Barrington Research Issues Positive Forecast for Interface (NASDAQ:TILE) Stock Price

Interface (NASDAQ:TILE) had its target price boosted by Barrington Research from $26.00 to $30.00 in a report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the textile maker’s stock.

Separately, StockNews.com downgraded Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th.

Interface Trading Down 0.8 %

TILE opened at $26.13 on Wednesday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.29 and a beta of 2.09. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. Interface has a 12 month low of $11.48 and a 12 month high of $27.34. The stock has a fifty day moving average price of $22.83 and a 200-day moving average price of $18.82.

Interface (NASDAQ:TILE) last announced its earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.14. Interface had a return on equity of 19.91% and a net margin of 6.49%. The firm had revenue of $344.30 million for the quarter, compared to the consensus estimate of $336.39 million. During the same period in the previous year, the business earned $0.28 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts anticipate that Interface will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.15%. Interface’s payout ratio is 2.80%.

Insider Buying and Selling at Interface

In other news, VP Stansfield Nigel sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total value of $482,400.00. Following the completion of the sale, the vice president now directly owns 144,355 shares in the company, valued at $3,481,842.60. This represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel T. Hendrix sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $26.33, for a total value of $473,940.00. Following the completion of the sale, the director now owns 153,147 shares of the company’s stock, valued at $4,032,360.51. This trade represents a 10.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,175 shares of company stock valued at $2,119,987 over the last quarter. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TILE. Hennessy Advisors Inc. purchased a new position in Interface in the second quarter worth approximately $7,430,000. American Century Companies Inc. boosted 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 worth $22,951,000 after buying an additional 285,353 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Interface by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock worth $39,507,000 after buying an additional 247,350 shares during the period. Foundry Partners LLC purchased a new position in shares of Interface during the third quarter worth $4,308,000. Finally, Barclays PLC boosted its position in shares of Interface by 688.5% during the third quarter. Barclays PLC now owns 256,987 shares of the textile maker’s stock worth $4,873,000 after buying an additional 224,395 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Interface Company Profile

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.