Barrington Research Issues Positive Forecast for Interface (NASDAQ:TILE) Stock Price

Interface (NASDAQ:TILE) had its price objective upped by Barrington Research from $32.00 to $36.00 in a research report released on Friday morning, MarketBeat.com reports. Barrington Research currently has an outperform rating on the textile maker’s stock.

TILE has been the topic of a number of other research reports. Weiss Ratings lowered Interface from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, December 24th. Zacks Research downgraded shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Finally, Wall Street Zen cut shares of Interface from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 16th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Interface presently has a consensus rating of “Hold” and an average price target of $36.00.

Interface Stock Performance

NASDAQ:TILE opened at $31.18 on Friday. The firm has a market capitalization of $1.82 billion, a PE ratio of 16.24, a PEG ratio of 1.06 and a beta of 1.90. The stock’s fifty day moving average is $28.49 and its 200 day moving average is $26.85. Interface has a fifty-two week low of $17.24 and a fifty-two week high of $32.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.70 and a current ratio of 2.89.

Interface (NASDAQ:TILE) last announced its earnings results on Friday, October 31st. The textile maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.15. The business had revenue of $364.53 million for the quarter, compared to the consensus estimate of $358.19 million. Interface had a net margin of 8.27% and a return on equity of 19.30%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. On average, sell-side analysts anticipate that Interface will post 1.37 earnings per share for the current year.

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, November 28th. Interface’s dividend payout ratio is presently 4.17%.

Institutional Investors Weigh In On Interface

Several hedge funds have recently modified their holdings of TILE. IFP Advisors Inc boosted its stake in shares of Interface by 2,695.2% during the second quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 1,132 shares in the last quarter. TD Private Client Wealth LLC purchased a new stake in Interface during the third quarter worth $32,000. Blue Trust Inc. bought a new stake in Interface during the 3rd quarter valued at $34,000. Larson Financial Group LLC increased its holdings in shares of Interface by 114.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock valued at $34,000 after acquiring an additional 628 shares during the period. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Interface in the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

About Interface

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.