Interface (TILE) Stock Rating Upgraded by Longbow Research
Longbow Research upgraded shares of Interface (NASDAQ:TILE) from a neutral rating to a buy rating in a research report released on Tuesday, MarketBeat.com reports. Longbow Research currently has $30.00 price target on the textile maker’s stock. The analysts noted that the move was a valuation call.
Several other analysts also recently commented on the company. Zacks Investment Research downgraded Interface from a buy rating to a hold rating in a research note on Thursday, June 28th. BidaskClub downgraded Interface from a buy rating to a hold rating in a research note on Saturday, April 28th. Finally, ValuEngine downgraded Interface from a buy rating to a hold rating in a research note on Friday, April 27th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $26.75.
TILE stock opened at $22.90 on Tuesday. Interface has a twelve month low of $18.30 and a twelve month high of $26.25. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.57 and a quick ratio of 1.46. The company has a market cap of $1.34 billion, a P/E ratio of 19.41 and a beta of 1.17.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Shareholders of record on Friday, August 10th will be paid a dividend of $0.065 per share. The ex-dividend date is Thursday, August 9th. This represents a $0.26 annualized dividend and a yield of 1.14%. Interface’s dividend payout ratio is 22.03%.
A number of institutional investors and hedge funds have recently modified their holdings of TILE. Renaissance Technologies LLC purchased a new stake in Interface during the 4th quarter valued at $5,141,000. Guggenheim Capital LLC purchased a new stake in Interface during the 4th quarter valued at $972,000. MetLife Investment Advisors LLC purchased a new stake in Interface during the 4th quarter valued at $681,000. Xact Kapitalforvaltning AB purchased a new stake in Interface during the 4th quarter valued at $210,000. Finally, Wells Fargo & Company MN boosted its stake in Interface by 14.5% during the 1st quarter. Wells Fargo & Company MN now owns 920,947 shares of the textile maker’s stock valued at $23,209,000 after purchasing an additional 116,681 shares during the last quarter. Institutional investors and hedge funds own 89.97% of the company’s stock.
Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; and luxury vinyl tile products.
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