Interface (NASDAQ:TILE) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Interface (NASDAQ:TILE) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

TILE has been the subject of several other research reports. Weiss Ratings raised shares of Interface from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Benchmark started coverage on shares of Interface in a report on Tuesday, May 19th. They set a “buy” rating and a $36.00 price objective on the stock. Zacks Research lowered shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Finally, Barrington Research lifted their price objective on shares of Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.50.

Interface Stock Performance

Shares of TILE opened at $38.04 on Friday. Interface has a one year low of $24.40 and a one year high of $40.50. The company has a market cap of $2.21 billion, a PE ratio of 15.40, a P/E/G ratio of 1.07 and a beta of 1.90. The stock has a 50-day moving average of $34.12 and a 200-day moving average of $30.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.53 and a quick ratio of 1.35.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.24. Interface had a return on equity of 21.77% and a net margin of 10.10%.The business had revenue of $395.70 million for the quarter, compared to analyst estimates of $391.22 million. During the same quarter in the prior year, the company earned $0.60 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts predict that Interface will post 2.36 EPS for the current fiscal year.

Insider Transactions at Interface

In other Interface news, CFO Bruce Andrew Hausmann sold 50,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $29.66, for a total value of $1,483,000.00. Following the completion of the sale, the chief financial officer directly owned 119,256 shares of the company’s stock, valued at approximately $3,537,132.96. This represents a 29.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.47% of the company’s stock.

Hedge Funds Weigh In On Interface

Several institutional investors have recently modified their holdings of TILE. Westover Capital Advisors LLC purchased a new position in shares of Interface in the 4th quarter worth about $1,744,000. Northwestern Mutual Wealth Management Co. raised its holdings in Interface by 2,333.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker’s stock valued at $7,845,000 after acquiring an additional 269,439 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Interface during the 1st quarter valued at $3,257,000. AlphaQuest LLC increased its position in shares of Interface by 304.9% during the fourth quarter. AlphaQuest LLC now owns 50,080 shares of the textile maker’s stock valued at $1,398,000 after buying an additional 37,712 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Interface by 195.0% during the 1st quarter. Janus Henderson Group PLC now owns 75,021 shares of the textile maker’s stock worth $1,869,000 after acquiring an additional 49,590 shares during the period. 98.34% of the stock is owned by institutional investors.

About Interface

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.