Interface (NASDAQ:TILE) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen cut shares of Interface (NASDAQ:TILE) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

Other equities analysts have also recently issued reports about the company. Zacks Research cut Interface from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Barrington Research lifted their price objective on Interface from $36.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Weiss Ratings raised shares of Interface from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. Finally, Benchmark initiated coverage on shares of Interface in a report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.50.

Interface Stock Down 2.0%

TILE stock opened at $37.96 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.53 and a quick ratio of 1.35. The company’s 50 day simple moving average is $33.97 and its 200-day simple moving average is $30.71. Interface has a 12 month low of $24.40 and a 12 month high of $40.50. The firm has a market capitalization of $2.20 billion, a PE ratio of 15.37, a P/E/G ratio of 1.07 and a beta of 1.90.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.24. Interface had a return on equity of 21.77% and a net margin of 10.10%.The firm had revenue of $395.70 million during the quarter, compared to the consensus estimate of $391.22 million. During the same period in the previous year, the firm posted $0.60 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that Interface will post 2.36 earnings per share for the current fiscal year.

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were issued a $0.03 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.12 annualized dividend and a yield of 0.3%. Interface’s payout ratio is 4.86%.

Insider Transactions at Interface

In other news, VP David B. Foshee sold 44,393 shares of the business’s stock in a transaction on 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 $5,075,406. The trade was a 20.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the business’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 sale, the chief financial officer directly owned 119,256 shares of the company’s stock, valued at approximately $3,537,132.96. This trade represents a 29.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. CIBC Private Wealth Group LLC grew its stake in Interface by 180.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock worth $27,000 after buying an additional 631 shares during the period. Larson Financial Group LLC raised its stake in shares of Interface by 114.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock valued at $34,000 after acquiring an additional 628 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of Interface in the 2nd quarter valued at $35,000. Allworth Financial LP acquired a new position in shares of Interface during the 2nd quarter valued at $36,000. Finally, Wexford Capital LP acquired a new position in shares of Interface during the 3rd quarter valued at $43,000. Hedge funds and other 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.