Interface (NASDAQ:TILE) Receives New Coverage from Analysts at Barrington Research

Barrington Research initiated coverage on shares of Interface (NASDAQ:TILE) in a report released on Monday morning, MarketBeat.com reports. The firm issued an outperform rating and a $20.00 target price on the textile maker’s stock. Barrington Research also issued estimates for Interface’s Q1 2024 earnings at $0.14 EPS, Q2 2024 earnings at $0.32 EPS, Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.32 EPS, FY2024 earnings at $1.08 EPS and FY2025 earnings at $1.30 EPS.

Several other equities analysts have also commented on TILE. TheStreet raised shares of Interface from a c rating to a b- rating in a report on Tuesday, February 27th. Truist Financial increased their target price on shares of Interface from $10.00 to $14.00 and gave the company a hold rating in a report on Wednesday, February 28th.

Interface Stock Performance

Interface stock opened at $14.93 on Monday. The firm’s fifty day moving average price is $15.32 and its 200-day moving average price is $12.44. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 2.72. The stock has a market cap of $868.93 million, a P/E ratio of 19.64, a price-to-earnings-growth ratio of 0.96 and a beta of 1.98. Interface has a fifty-two week low of $6.51 and a fifty-two week high of $18.47.

Interface (NASDAQ:TILE) last released its earnings results on Tuesday, February 27th. The textile maker reported $0.41 EPS for the quarter, beating the consensus estimate of $0.22 by $0.19. Interface had a net margin of 3.53% and a return on equity of 14.95%. The company had revenue of $325.10 million for the quarter, compared to analyst estimates of $320.16 million. During the same quarter last year, the firm earned $0.31 EPS. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts expect that Interface will post 1.05 earnings per share for the current fiscal year.

Interface Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Wednesday, March 27th. Interface’s dividend payout ratio (DPR) is presently 5.26%.

Institutional Investors Weigh In On Interface

A number of large investors have recently added to or reduced their stakes in TILE. Bank of New York Mellon Corp grew its holdings in Interface by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 611,562 shares of the textile maker’s stock worth $8,299,000 after acquiring an additional 2,333 shares during the last quarter. Citigroup Inc. grew its holdings in Interface by 12.7% in the 1st quarter. Citigroup Inc. now owns 51,057 shares of the textile maker’s stock worth $693,000 after acquiring an additional 5,748 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Interface by 54.9% in the 1st quarter. MetLife Investment Management LLC now owns 31,795 shares of the textile maker’s stock worth $431,000 after purchasing an additional 11,267 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Interface by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,911 shares of the textile maker’s stock worth $691,000 after purchasing an additional 6,277 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Interface by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,469,657 shares of the textile maker’s stock worth $33,513,000 after purchasing an additional 14,962 shares during the period. Institutional investors 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.