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 report issued on Monday morning.

Separately, Barrington Research reaffirmed an outperform rating and set a $22.00 target price on shares of Interface in a report on Monday, June 17th.

Interface Trading Up 0.2 %

Interface stock opened at $17.28 on Monday. The company has a quick ratio of 1.30, a current ratio of 2.72 and a debt-to-equity ratio of 0.89. Interface has a 52 week low of $8.26 and a 52 week high of $18.47. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 0.97 and a beta of 2.00. The stock has a 50-day moving average price of $15.48 and a 200 day moving average price of $15.06.

Interface (NASDAQ:TILE) last released its earnings results on Friday, May 3rd. The textile maker reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.12. Interface had a return on equity of 16.94% and a net margin of 4.73%. The firm had revenue of $289.70 million during the quarter, compared to the consensus estimate of $284.76 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s revenue was down 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Interface will post 1.18 EPS for the current year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Friday, May 31st. Interface’s payout ratio is presently 3.96%.

Insider Buying and Selling at Interface

In other Interface news, VP Stansfield Nigel sold 19,990 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $16.24, for a total value of $324,637.60. Following the completion of the transaction, the vice president now directly owns 181,855 shares of the company’s stock, valued at $2,953,325.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Daniel T. Hendrix sold 17,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $17.05, for a total transaction of $294,965.00. Following the completion of the transaction, the director now directly owns 213,647 shares of the company’s stock, valued at approximately $3,642,681.35. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Stansfield Nigel sold 19,990 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $16.24, for a total value of $324,637.60. Following the transaction, the vice president now directly owns 181,855 shares of the company’s stock, valued at $2,953,325.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,890 shares of company stock valued at $1,264,933. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Innealta Capital LLC acquired a new position in shares of Interface during the 2nd quarter worth approximately $32,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Interface during the 1st quarter worth approximately $57,000. GAMMA Investing LLC raised its stake in shares of Interface by 131.1% during the 1st quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock worth $66,000 after buying an additional 2,237 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Interface during the first quarter worth approximately $110,000. Finally, Diversified Trust Co purchased a new stake in shares of Interface during the second quarter worth approximately $154,000. 98.34% of the stock is owned by institutional investors and hedge funds.

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.