Zacks Research upgraded shares of Interface (NASDAQ:TILE – Free Report) from a hold rating to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.
TILE has been the topic of several other reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Interface in a research report on Wednesday, June 17th. Benchmark assumed coverage on shares of Interface in a report on Tuesday, May 19th. They set a “buy” rating and a $36.00 target price for the company. Barrington Research restated an “outperform” rating and set a $36.00 target price on shares of Interface in a research report on Friday, April 17th. Finally, Wall Street Zen raised shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, Interface presently has a consensus rating of “Buy” and an average price target of $36.00.
View Our Latest Analysis on Interface
Interface Stock Performance
Interface (NASDAQ:TILE – Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The textile maker reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.08. Interface had a return on equity of 20.09% and a net margin of 8.92%.The firm had revenue of $331.04 million during the quarter, compared to analysts’ expectations of $320.38 million. During the same period in the previous year, the firm posted $0.25 earnings per share. Interface’s revenue was up 11.3% on a year-over-year basis. Sell-side analysts expect that Interface will post 2.11 EPS for the current fiscal year.
Interface Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, June 5th. Interface’s payout ratio is 5.61%.
Insiders Place Their Bets
In related news, VP David B. Foshee sold 44,393 shares of Interface stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the completion of the sale, the vice president owned 175,014 shares in the company, valued at approximately $5,075,406. This trade represents a 20.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the business’s stock in a transaction dated 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 directly owned 119,256 shares of the company’s stock, valued at $3,537,132.96. The trade was a 29.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.47% of the company’s stock.
Institutional Investors Weigh In On Interface
Hedge funds have recently modified their holdings of the company. ProShare Advisors LLC raised its position in shares of Interface by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 11,282 shares of the textile maker’s stock valued at $315,000 after buying an additional 349 shares during the last quarter. Larson Financial Group LLC boosted its position in Interface by 30.8% during the fourth quarter. Larson Financial Group LLC now owns 1,538 shares of the textile maker’s stock worth $43,000 after acquiring an additional 362 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in Interface by 0.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 58,483 shares of the textile maker’s stock worth $1,560,000 after acquiring an additional 403 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Interface by 1.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,695 shares of the textile maker’s stock worth $857,000 after acquiring an additional 452 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Interface by 2.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,953 shares of the textile maker’s stock worth $722,000 after acquiring an additional 495 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.
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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