Interface (NASDAQ:TILE – Get Free Report) had its price target upped by equities researchers at Barrington Research from $36.00 to $45.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the textile maker’s stock. Barrington Research’s price target suggests a potential upside of 17.52% from the stock’s current price.
Several other research firms also recently issued reports on TILE. Wall Street Zen upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Zacks Research cut shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Interface in a research note on Wednesday, June 17th. Finally, Benchmark began coverage on shares of Interface in a report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.50.
Check Out Our Latest Research Report on Interface
Interface Price Performance
Interface (NASDAQ:TILE – Get Free Report) last announced its earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.24. Interface had a return on equity of 21.77% and a net margin of 10.10%.The company had revenue of $395.70 million for the quarter, compared to analyst estimates of $391.22 million. During the same period in the prior year, the company posted $0.60 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts forecast that Interface will post 2.11 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CFO Bruce Andrew Hausmann sold 50,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the completion of the transaction, the chief financial officer owned 119,256 shares of the company’s stock, valued at $3,537,132.96. This trade represents a 29.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David B. Foshee sold 44,393 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the transaction, the vice president owned 175,014 shares of the company’s stock, valued at $5,075,406. This represents a 20.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.47% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Interface
Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in Interface by 8.4% during the first quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker’s stock worth $390,000 after acquiring an additional 1,522 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Interface by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker’s stock valued at $677,000 after acquiring an additional 1,485 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Interface by 5.9% in the first quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock valued at $14,854,000 after acquiring an additional 42,011 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Interface by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker’s stock worth $3,015,000 after purchasing an additional 9,580 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Interface by 24.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 201,630 shares of the textile maker’s stock worth $4,220,000 after purchasing an additional 39,941 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.
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.
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