Interface (NASDAQ:TILE) Stock Rating Reaffirmed by Barrington Research

Interface (NASDAQ:TILE)‘s stock had its “outperform” rating restated by stock analysts at Barrington Research in a research report issued on Friday, Benzinga reports. They currently have a $22.00 price objective on the textile maker’s stock. Barrington Research’s price objective indicates a potential upside of 26.87% from the stock’s current price.

Separately, StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday.

Interface Stock Performance

Shares of NASDAQ TILE traded up $0.80 during midday trading on Friday, hitting $17.34. 627,927 shares of the company’s stock traded hands, compared to its average volume of 407,878. The firm has a fifty day moving average of $15.50 and a 200 day moving average of $15.07. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 0.98 and a beta of 2.00. 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 quick ratio of 1.30 and a current ratio of 2.72.

Interface (NASDAQ:TILE) last released its quarterly earnings data on Friday, August 2nd. The textile maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.12. Interface had a net margin of 4.73% and a return on equity of 16.94%. The firm had revenue of $346.60 million for the quarter, compared to analysts’ expectations of $340.21 million. During the same quarter last year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts forecast that Interface will post 1.18 earnings per share for the current year.

Insider Activity at Interface

In other Interface news, VP Stansfield Nigel sold 19,990 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $16.24, for a total value of $324,637.60. Following the sale, the vice president now owns 181,855 shares in the company, valued at approximately $2,953,325.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Daniel T. Hendrix sold 17,300 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $17.05, for a total transaction of $294,965.00. Following the transaction, the director now owns 213,647 shares in the company, valued at approximately $3,642,681.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Stansfield Nigel sold 19,990 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $16.24, for a total value of $324,637.60. Following the transaction, the vice president now owns 181,855 shares in the company, valued at approximately $2,953,325.20. The disclosure for this sale can be found here. Insiders have sold a total of 78,890 shares of company stock worth $1,264,933 over the last quarter. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in Interface in the 2nd quarter valued at $32,000. Panagora Asset Management Inc. raised its stake in Interface by 7.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 291,348 shares of the textile maker’s stock valued at $4,277,000 after purchasing an additional 20,243 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Interface by 13.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,825 shares of the textile maker’s stock valued at $218,000 after purchasing an additional 1,770 shares during the last quarter. Legato Capital Management LLC acquired a new position in Interface in the 2nd quarter valued at $814,000. Finally, Hennessy Advisors Inc. acquired a new position in Interface in the 2nd quarter valued at $7,430,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Interface Company Profile

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.