Interface (NASDAQ:TILE – Get Free Report) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.
A number of other research analysts have also recently commented on TILE. Wall Street Zen cut Interface from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Barrington Research increased their target price on Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Benchmark started coverage on Interface in a report on Tuesday, May 19th. They set a “buy” rating and a $36.00 target price on the stock. Finally, Weiss Ratings raised Interface from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $40.50.
Check Out Our Latest Report on TILE
Interface Price Performance
Interface (NASDAQ:TILE – Get Free Report) last posted its earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.24. Interface had a net margin of 10.10% and a return on equity of 21.77%. The business had revenue of $395.70 million for the quarter, compared to analyst estimates of $391.22 million. During the same quarter in the previous year, the business posted $0.60 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts predict that Interface will post 2.36 EPS for the current year.
Insider Activity
In related news, CEO Laurel Hurd sold 7,000 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $39.09, for a total value of $273,630.00. Following the sale, the chief executive officer directly owned 506,978 shares of the company’s stock, valued at $19,817,770.02. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.47% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Westover Capital Advisors LLC bought a new stake in shares of Interface in the 4th quarter worth about $1,744,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Interface by 2,333.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker’s stock worth $7,845,000 after purchasing an additional 269,439 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of Interface during the first quarter worth about $3,257,000. Virtus Advisers LLC acquired a new position in Interface in the second quarter worth about $1,489,000. Finally, Aurora Investment Counsel acquired a new position in Interface in the second quarter worth about $3,043,000. 98.34% of the stock is owned by institutional investors and hedge funds.
Interface Company Profile
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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