Interface (NASDAQ:TILE) Stock Price Expected to Rise, Barrington Research Analyst Says

Interface (NASDAQ:TILE) had its price target increased by equities research analysts at Barrington Research from $32.00 to $36.00 in a research note issued on Friday, Marketbeat reports. The firm currently has an “outperform” rating on the textile maker’s stock. Barrington Research’s target price points to a potential upside of 15.46% from the stock’s current price.

Other analysts have also issued reports about the stock. Weiss Ratings lowered shares of Interface from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, December 24th. Wall Street Zen lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. Finally, Zacks Research downgraded shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Interface presently has an average rating of “Hold” and a consensus target price of $36.00.

Interface Stock Down 2.1%

Interface stock opened at $31.18 on Friday. The business has a fifty day moving average of $28.49 and a two-hundred day moving average of $26.88. The company has a quick ratio of 1.70, a current ratio of 2.89 and a debt-to-equity ratio of 0.49. The firm has a market cap of $1.82 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.04 and a beta of 1.90. Interface has a twelve month low of $17.24 and a twelve month high of $32.15.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Friday, October 31st. The textile maker reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.15. The business had revenue of $364.53 million for the quarter, compared to the consensus estimate of $358.19 million. Interface had a return on equity of 19.30% and a net margin of 8.27%.The business’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.48 EPS. On average, analysts forecast that Interface will post 1.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Interface

A number of institutional investors and hedge funds have recently modified their holdings of the company. CX Institutional acquired a new position in Interface in the third quarter valued at approximately $9,696,000. SG Capital Management LLC purchased a new position in shares of Interface during the 3rd quarter valued at approximately $8,753,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Interface by 1,114.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 289,261 shares of the textile maker’s stock valued at $8,371,000 after purchasing an additional 265,440 shares in the last quarter. Clark Capital Management Group Inc. lifted its stake in shares of Interface by 67.9% in the 3rd quarter. Clark Capital Management Group Inc. now owns 623,295 shares of the textile maker’s stock valued at $18,038,000 after purchasing an additional 252,157 shares during the period. Finally, Congress Asset Management Co. boosted its holdings in Interface by 9.1% during the second quarter. Congress Asset Management Co. now owns 2,473,541 shares of the textile maker’s stock worth $51,771,000 after buying an additional 206,962 shares in 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.