Interface (NASDAQ:TILE) Coverage Initiated at Benchmark

Benchmark began coverage on shares of Interface (NASDAQ:TILE) in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $36.00 price target on the textile maker’s stock. Benchmark’s price objective points to a potential upside of 26.23% from the stock’s previous close.

Several other equities research analysts have also weighed in on TILE. Weiss Ratings upgraded shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 20th. Barrington Research reaffirmed an “outperform” rating and set a $36.00 target price on shares of Interface in a report on Friday, April 17th. Finally, Wall Street Zen raised shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Interface Stock Performance

Interface stock opened at $28.52 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.43 and a quick ratio of 1.16. Interface has a 12 month low of $18.74 and a 12 month high of $35.11. The company has a fifty day moving average price of $27.01 and a two-hundred day moving average price of $28.51. The company has a market cap of $1.65 billion, a PE ratio of 13.33, a P/E/G ratio of 0.89 and a beta of 1.92.

Interface (NASDAQ:TILE) last issued its earnings results 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 net margin of 8.92% and a return on equity of 20.09%. The company had revenue of $331.04 million for the quarter, compared to analysts’ expectations of $320.38 million. During the same period in the prior year, the company earned $0.25 earnings per share. The firm’s revenue was up 11.3% compared to the same quarter last year. Research analysts expect that Interface will post 2.11 earnings per share for the current year.

Insiders Place Their Bets

In other Interface news, VP James Poppens sold 8,000 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $28.05, for a total transaction of $224,400.00. Following the completion of the transaction, the vice president owned 103,846 shares in the company, valued at approximately $2,912,880.30. The trade was a 7.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 25,650 shares of company stock worth $736,292. 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 modified their holdings of the stock. CIBC Private Wealth Group LLC lifted its holdings in Interface by 180.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock worth $27,000 after purchasing an additional 631 shares during the period. TD Private Client Wealth LLC acquired a new position in Interface during the 3rd quarter valued at about $32,000. Larson Financial Group LLC increased its stake in Interface by 114.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock valued at $34,000 after buying an additional 628 shares during the period. Wexford Capital LP bought a new stake in shares of Interface during the 3rd quarter worth about $43,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Interface during the 2nd quarter worth about $35,000. 98.34% of the stock is currently owned by institutional investors.

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.