Interface (NASDAQ:TILE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Interface (NASDAQ:TILE) from a buy rating to a strong-buy rating in a research note published on Monday morning.

A number of other equities research analysts have also recently weighed in on TILE. Weiss Ratings cut shares of Interface from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 6th. Barrington Research raised their target price on shares of Interface from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Finally, Zacks Research lowered shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Interface currently has a consensus rating of “Hold” and an average target price of $36.00.

Interface Trading Up 1.3%

Shares of NASDAQ:TILE opened at $27.83 on Monday. The company has a market cap of $1.61 billion, a PE ratio of 14.20, a P/E/G ratio of 0.89 and a beta of 1.87. The company’s 50-day moving average price is $31.13 and its 200 day moving average price is $28.79. Interface has a fifty-two week low of $17.24 and a fifty-two week high of $35.11. The company has a quick ratio of 1.18, a current ratio of 2.34 and a debt-to-equity ratio of 0.27.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Tuesday, February 24th. The textile maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.40 by $0.09. The company had revenue of $349.39 million for the quarter, compared to analyst estimates of $350.54 million. Interface had a net margin of 8.37% and a return on equity of 19.54%. Interface’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 earnings per share. Sell-side analysts anticipate that Interface will post 1.37 earnings per share for the current year.

Interface Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 27th will be paid a dividend of $0.03 per share. This is an increase from Interface’s previous quarterly dividend of $0.02. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, March 27th. Interface’s dividend payout ratio (DPR) is 4.08%.

Insider Buying and Selling

In other Interface news, VP James Poppens sold 8,000 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $28.05, for a total value of $224,400.00. Following the sale, the vice president directly owned 103,846 shares in the company, valued at approximately $2,912,880.30. The trade was a 7.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 25,650 shares of company stock valued at $736,292 in the last quarter. 2.30% of the stock is currently owned by insiders.

Institutional Trading of Interface

Several institutional investors and hedge funds have recently added to or reduced their stakes in TILE. Royal Bank of Canada grew its position in Interface by 8.4% in the first quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker’s stock worth $390,000 after buying an additional 1,522 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Interface by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker’s stock worth $677,000 after acquiring an additional 1,485 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Interface by 5.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock worth $14,854,000 after acquiring an additional 42,011 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Interface by 6.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker’s stock worth $3,015,000 after acquiring an additional 9,580 shares during the last quarter. Finally, Atria Investments Inc raised its position in shares of Interface by 4.8% during the second quarter. Atria Investments Inc now owns 12,990 shares of the textile maker’s stock worth $272,000 after purchasing an additional 590 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

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.