Interface (NASDAQ:TILE) Rating Increased to Strong-Buy at Zacks Research

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

A number of other research firms also recently weighed in on TILE. Weiss Ratings restated a “buy (b-)” rating on shares of Interface in a report on Wednesday, June 17th. Wall Street Zen raised Interface from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Barrington Research reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Interface in a research note on Friday, April 17th. Finally, Benchmark began coverage on Interface in a report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $36.00.

Interface Stock Performance

NASDAQ TILE opened at $35.84 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 2.43. Interface has a fifty-two week low of $20.37 and a fifty-two week high of $36.05. The stock has a market cap of $2.08 billion, a PE ratio of 16.75, a PEG ratio of 1.13 and a beta of 1.91. The firm’s fifty day moving average price is $29.97 and its two-hundred day moving average price is $29.48.

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

Insider Transactions at Interface

In other 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 transaction, the vice president owned 175,014 shares of the company’s stock, valued at $5,075,406. This represents a 20.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $1,483,000.00. Following the completion of the sale, the chief financial officer owned 119,256 shares of the company’s stock, valued at approximately $3,537,132.96. This represents a 29.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Interface

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Interface by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,689,857 shares of the textile maker’s stock worth $75,105,000 after purchasing an additional 36,530 shares during the period. Congress Asset Management Co. grew its position in Interface by 3.3% in the 4th quarter. Congress Asset Management Co. now owns 2,629,174 shares of the textile maker’s stock valued at $73,407,000 after purchasing an additional 84,793 shares during the period. American Century Companies Inc. grew its position in Interface by 5.5% in the 3rd quarter. American Century Companies Inc. now owns 2,412,549 shares of the textile maker’s stock valued at $69,819,000 after purchasing an additional 126,263 shares during the period. State Street Corp increased its stake in Interface by 0.7% during the 4th quarter. State Street Corp now owns 2,192,472 shares of the textile maker’s stock valued at $61,214,000 after purchasing an additional 14,764 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in Interface by 133.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker’s stock valued at $56,071,000 after purchasing an additional 1,149,733 shares in the last quarter. Institutional investors 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.