Interface (NASDAQ:TILE) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Key Points

• Interface has been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, indicating increased confidence from analysts.
• Barrington Research raised their price target for Interface from $30.00 to $32.00 while maintaining an "outperform" rating for the company.
• The company reported a quarterly earnings per share (EPS) of $0.60, exceeding expectations of $0.47, and generated $375.52 million in revenue, up 8.3% year-over-year.

Interface (NASDAQ:TILE - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday.

Separately, Barrington Research lifted their target price on shares of Interface from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st.

Interface Stock Performance

NASDAQ TILE traded up $0.04 during trading hours on Friday, reaching $24.91. 475,384 shares of the company were exchanged, compared to its average volume of 457,585. Interface has a 1 year low of $16.20 and a 1 year high of $27.34. The business's 50 day simple moving average is $21.39 and its 200-day simple moving average is $20.70. The company has a quick ratio of 1.59, a current ratio of 2.88 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.46 billion, a P/E ratio of 15.38, a P/E/G ratio of 0.98 and a beta of 2.00.

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

Insider Activity

In other news, VP Stansfield Nigel sold 79,497 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $25.60, for a total value of $2,035,123.20. Following the completion of the transaction, the vice president directly owned 65,125 shares in the company, valued at approximately $1,667,200. This trade represents a 54.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James Poppens sold 19,474 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $20.14, for a total transaction 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 trade represents a 13.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,497 shares of company stock valued at $2,437,913 in the last quarter. Corporate insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Interface

A number of large investors have recently modified their holdings of the company. Intech Investment Management LLC boosted its position in shares of Interface by 2.1% in the second quarter. Intech Investment Management LLC now owns 221,002 shares of the textile maker's stock valued at $4,626,000 after acquiring an additional 4,482 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Interface by 7.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,048 shares of the textile maker's stock valued at $315,000 after acquiring an additional 1,095 shares during the period. Geode Capital Management LLC boosted its position in shares of Interface by 0.7% in the second quarter. Geode Capital Management LLC now owns 1,433,183 shares of the textile maker's stock valued at $30,000,000 after acquiring an additional 10,537 shares during the period. Jupiter Asset Management Ltd. boosted its position in shares of Interface by 2.9% in the second quarter. Jupiter Asset Management Ltd. now owns 353,183 shares of the textile maker's stock valued at $7,392,000 after acquiring an additional 10,081 shares during the period. Finally, CSM Advisors LLC bought a new stake in Interface during the second quarter valued at approximately $2,623,000. 98.34% of the stock is currently owned by institutional investors.

Interface Company Profile

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.