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

Interface (NASDAQ:TILE) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Monday.

A number of other analysts also recently weighed in on the company. Barrington Research upped their target price on Interface from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Weiss Ratings cut shares of Interface from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Finally, Zacks Research downgraded shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.00.

Interface Stock Performance

Shares of NASDAQ:TILE opened at $27.47 on Monday. Interface has a 12-month low of $17.24 and a 12-month high of $35.11. The company’s 50 day moving average price is $31.13 and its two-hundred day moving average price is $28.79. The firm has a market cap of $1.59 billion, a PE ratio of 14.02, a PEG ratio of 0.90 and a beta of 1.87. The company has a quick ratio of 1.18, a current ratio of 2.34 and a debt-to-equity ratio of 0.27.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Tuesday, February 24th. The textile maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.09. The company had revenue of $349.39 million during the quarter, compared to the consensus estimate of $350.54 million. Interface had a net margin of 8.37% and a return on equity of 19.54%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 earnings per share. Equities research analysts predict that Interface will post 1.37 earnings per share for the current year.

Insider Transactions at Interface

In other Interface news, VP James Poppens sold 10,000 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $29.42, for a total value of $294,200.00. Following the completion of the transaction, the vice president directly owned 119,496 shares in the company, valued at approximately $3,515,572.32. This trade represents a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 25,650 shares of company stock valued at $736,292. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Interface

Several hedge funds have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. increased its position in Interface by 133.9% in 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 acquiring an additional 1,149,733 shares during the period. UBS Group AG grew its stake in shares of Interface by 413.8% in the fourth quarter. UBS Group AG now owns 499,035 shares of the textile maker’s stock worth $13,933,000 after purchasing an additional 401,912 shares during the last quarter. CX Institutional acquired a new stake in Interface in the third quarter valued at $9,696,000. SG Capital Management LLC bought a new position in Interface during the 3rd quarter worth $8,753,000. Finally, Balyasny Asset Management L.P. lifted its holdings in Interface by 273.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 386,828 shares of the textile maker’s stock worth $10,800,000 after buying an additional 283,152 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.