Interface’s (TILE) “Outperform” Rating Reiterated at Barrington Research

Barrington Research restated their outperform rating on shares of Interface (NASDAQ:TILE) in a report published on Friday morning, Benzinga reports. They currently have a $22.00 target price on the textile maker’s stock.

Separately, StockNews.com upgraded Interface from a buy rating to a strong-buy rating in a research note on Tuesday, August 6th.

Interface Price Performance

NASDAQ:TILE opened at $18.97 on Friday. The company has a current ratio of 2.76, a quick ratio of 1.45 and a debt-to-equity ratio of 0.84. The firm has a fifty day simple moving average of $17.57 and a 200 day simple moving average of $16.28. Interface has a 1-year low of $8.26 and a 1-year high of $19.45. The stock has a market capitalization of $1.10 billion, a PE ratio of 18.78, a P/E/G ratio of 0.94 and a beta of 1.98.

Interface (NASDAQ:TILE) last issued its earnings results on Friday, August 2nd. The textile maker reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.12. Interface had a net margin of 5.20% and a return on equity of 18.42%. The company had revenue of $346.60 million for the quarter, compared to analysts’ expectations of $340.21 million. During the same period in the prior year, the firm earned $0.25 EPS. Interface’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts expect that Interface will post 1.28 EPS for the current fiscal year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.04 annualized dividend and a yield of 0.21%. Interface’s dividend payout ratio (DPR) is presently 3.96%.

Insider Activity

In related news, Director Daniel T. Hendrix sold 3,555 shares of Interface stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $17.53, for a total transaction of $62,319.15. Following the completion of the sale, the director now directly owns 191,147 shares of the company’s stock, valued at approximately $3,350,806.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Daniel T. Hendrix sold 3,555 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $17.53, for a total value of $62,319.15. Following the transaction, the director now directly owns 191,147 shares in the company, valued at $3,350,806.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel T. Hendrix sold 2,153 shares of Interface stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $14.67, for a total transaction of $31,584.51. Following the completion of the sale, the director now owns 246,147 shares of the company’s stock, valued at approximately $3,610,976.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,858 shares of company stock valued at $2,091,604. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Interface

Several institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in Interface in the 2nd quarter valued at $32,000. Allspring Global Investments Holdings LLC bought a new position in shares of Interface in the first quarter worth $57,000. GAMMA Investing LLC raised its stake in Interface by 131.1% in the first quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 2,237 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Interface during the second quarter worth about $91,000. Finally, SG Americas Securities LLC bought a new stake in Interface during the first quarter worth about $110,000. 98.34% of the stock is currently owned by institutional investors.

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.