Barrington Research Boosts Interface (NASDAQ:TILE) Price Target to $32.00

Key Points

• Barrington Research has raised the target price for Interface (NASDAQ:TILE) from $30.00 to $32.00, suggesting a potential upside of 30.29% from its current price.
• Wall Street Zen upgraded Interface from a "hold" to a "buy" rating, reflecting increased confidence in the company's stock.
• Interface recently reported earnings of $0.60 per share, exceeding analyst expectations and indicating a substantial 8.3% increase in quarterly revenue compared to the previous year.

Interface (NASDAQ:TILE - Get Free Report) had its target price increased by investment analysts at Barrington Research from $30.00 to $32.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the textile maker's stock. Barrington Research's price target would indicate a potential upside of 25.56% from the company's current price.

Separately, Wall Street Zen upgraded Interface from a "hold" rating to a "buy" rating in a research report on Saturday, May 10th.

Interface Stock Up 0.9%

Shares of TILE stock traded up $0.24 during mid-day trading on Friday, hitting $25.49. The company's stock had a trading volume of 85,509 shares, compared to its average volume of 455,951. Interface has a 52-week low of $15.93 and a 52-week high of $27.34. The business has a 50-day moving average price of $20.99 and a 200 day moving average price of $20.68. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.59 and a current ratio of 2.88. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 1.04 and a beta of 2.01.

Interface (NASDAQ:TILE - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The textile maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.13. Interface had a return on equity of 18.97% and a net margin of 7.08%. The firm had revenue of $375.52 million during the quarter, compared to analysts' expectations of $360.57 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. The company's revenue was up 8.3% on a year-over-year basis. Research analysts predict that Interface will post 1.37 EPS for the current fiscal year.

Insider Transactions at Interface

In other news, VP James Poppens sold 19,474 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $20.14, for a total value of $392,206.36. Following the completion of the transaction, the vice president owned 130,142 shares of the company's stock, valued at $2,621,059.88. This represents a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Interface

A number of hedge funds have recently made changes to their positions in the business. IFP Advisors Inc lifted its position in shares of Interface by 2,695.2% in the second quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker's stock worth $25,000 after buying an additional 1,132 shares in the last quarter. Huntington National Bank purchased a new stake in shares of Interface in the fourth quarter worth about $28,000. Virtus Fund Advisers LLC purchased a new stake in shares of Interface in the fourth quarter worth about $48,000. Versant Capital Management Inc lifted its position in shares of Interface by 49.6% in the first quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock worth $49,000 after buying an additional 815 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new stake in shares of Interface in the first quarter worth about $57,000. Institutional investors own 98.34% of the company's stock.

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.