Zacks Investment Research upgraded shares of Interface (NASDAQ:TILE) from a sell rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “Interface, Inc. is the world’s largest manufacturer of modular carpet, which it markets under the Interface and FLOR brands. The Company is committed to the goal of sustainability and doing business in ways that minimize the impact on the environment while enhancing shareholder value. Interface is the world’s largest manufacturer of modular carpet. Their heritage began with the invention of the first carpet tile approximately 50 years ago by a Dutch company called Heuga, now part of InterfaceFLOR. From that spark of invention, they have continued to innovate, giving the award-winning modular carpet design, pioneering environmental practices and ground-breaking manufacturing technology. Their products are designed for a wide range of commercial environments including corporate, healthcare, education, retail, hospitality and government. We continue to lead the industry in environmental achievement and the exploration of environmentally efficient products and processes. “
Other research analysts have also issued research reports about the stock. BidaskClub lowered shares of Interface from a hold rating to a sell rating in a research note on Tuesday. Nomura set a $26.00 price target on shares of Interface and gave the stock a buy rating in a research report on Monday, December 17th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $25.00.
Interface (NASDAQ:TILE) last announced its earnings results on Tuesday, February 19th. The textile maker reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The company had revenue of $337.06 million during the quarter, compared to analyst estimates of $344.65 million. Interface had a net margin of 4.26% and a return on equity of 25.66%. Interface’s revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. Equities research analysts anticipate that Interface will post 1.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be given a dividend of $0.065 per share. The ex-dividend date is Thursday, March 7th. This represents a $0.26 annualized dividend and a dividend yield of 1.60%. Interface’s dividend payout ratio is presently 17.45%.
Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc lifted its position in shares of Interface by 2.0% during the third quarter. Vanguard Group Inc now owns 5,981,953 shares of the textile maker’s stock worth $139,679,000 after purchasing an additional 115,036 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Interface by 7.2% during the third quarter. Legal & General Group Plc now owns 139,152 shares of the textile maker’s stock worth $3,244,000 after purchasing an additional 9,301 shares in the last quarter. Ceredex Value Advisors LLC lifted its position in shares of Interface by 1,346.9% during the fourth quarter. Ceredex Value Advisors LLC now owns 644,746 shares of the textile maker’s stock worth $9,188,000 after purchasing an additional 600,184 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Interface during the third quarter worth about $1,793,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Interface during the third quarter worth about $1,303,000. 94.51% of the stock is currently owned by institutional investors and hedge funds.
Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; and luxury vinyl tile products.
Further Reading: How are institutional investors different from individual investors?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Interface Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Interface and related companies with MarketBeat.com's FREE daily email newsletter.