Interface (NASDAQ:TILE) Upgraded by Zacks Research to Strong-Buy Rating

Interface (NASDAQ:TILE) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Other analysts have also issued reports about the stock. Benchmark started coverage on shares of Interface in a research report on Tuesday, May 19th. They set a “buy” rating and a $36.00 price target on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Interface in a research report on Wednesday, June 17th. Wall Street Zen upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Interface in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $36.00.

Interface Stock Up 0.4%

TILE stock opened at $35.84 on Monday. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 1.13 and a beta of 1.91. Interface has a twelve month low of $20.37 and a twelve month high of $36.05. The business has a 50 day moving average price of $29.97 and a two-hundred day moving average price of $29.48. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.30.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Friday, May 8th. The textile maker reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. Interface had a return on equity of 20.09% and a net margin of 8.92%.The company had revenue of $331.04 million for the quarter, compared to analysts’ expectations of $320.38 million. During the same quarter in the prior year, the business posted $0.25 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. Analysts anticipate that Interface will post 2.11 EPS for the current fiscal year.

Insider Transactions at Interface

In related news, VP David B. Foshee sold 44,393 shares of Interface stock in a transaction dated Monday, May 18th. The shares were 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 of the company’s stock, valued at approximately $5,075,406. The trade was a 20.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the 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 in the company, valued at approximately $3,537,132.96. This represents a 29.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.47% of the company’s stock.

Institutional Investors Weigh In On Interface

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada increased its position in Interface by 8.4% during the first quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker’s stock worth $390,000 after acquiring an additional 1,522 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Interface by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker’s stock valued at $677,000 after acquiring an additional 1,485 shares during the period. Goldman Sachs Group Inc. raised its stake in Interface by 5.9% in the first quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock valued at $14,854,000 after purchasing an additional 42,011 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Interface by 6.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker’s stock worth $3,015,000 after buying an additional 9,580 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Interface by 24.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 201,630 shares of the textile maker’s stock worth $4,220,000 after acquiring an additional 39,941 shares during the period. 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.