Barrington Research Begins Coverage on Interface (NASDAQ:TILE)

Barrington Research assumed coverage on shares of Interface (NASDAQ:TILE) in a research report released on Monday, Marketbeat.com reports. The brokerage issued an outperform rating and a $20.00 price target on the textile maker’s stock. Barrington Research also issued estimates for Interface’s Q1 2024 earnings at $0.14 EPS, Q2 2024 earnings at $0.32 EPS, Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.32 EPS, FY2024 earnings at $1.08 EPS and FY2025 earnings at $1.30 EPS.

A number of other equities analysts have also recently weighed in on the stock. TheStreet raised shares of Interface from a c rating to a b- rating in a research report on Tuesday, February 27th. Truist Financial upped their price objective on shares of Interface from $10.00 to $14.00 and gave the company a hold rating in a research report on Wednesday, February 28th.

Interface Price Performance

Shares of NASDAQ:TILE opened at $14.88 on Monday. The business’s 50 day simple moving average is $15.28 and its 200-day simple moving average is $12.42. The firm has a market capitalization of $866.02 million, a price-to-earnings ratio of 19.58 and a beta of 1.98. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.72 and a quick ratio of 1.42. Interface has a 12 month low of $6.51 and a 12 month high of $18.47.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Tuesday, February 27th. The textile maker reported $0.41 EPS for the quarter, topping the consensus estimate of $0.22 by $0.19. The business had revenue of $325.10 million for the quarter, compared to analyst estimates of $320.16 million. Interface had a return on equity of 14.95% and a net margin of 3.53%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 EPS. As a group, equities analysts forecast that Interface will post 1.02 earnings per share for the current fiscal year.

Interface Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.27%. Interface’s payout ratio is currently 5.26%.

Institutional Investors Weigh In On Interface

Several large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Interface by 1.2% in the second quarter. BlackRock Inc. now owns 9,897,731 shares of the textile maker’s stock valued at $87,001,000 after purchasing an additional 119,605 shares during the period. Vanguard Group Inc. increased its stake in shares of Interface by 0.5% during the third quarter. Vanguard Group Inc. now owns 6,600,201 shares of the textile maker’s stock valued at $59,335,000 after acquiring an additional 30,836 shares during the period. Pzena Investment Management LLC increased its stake in shares of Interface by 65.2% during the third quarter. Pzena Investment Management LLC now owns 3,614,372 shares of the textile maker’s stock valued at $35,457,000 after acquiring an additional 1,426,749 shares during the period. Wellington Management Group LLP increased its stake in shares of Interface by 0.5% during the fourth quarter. Wellington Management Group LLP now owns 2,508,961 shares of the textile maker’s stock valued at $31,663,000 after acquiring an additional 12,847 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Interface by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,486,319 shares of the textile maker’s stock valued at $20,188,000 after acquiring an additional 28,245 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.