Interface (NASDAQ:TILE) Receives “Outperform” Rating from Barrington Research

Interface (NASDAQ:TILE)‘s stock had its “outperform” rating reiterated by equities research analysts at Barrington Research in a report issued on Tuesday,Benzinga reports. They currently have a $30.00 price objective on the textile maker’s stock. Barrington Research’s target price suggests a potential upside of 58.98% from the company’s current price.

Separately, StockNews.com raised shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Monday.

Interface Stock Down 11.5 %

TILE traded down $2.44 on Tuesday, hitting $18.87. The company had a trading volume of 1,513,521 shares, compared to its average volume of 449,274. The firm has a market capitalization of $1.10 billion, a P/E ratio of 13.20, a P/E/G ratio of 0.96 and a beta of 2.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The stock has a fifty day simple moving average of $23.84 and a 200-day simple moving average of $21.91. Interface has a 52-week low of $13.15 and a 52-week high of $27.34.

Interface (NASDAQ:TILE) last issued its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company had revenue of $335.00 million during the quarter, compared to analysts’ expectations of $340.51 million. During the same period last year, the company posted $0.41 EPS. Interface’s revenue was up 3.0% on a year-over-year basis. As a group, equities analysts expect that Interface will post 1.37 EPS for the current fiscal year.

Insider Activity

In related news, Director Daniel T. Hendrix sold 12,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $23.78, for a total value of $297,250.00. Following the transaction, the director now directly owns 103,647 shares of the company’s stock, valued at approximately $2,464,725.66. This trade represents a 10.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David B. Foshee sold 15,175 shares of Interface stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total transaction of $398,647.25. Following the transaction, the vice president now directly owns 202,398 shares in the company, valued at $5,316,995.46. This represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,175 shares of company stock valued at $1,471,087 in the last ninety days. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Interface

A number of hedge funds have recently made changes to their positions in the company. Creative Planning lifted its position in Interface by 24.7% during the third quarter. Creative Planning now owns 22,720 shares of the textile maker’s stock valued at $431,000 after purchasing an additional 4,496 shares during the last quarter. Private Advisor Group LLC purchased a new stake in shares of Interface in the third quarter valued at approximately $790,000. New York State Teachers Retirement System lifted its holdings in shares of Interface by 1.6% in the 3rd quarter. New York State Teachers Retirement System now owns 115,339 shares of the textile maker’s stock worth $2,188,000 after buying an additional 1,767 shares during the period. Farther Finance Advisors LLC lifted its stake in Interface by 1,348.0% in the third quarter. Farther Finance Advisors LLC now owns 6,241 shares of the textile maker’s stock worth $118,000 after acquiring an additional 5,810 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Interface by 5.8% during the third quarter. Principal Financial Group Inc. now owns 304,050 shares of the textile maker’s stock valued at $5,768,000 after purchasing an additional 16,624 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other 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.