Interface (TILE) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Interface (NASDAQ:TILE) from a sell rating to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.

According to Zacks, “Interface, Inc. is the world’s largest manufacturer of modular carpet, which it markets under the Interface and FLOR brands. The Company is committed to the goal of sustainability and doing business in ways that minimize the impact on the environment while enhancing shareholder value. Interface is the world’s largest manufacturer of modular carpet. Their heritage began with the invention of the first carpet tile approximately 50 years ago by a Dutch company called Heuga, now part of InterfaceFLOR. From that spark of invention, they have continued to innovate, giving the award-winning modular carpet design, pioneering environmental practices and ground-breaking manufacturing technology. Their products are designed for a wide range of commercial environments including corporate, healthcare, education, retail, hospitality and government. We continue to lead the industry in environmental achievement and the exploration of environmentally efficient products and processes. “

A number of other analysts also recently commented on TILE. BidaskClub raised shares of Interface from a hold rating to a buy rating in a report on Wednesday, February 20th. Nomura decreased their price objective on shares of Interface from $26.00 to $24.00 and set a buy rating on the stock in a report on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Interface has a consensus rating of Hold and an average price target of $25.00.

Shares of NASDAQ:TILE opened at $16.93 on Thursday. The stock has a market capitalization of $1.01 billion, a PE ratio of 11.36 and a beta of 1.57. The company has a current ratio of 2.50, a quick ratio of 1.34 and a debt-to-equity ratio of 1.66. Interface has a fifty-two week low of $13.45 and a fifty-two week high of $26.10.

Interface (NASDAQ:TILE) last issued its earnings results on Tuesday, February 19th. The textile maker reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The business had revenue of $337.06 million for the quarter, compared to the consensus estimate of $344.65 million. Interface had a net margin of 4.26% and a return on equity of 25.66%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, equities analysts predict that Interface will post 1.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Thursday, March 7th. Interface’s dividend payout ratio is currently 17.45%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Martingale Asset Management L P raised its stake in shares of Interface by 45.3% in the third quarter. Martingale Asset Management L P now owns 237,579 shares of the textile maker’s stock valued at $5,548,000 after buying an additional 74,103 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Interface in the third quarter valued at $1,303,000. MetLife Investment Advisors LLC raised its stake in shares of Interface by 58.1% in the third quarter. MetLife Investment Advisors LLC now owns 42,809 shares of the textile maker’s stock valued at $1,000,000 after buying an additional 15,738 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Interface by 6.0% in the third quarter. Thrivent Financial for Lutherans now owns 533,467 shares of the textile maker’s stock valued at $12,456,000 after buying an additional 30,100 shares during the period. Finally, Macquarie Group Ltd. raised its stake in shares of Interface by 12.7% in the third quarter. Macquarie Group Ltd. now owns 88,325 shares of the textile maker’s stock valued at $2,063,000 after buying an additional 9,955 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Interface Company Profile

Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brands; and luxury vinyl tile products.

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