Interface (NASDAQ:TILE) Downgraded by StockNews.com

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

Separately, Barrington Research reaffirmed an outperform rating and set a $22.00 price target on shares of Interface in a research report on Monday, June 17th.

Interface Stock Down 4.3 %

Shares of Interface stock opened at $16.54 on Monday. The business has a 50-day moving average of $15.50 and a two-hundred day moving average of $15.07. Interface has a 1 year low of $8.26 and a 1 year high of $18.47. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.72 and a quick ratio of 1.30. The company has a market capitalization of $963.29 million, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 0.97 and a beta of 2.00.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, May 3rd. The textile maker reported $0.24 EPS for the quarter, beating the consensus estimate of $0.12 by $0.12. The business had revenue of $289.70 million for the quarter, compared to analysts’ expectations of $284.76 million. Interface had a net margin of 4.73% and a return on equity of 16.94%. The firm’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. As a group, equities analysts predict that Interface will post 1.18 EPS for the current year.

Interface Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Friday, May 31st. Interface’s dividend payout ratio is currently 3.96%.

Insider Activity at Interface

In related news, Director Daniel T. Hendrix sold 17,300 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $17.05, for a total transaction of $294,965.00. Following the transaction, the director now directly owns 213,647 shares in the company, valued at $3,642,681.35. The sale was disclosed in a filing with the SEC, which is available through this link. In other Interface news, Director Daniel T. Hendrix sold 17,300 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $17.05, for a total value of $294,965.00. Following the transaction, the director now directly owns 213,647 shares in the company, valued at $3,642,681.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel T. Hendrix sold 2,153 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $14.67, for a total transaction of $31,584.51. Following the sale, the director now owns 246,147 shares of the company’s stock, valued at $3,610,976.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,890 shares of company stock valued at $1,264,933. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Interface

Several hedge funds and other institutional investors have recently bought and sold shares of TILE. First Eagle Investment Management LLC bought a new position in shares of Interface during the first quarter worth approximately $2,027,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of Interface by 182.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 130,020 shares of the textile maker’s stock valued at $2,187,000 after acquiring an additional 83,932 shares in the last quarter. Access Investment Management LLC bought a new stake in Interface during the 4th quarter worth $2,024,000. Inspire Investing LLC acquired a new stake in shares of Interface during the first quarter valued at about $859,000. Finally, Federated Hermes Inc. bought a new stake in shares of Interface during the fourth quarter worth about $1,187,000. 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.