Interface (NASDAQ:TILE) Lowered to Buy Rating by Wall Street Zen

Wall Street Zen cut shares of Interface (NASDAQ:TILE) from a strong-buy rating to a buy rating in a report released on Sunday morning.

Several other brokerages have also weighed in on TILE. Weiss Ratings raised Interface from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Zacks Research cut shares of Interface from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Finally, Barrington Research upped their target price on Interface from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.00.

Interface Stock Down 0.5%

Shares of Interface stock opened at $31.49 on Friday. Interface has a twelve month low of $17.24 and a twelve month high of $35.11. The company has a fifty day moving average price of $31.10 and a 200 day moving average price of $28.70. The company has a current ratio of 2.34, a quick ratio of 1.18 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.02 and a beta of 1.87.

Interface (NASDAQ:TILE) last posted its earnings results on Tuesday, February 24th. The textile maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.09. The business had revenue of $349.39 million for the quarter, compared to analysts’ expectations of $350.54 million. Interface had a net margin of 8.37% and a return on equity of 19.54%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 earnings per share. Equities research analysts forecast that Interface will post 1.37 earnings per share for the current fiscal year.

Interface Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, March 27th. This is a positive change from Interface’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a yield of 0.4%. Interface’s dividend payout ratio is presently 4.08%.

Institutional Trading of Interface

A number of hedge funds and other institutional investors have recently modified their holdings of TILE. CIBC Private Wealth Group LLC grew its position in Interface by 180.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock worth $27,000 after acquiring an additional 631 shares in the last quarter. TD Private Client Wealth LLC acquired a new stake in shares of Interface in the 3rd quarter valued at $32,000. Blue Trust Inc. bought a new stake in Interface in the third quarter worth $34,000. Larson Financial Group LLC increased its position in Interface by 114.6% during the third quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock worth $34,000 after buying an additional 628 shares during the last quarter. Finally, EverSource Wealth Advisors LLC bought a new position in Interface during the second quarter valued at about $35,000. Institutional investors own 98.34% of the company’s stock.

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.