Interface (NASDAQ:TILE) Cut to “Buy” at StockNews.com

StockNews.com lowered shares of Interface (NASDAQ:TILE) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.

Separately, Barrington Research reissued an “outperform” rating and issued a $30.00 price objective on shares of Interface in a report on Tuesday, February 25th.

Interface Stock Down 1.7 %

TILE stock opened at $18.33 on Tuesday. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average of $22.91 and a two-hundred day moving average of $21.97. Interface has a 12 month low of $14.13 and a 12 month high of $27.34. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.96 and a beta of 2.10.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 EPS for the quarter, beating the consensus estimate of $0.29 by $0.05. The firm had revenue of $335.00 million during the quarter, compared to analysts’ expectations of $340.51 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. As a group, analysts forecast that Interface will post 1.37 earnings per share for the current fiscal year.

Insider Activity

In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $23.78, for a total transaction of $297,250.00. Following the completion of the sale, the director now owns 103,647 shares of the company’s stock, valued at $2,464,725.66. This trade represents a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 32,500 shares of company stock valued at $748,125. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Interface

Hedge funds have recently modified their holdings of the business. Venturi Wealth Management LLC lifted its position in Interface by 204.4% in the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock valued at $27,000 after buying an additional 750 shares during the last quarter. Huntington National Bank purchased a new stake in shares of Interface in the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC lifted its holdings in shares of Interface by 78.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock worth $30,000 after acquiring an additional 546 shares during the last quarter. Principal Securities Inc. boosted its position in shares of Interface by 103.1% during the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock worth $36,000 after purchasing an additional 741 shares during the period. Finally, Quarry LP increased its holdings in Interface by 499.5% in the 3rd quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock valued at $47,000 after purchasing an additional 2,063 shares during the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

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.