Zacks Research Upgrades Interface (NASDAQ:TILE) to Strong-Buy

Interface (NASDAQ:TILE) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Benchmark assumed coverage on shares of Interface in a report on Tuesday, May 19th. They set a “buy” rating and a $36.00 target price on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Interface in a report on Wednesday, June 17th. Barrington Research reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Interface in a research report on Friday, April 17th. Finally, Wall Street Zen upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $36.00.

Interface Stock Up 0.4%

Shares of NASDAQ:TILE opened at $35.84 on Monday. The business’s 50 day moving average is $29.97 and its 200 day moving average is $29.48. The stock has a market cap of $2.08 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 1.13 and a beta of 1.91. Interface has a 52-week low of $20.37 and a 52-week high of $36.05. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.30.

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

Insider Activity

In other Interface news, VP David B. Foshee sold 44,393 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the completion of the sale, the vice president directly owned 175,014 shares of the company’s stock, valued at approximately $5,075,406. This represents a 20.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the completion of the sale, the chief financial officer owned 119,256 shares in the company, valued at $3,537,132.96. This represents a 29.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.47% of the stock is owned by insiders.

Institutional Investors Weigh In On Interface

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Edgestream Partners L.P. acquired a new stake in Interface in the first quarter valued at approximately $3,257,000. Janus Henderson Group PLC increased its position in shares of Interface by 195.0% during the first quarter. Janus Henderson Group PLC now owns 75,021 shares of the textile maker’s stock worth $1,869,000 after purchasing an additional 49,590 shares in the last quarter. Amundi increased its position in shares of Interface by 18.4% during the first quarter. Amundi now owns 9,225 shares of the textile maker’s stock worth $230,000 after purchasing an additional 1,435 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Interface by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,472 shares of the textile maker’s stock valued at $62,000 after purchasing an additional 934 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Interface by 31.1% during the 1st quarter. Quantinno Capital Management LP now owns 30,754 shares of the textile maker’s stock valued at $766,000 after purchasing an additional 7,292 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Company Profile

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.