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

Zacks Research upgraded shares of Interface (NASDAQ:TILE) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Benchmark began coverage on shares of Interface in a report on Tuesday, May 19th. They set a “buy” rating and a $36.00 target price for the company. Barrington Research boosted their price target on shares of 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, August 12th. Finally, Wall Street Zen lowered Interface from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $40.50.

Interface Stock Performance

Shares of NASDAQ:TILE opened at $37.89 on Wednesday. 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 business’s 50 day moving average price is $35.28 and its 200-day moving average price is $31.10. The firm has a market capitalization of $2.20 billion, a PE ratio of 15.34, a P/E/G ratio of 1.09 and a beta of 1.90. Interface has a 1 year low of $24.40 and a 1 year high of $40.50.

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

Interface Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, September 4th. Interface’s dividend payout ratio is presently 4.86%.

Insider Transactions at Interface

In other Interface news, CEO Laurel Hurd sold 7,000 shares of Interface stock in a transaction on Monday, August 24th. The stock was sold at an average price of $39.09, for a total value of $273,630.00. Following the sale, the chief executive officer owned 506,978 shares in the company, valued at $19,817,770.02. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.47% of the stock is currently owned by company insiders.

Institutional Trading of Interface

A number of hedge funds and other institutional investors have recently modified their holdings of TILE. CIBC Private Wealth Group LLC increased its position in shares of Interface by 180.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 631 shares during the last quarter. Larson Financial Group LLC lifted its holdings 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 worth $34,000 after acquiring an additional 628 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Interface during the 2nd quarter worth approximately $35,000. Allworth Financial LP purchased a new position in shares of Interface during the 2nd quarter worth approximately $36,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Interface in the 2nd quarter valued at approximately $39,000. 98.34% of the stock is 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.