Interface (NASDAQ:TILE) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Interface (NASDAQ:TILE) from a buy rating to a strong-buy rating in a report issued on Saturday morning.

Several other brokerages have also issued reports on TILE. Barrington Research reiterated an “outperform” rating and issued a $36.00 target price on shares of Interface in a research report on Friday, April 17th. Weiss Ratings upgraded shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 20th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Interface currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Interface Stock Down 1.7%

TILE opened at $28.05 on Friday. The company has a fifty day moving average price of $27.00 and a 200-day moving average price of $28.50. The firm has a market capitalization of $1.63 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 0.89 and a beta of 1.92. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.43 and a quick ratio of 1.16. Interface has a one year low of $18.74 and a one year high of $35.11.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, May 8th. The textile maker reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. The firm had revenue of $331.04 million during the quarter, compared to analyst estimates of $320.38 million. Interface had a net margin of 8.92% and a return on equity of 20.09%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. Equities research analysts expect that Interface will post 2.11 earnings per share for the current fiscal year.

Interface Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Friday, March 27th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. This is a positive change from Interface’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Friday, March 27th. Interface’s payout ratio is currently 5.61%.

Insider Activity at Interface

In other news, VP James Poppens sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $29.42, for a total transaction of $294,200.00. Following the completion of the transaction, the vice president directly owned 119,496 shares of the company’s stock, valued at approximately $3,515,572.32. This represents a 7.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 25,650 shares of company stock worth $736,292 over the last ninety days. Corporate insiders own 2.47% of the company’s stock.

Hedge Funds Weigh In On Interface

Several hedge funds and other institutional investors have recently modified their holdings of the company. ProShare Advisors LLC raised its stake in Interface by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 11,282 shares of the textile maker’s stock worth $315,000 after buying an additional 349 shares in the last quarter. Larson Financial Group LLC raised its stake in Interface by 30.8% in the fourth quarter. Larson Financial Group LLC now owns 1,538 shares of the textile maker’s stock worth $43,000 after buying an additional 362 shares in the last quarter. CWM LLC raised its stake in Interface by 15.1% in the third quarter. CWM LLC now owns 2,857 shares of the textile maker’s stock worth $83,000 after buying an additional 375 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Interface by 0.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 58,483 shares of the textile maker’s stock worth $1,560,000 after buying an additional 403 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Interface by 1.5% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,695 shares of the textile maker’s stock worth $857,000 after buying an additional 452 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

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.