Interface (NASDAQ:TILE) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Interface (NASDAQ:TILE) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks.com reports.

TILE has been the topic of several other reports. Wall Street Zen cut Interface from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. Weiss Ratings lowered shares of Interface from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, December 24th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $32.00 price objective on shares of Interface in a research report on Friday, October 31st. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.00.

Interface Trading Down 3.3%

TILE opened at $27.92 on Tuesday. Interface has a fifty-two week low of $17.24 and a fifty-two week high of $30.20. The firm has a market capitalization of $1.63 billion, a PE ratio of 14.54, a P/E/G ratio of 1.01 and a beta of 1.94. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.89 and a quick ratio of 1.70. The company’s 50-day moving average is $27.28 and its 200 day moving average is $25.82.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, October 31st. The textile maker reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.15. The firm had revenue of $364.53 million during the quarter, compared to analyst estimates of $358.19 million. Interface had a return on equity of 19.30% and a net margin of 8.27%.The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 EPS. As a group, research analysts predict that Interface will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.08 annualized dividend and a yield of 0.3%. Interface’s payout ratio is currently 4.17%.

Institutional Investors Weigh In On Interface

Several large investors have recently modified their holdings of TILE. CX Institutional purchased a new position in Interface in the third quarter valued at approximately $9,696,000. SG Capital Management LLC purchased a new position in shares of Interface during the 3rd quarter valued at $8,753,000. Allspring Global Investments Holdings LLC lifted its position in shares of Interface by 1,114.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 289,261 shares of the textile maker’s stock valued at $8,371,000 after buying an additional 265,440 shares during the last quarter. Clark Capital Management Group Inc. grew its stake in shares of Interface by 67.9% during the 3rd quarter. Clark Capital Management Group Inc. now owns 623,295 shares of the textile maker’s stock worth $18,038,000 after acquiring an additional 252,157 shares during the period. Finally, Congress Asset Management Co. increased its holdings in Interface by 9.1% in the 2nd quarter. Congress Asset Management Co. now owns 2,473,541 shares of the textile maker’s stock worth $51,771,000 after acquiring an additional 206,962 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Company Profile

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.