Interface’s (TILE) “Outperform” Rating Reaffirmed at Barrington Research

Barrington Research restated their outperform rating on shares of Interface (NASDAQ:TILE) in a research report released on Tuesday morning,Benzinga reports. The firm currently has a $30.00 price objective on the textile maker’s stock.

Separately, StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th.

Interface Stock Performance

Shares of TILE opened at $24.50 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.43 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.06 and a beta of 2.10. The business’s 50 day moving average price is $25.02 and its 200-day moving average price is $21.00. Interface has a 52 week low of $12.19 and a 52 week high of $27.34.

Interface (NASDAQ:TILE) last issued its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.14. Interface had a return on equity of 19.91% and a net margin of 6.49%. The firm had revenue of $344.30 million during the quarter, compared to the consensus estimate of $336.39 million. During the same period last year, the company earned $0.28 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. Equities research analysts anticipate that Interface will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. Interface’s payout ratio is 2.80%.

Insider Buying and Selling

In other news, VP Stansfield Nigel sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total value of $482,400.00. Following the transaction, the vice president now directly owns 144,355 shares in the company, valued at $3,481,842.60. This trade represents a 12.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Bruce Andrew Hausmann sold 30,000 shares of Interface stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $25.50, for a total value of $765,000.00. Following the completion of the sale, the chief financial officer now directly owns 168,475 shares of the company’s stock, valued at $4,296,112.50. The trade was a 15.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,675 shares of company stock worth $2,421,237. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TILE. Jennison Associates LLC increased its stake in shares of Interface by 103.2% in the 4th quarter. Jennison Associates LLC now owns 65,494 shares of the textile maker’s stock worth $1,595,000 after purchasing an additional 33,264 shares in the last quarter. SG Americas Securities LLC bought a new stake in Interface during the fourth quarter valued at about $322,000. Wedge Capital Management L L P NC purchased a new stake in Interface in the fourth quarter worth about $1,246,000. Hennessy Advisors Inc. raised its stake in shares of Interface by 6.8% in the fourth quarter. Hennessy Advisors Inc. now owns 608,900 shares of the textile maker’s stock worth $14,827,000 after buying an additional 38,900 shares during the period. Finally, Range Financial Group LLC purchased a new position in shares of Interface during the 4th quarter valued at about $1,293,000. 98.34% of the stock is currently owned by 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.