Interface (NASDAQ:TILE) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Interface from “hold” to “strong-buy,” while other analysts maintain a generally positive outlook. The stock has a consensus “Buy” rating and an average price target of $40.50.
• Interface exceeded quarterly expectations, reporting EPS of $0.88 versus the $0.64 consensus estimate and revenue of $395.7 million. Revenue rose 5.4% year over year, and analysts expect full-year EPS of $2.36.
• Interface shares opened at $37.89, near their 12-month high of $40.50, while institutional investors own 98.34% of the company. CEO Laurel Hurd recently sold 7,000 shares for approximately $273,630.

Interface (NASDAQ:TILE - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

A number of other brokerages have also recently commented on TILE. Weiss Ratings upgraded Interface from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 12th. Wall Street Zen cut Interface from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. Benchmark assumed coverage on Interface in a research report on Tuesday, May 19th. They issued a "buy" rating and a $36.00 price objective on the stock. Finally, Barrington Research increased their price objective on Interface from $36.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to MarketBeat, Interface presently has a consensus rating of "Buy" and an average target price of $40.50.

Interface Stock Performance

NASDAQ:TILE opened at $37.89 on Wednesday. The company has a current ratio of 2.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $2.20 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.09 and a beta of 1.90. The firm has a 50-day moving average price of $35.28 and a two-hundred day moving average price of $31.10. Interface has a twelve month low of $24.40 and a twelve month high of $40.50.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.24. The company had revenue of $395.70 million for the quarter, compared to the consensus estimate of $391.22 million. Interface had a net margin of 10.10% and a return on equity of 21.77%. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 earnings per share. As a group, research analysts expect that Interface will post 2.36 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Laurel Hurd sold 7,000 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $39.09, for a total value of $273,630.00. Following the completion of the sale, the chief executive officer directly owned 506,978 shares in the company, valued at approximately $19,817,770.02. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.47% of the company's stock.

Hedge Funds Weigh In On Interface

A number of large investors have recently bought and sold shares of the stock. Westover Capital Advisors LLC acquired a new stake in shares of Interface during the 4th quarter worth $1,744,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Interface by 2,333.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker's stock valued at $7,845,000 after acquiring an additional 269,439 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Interface in the first quarter valued at $3,257,000. Virtus Advisers LLC purchased a new stake in Interface during the second quarter valued at about $1,489,000. Finally, Aurora Investment Counsel purchased a new stake in Interface during the second quarter valued at about $3,043,000. Hedge funds and other 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.

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