Barrington Research Forecasts Strong Price Appreciation for Interface (NASDAQ:TILE) Stock

Key Points

• Barrington Research raised Interface’s price target to $45 from $36 and maintained an “outperform” rating, implying 17.52% potential upside. Analysts overall assign the stock a “Moderate Buy” consensus rating with a $40.50 average target.
• Interface exceeded quarterly expectations, reporting $0.88 earnings per share versus the $0.64 consensus estimate and $395.7 million in revenue, up 5.4% year over year.
• Institutional ownership remains high at 98.34%, including a new $338.1 million BlackRock stake, while company insiders recently sold shares and currently own 2.47% of the stock.

Interface (NASDAQ:TILE - Get Free Report) had its price target raised by equities research analysts at Barrington Research from $36.00 to $45.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the textile maker's stock. Barrington Research's price target points to a potential upside of 17.52% from the company's current price.

TILE has been the subject of a number of other research reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Interface in a report on Wednesday, June 17th. Benchmark initiated coverage on shares of Interface in a research report on Tuesday, May 19th. They set a "buy" rating and a $36.00 target price on the stock. Wall Street Zen upgraded Interface from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Finally, Zacks Research cut Interface from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $40.50.

Interface Price Performance

Shares of TILE stock opened at $38.29 on Monday. Interface has a 52-week low of $24.40 and a 52-week high of $40.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.35 and a current ratio of 2.53. The firm has a market capitalization of $2.22 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.21 and a beta of 1.90. The stock has a 50 day moving average price of $33.08 and a 200 day moving average price of $30.46.

Interface (NASDAQ:TILE - Get Free Report) last released its earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.24. Interface had a return on equity of 21.77% and a net margin of 10.10%.The business had revenue of $395.70 million for the quarter, compared to analyst estimates of $391.22 million. During the same quarter last year, the firm posted $0.60 earnings per share. The business's revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that Interface will post 2.11 earnings per share for the current year.

Insider Buying and Selling

In other Interface news, CFO Bruce Andrew Hausmann sold 50,000 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the completion of the sale, the chief financial officer owned 119,256 shares in the company, valued at $3,537,132.96. This represents a 29.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David B. Foshee sold 44,393 shares of the company's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $29.00, for a total value of $1,287,397.00. Following the sale, the vice president owned 175,014 shares of the company's stock, valued at approximately $5,075,406. This represents a 20.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.47% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Interface during the 2nd quarter worth $338,055,000. Dimensional Fund Advisors LP grew its stake in Interface by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,689,857 shares of the textile maker's stock valued at $75,105,000 after purchasing an additional 36,530 shares during the last quarter. State Street Corp raised its holdings in Interface by 0.7% in the fourth quarter. State Street Corp now owns 2,192,472 shares of the textile maker's stock worth $61,214,000 after purchasing an additional 14,764 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Interface by 133.9% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker's stock worth $56,071,000 after purchasing an additional 1,149,733 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its position in shares of Interface by 12.7% during the fourth quarter. GW&K Investment Management LLC now owns 993,413 shares of the textile maker's stock valued at $27,736,000 after buying an additional 111,564 shares during the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

About Interface

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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