Interface (NASDAQ:TILE) Cut to Buy at StockNews.com

StockNews.com downgraded shares of Interface (NASDAQ:TILE) from a strong-buy rating to a buy rating in a research report sent to investors on Monday.

Separately, Barrington Research lifted their target price on shares of Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 1st.

Interface Trading Up 2.5 %

Shares of Interface stock opened at $24.73 on Monday. The company’s 50-day moving average price is $18.98 and its 200-day moving average price is $17.01. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.14 and a beta of 1.97. Interface has a 12-month low of $9.04 and a 12-month high of $24.97. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.14. The firm had revenue of $344.30 million for the quarter, compared to analysts’ expectations of $336.39 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. On average, equities analysts expect that Interface will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Friday, August 30th. Interface’s dividend payout ratio (DPR) is presently 2.80%.

Insider Activity

In other news, Director Daniel T. Hendrix sold 3,555 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $17.53, for a total transaction of $62,319.15. Following the transaction, the director now directly owns 191,147 shares of the company’s stock, valued at approximately $3,350,806.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Stansfield Nigel sold 20,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total transaction of $482,400.00. Following the completion of the sale, the vice president now directly owns 144,355 shares in the company, valued at approximately $3,481,842.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel T. Hendrix sold 3,555 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $17.53, for a total value of $62,319.15. Following the transaction, the director now owns 191,147 shares in the company, valued at approximately $3,350,806.91. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,555 shares of company stock valued at $1,479,719. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Interface

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new position in Interface in the 2nd quarter worth $32,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Interface during the 1st quarter worth approximately $57,000. KBC Group NV raised its position in shares of Interface by 70.7% in the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock worth $66,000 after acquiring an additional 1,438 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Interface in the 3rd quarter valued at approximately $70,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Interface by 1,348.0% during the third quarter. Farther Finance Advisors LLC now owns 6,241 shares of the textile maker’s stock valued at $118,000 after purchasing an additional 5,810 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

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.