position in Interface during the first quarter worth about $44,969,000. American Century Companies Inc. lifted its holdings in Interface by 12.3% in the 4th quarter. American Century Companies Inc. now owns 1,992,296 shares of the textile maker’s stock valued at $48,512,000 after acquiring an additional 218,113 shares during the last quarter. Hood River Capital Management LLC bought a new position in shares of Interface during the 4th quarter valued at about $28,897,000. Finally, Prudential Financial Inc. grew its stake in shares of Interface by 25.9% in the 4th quarter. Prudential Financial Inc. now owns 676,030 shares of the textile maker’s stock worth $16,461,000 after purchasing an additional 139,150 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.