StockNews.com Downgrades Interface (NASDAQ:TILE) to Buy

StockNews.com downgraded shares of Interface (NASDAQ:TILE) from a strong-buy rating to a buy rating in a research note released on Monday morning.

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

Interface Price Performance

TILE opened at $24.50 on Monday. 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. The business’s fifty day simple moving average is $19.09 and its 200-day simple moving average is $17.06. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.14 and a beta of 1.97.

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

Interface Announces Dividend

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

Insider Buying and Selling

In related news, Director Daniel T. Hendrix sold 3,555 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $17.53, for a total transaction of $62,319.15. Following the completion of the sale, the director now directly owns 191,147 shares in the company, valued at $3,350,806.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Interface news, CFO Bruce Andrew Hausmann sold 55,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $17.00, for a total value of $935,000.00. Following the completion of the sale, the chief financial officer now directly owns 198,475 shares in the company, valued at approximately $3,374,075. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel T. Hendrix sold 3,555 shares of the 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 completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders sold 78,555 shares of company stock worth $1,479,719 in the last three months. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Interface

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TILE. Hennessy Advisors Inc. purchased a new stake in Interface in the second quarter valued at about $7,430,000. American Century Companies Inc. raised its stake in Interface by 22.3% in the second quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock valued at $22,951,000 after buying an additional 285,353 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Interface by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock valued at $39,507,000 after buying an additional 247,350 shares during the last quarter. Gendell Jeffrey L raised its stake in Interface by 1,041.8% in the first quarter. Gendell Jeffrey L now owns 250,363 shares of the textile maker’s stock valued at $4,211,000 after buying an additional 228,435 shares during the last quarter. Finally, Algert Global LLC purchased a new stake in Interface in the second quarter valued at about $1,828,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Interface Company Profile

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.