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Interface (NASDAQ:TILE) Earns Outperform Rating from Barrington Research

Interface logo with Consumer Discretionary background

Barrington Research reissued their outperform rating on shares of Interface (NASDAQ:TILE - Free Report) in a report released on Monday morning, Benzinga reports. The brokerage currently has a $22.00 price objective on the textile maker's stock.

TILE has been the topic of a number of other reports. Truist Financial increased their price target on shares of Interface from $10.00 to $14.00 and gave the stock a hold rating in a report on Wednesday, February 28th. TheStreet raised shares of Interface from a c rating to a b- rating in a report on Tuesday, February 27th.

Get Our Latest Report on Interface

Interface Stock Performance

NASDAQ TILE traded up $0.25 during trading on Monday, hitting $14.88. 552,040 shares of the company's stock traded hands, compared to its average volume of 405,364. Interface has a 12-month low of $8.06 and a 12-month high of $18.47. The stock has a market capitalization of $866.61 million, a price-to-earnings ratio of 14.73, a PEG ratio of 0.83 and a beta of 2.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.30 and a current ratio of 2.72. The business has a 50 day moving average of $15.56 and a 200-day moving average of $14.27.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings results on Friday, May 3rd. The textile maker reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.12. Interface had a net margin of 4.73% and a return on equity of 16.94%. The firm had revenue of $289.70 million for the quarter, compared to the consensus estimate of $284.76 million. During the same period in the prior year, the firm posted $0.07 earnings per share. The company's revenue for the quarter was down 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that Interface will post 1.18 earnings per share for the current fiscal year.


Interface Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Friday, May 31st. Interface's dividend payout ratio is 3.96%.

Insider Transactions at Interface

In other news, Director Daniel T. Hendrix sold 12,500 shares of the firm's stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $15.05, for a total value of $188,125.00. Following the transaction, the director now owns 258,647 shares in the company, valued at $3,892,637.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Stansfield Nigel sold 19,990 shares of Interface stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $16.24, for a total value of $324,637.60. Following the sale, the vice president now owns 181,855 shares in the company, valued at $2,953,325.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel T. Hendrix sold 12,500 shares of Interface stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $15.05, for a total transaction of $188,125.00. Following the completion of the sale, the director now owns 258,647 shares in the company, valued at approximately $3,892,637.35. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Interface

Several institutional investors and hedge funds have recently added to or reduced their stakes in TILE. Barclays PLC lifted its position in Interface by 13.2% during the third quarter. Barclays PLC now owns 94,179 shares of the textile maker's stock valued at $922,000 after buying an additional 10,990 shares during the period. New York State Common Retirement Fund lifted its position in Interface by 35.1% during the third quarter. New York State Common Retirement Fund now owns 61,847 shares of the textile maker's stock valued at $607,000 after buying an additional 16,058 shares during the period. Swiss National Bank raised its position in shares of Interface by 1.5% in the 3rd quarter. Swiss National Bank now owns 127,500 shares of the textile maker's stock worth $1,251,000 after purchasing an additional 1,900 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Interface by 6.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,082,259 shares of the textile maker's stock worth $10,617,000 after purchasing an additional 67,619 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Interface by 32.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 46,088 shares of the textile maker's stock worth $452,000 after purchasing an additional 11,294 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

Interface Company Profile

(Get Free Report)

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.

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