Interface (NASDAQ:TILE) Rating Reiterated by Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Interface (NASDAQ:TILE) in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a $22.00 price target on the textile maker’s stock.

Separately, StockNews.com lowered Interface from a strong-buy rating to a buy rating in a research note on Monday, July 29th.

Interface Stock Performance

TILE opened at $16.77 on Friday. The firm has a market cap of $976.74 million, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 0.93 and a beta of 2.00. Interface has a 52-week low of $8.26 and a 52-week high of $18.47. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.30 and a current ratio of 2.72. The business’s fifty day moving average is $15.53 and its 200-day moving average is $15.15.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Friday, August 2nd. The textile maker reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.12. The business had revenue of $346.60 million for the quarter, compared to analyst estimates of $340.21 million. Interface had a return on equity of 16.94% and a net margin of 4.73%. Interface’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. Sell-side analysts expect that Interface will post 1.18 EPS for the current fiscal year.

Interface Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Friday, May 31st. Interface’s payout ratio is 3.96%.

Insider Activity

In other news, Director Daniel T. Hendrix sold 2,153 shares of Interface stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $14.67, for a total transaction of $31,584.51. Following the sale, the director now directly owns 246,147 shares of the company’s stock, valued at $3,610,976.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Daniel T. Hendrix sold 2,153 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $14.67, for a total transaction of $31,584.51. Following the completion of the transaction, the director now directly owns 246,147 shares in the company, valued at $3,610,976.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel T. Hendrix sold 17,300 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $17.05, for a total value of $294,965.00. Following the transaction, the director now owns 213,647 shares of the company’s stock, valued at $3,642,681.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,900 shares of company stock valued at $940,296. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Interface

Hedge funds have recently made changes to their positions in the stock. First Eagle Investment Management LLC bought a new position in shares of Interface during the first quarter worth about $2,027,000. State Board of Administration of Florida Retirement System raised its position in shares of Interface by 182.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 130,020 shares of the textile maker’s stock worth $2,187,000 after acquiring an additional 83,932 shares during the last quarter. Access Investment Management LLC bought a new position in shares of Interface during the fourth quarter worth about $2,024,000. Inspire Investing LLC bought a new position in shares of Interface during the first quarter worth about $859,000. Finally, Federated Hermes Inc. bought a new stake in Interface in the fourth quarter worth approximately $1,187,000. 98.34% of the stock is currently owned by institutional investors.

About Interface

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.