Interface (NASDAQ:TILE) Earns Buy Rating from Analysts at Benchmark

Benchmark began coverage on shares of Interface (NASDAQ:TILE) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $36.00 price target on the textile maker’s stock. Benchmark’s price target indicates a potential upside of 26.23% from the company’s previous close.

Several other brokerages also recently weighed in on TILE. Wall Street Zen raised Interface from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Barrington Research restated an “outperform” rating and issued a $36.00 price target on shares of Interface in a report on Friday, April 17th. Finally, Weiss Ratings upgraded shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 20th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Interface presently has an average rating of “Moderate Buy” and an average price target of $36.00.

Interface Stock Up 1.7%

TILE opened at $28.52 on Tuesday. Interface has a 1 year low of $18.74 and a 1 year high of $35.11. The firm has a 50 day moving average price of $27.01 and a 200 day moving average price of $28.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 2.43. The company has a market cap of $1.65 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.89 and a beta of 1.92.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Friday, May 8th. The textile maker reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.08. Interface had a net margin of 8.92% and a return on equity of 20.09%. The firm had revenue of $331.04 million for the quarter, compared to analysts’ expectations of $320.38 million. During the same period in the previous year, the company posted $0.25 earnings per share. Interface’s revenue was up 11.3% compared to the same quarter last year. Sell-side analysts expect that Interface will post 2.11 earnings per share for the current year.

Insiders Place Their Bets

In other Interface news, VP James Poppens sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $28.05, for a total transaction of $224,400.00. Following the completion of the sale, the vice president owned 103,846 shares in the company, valued at $2,912,880.30. This trade represents a 7.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 25,650 shares of company stock worth $736,292. 2.47% of the stock is owned by company insiders.

Institutional Trading of Interface

A number of hedge funds have recently made changes to their positions in the stock. Congress Asset Management Co. grew its holdings in Interface by 3.3% during the 4th quarter. Congress Asset Management Co. now owns 2,629,174 shares of the textile maker’s stock worth $73,407,000 after acquiring an additional 84,793 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Interface by 5.5% in the 3rd quarter. American Century Companies Inc. now owns 2,412,549 shares of the textile maker’s stock valued at $69,819,000 after purchasing an additional 126,263 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Interface by 43.4% during the third quarter. JPMorgan Chase & Co. now owns 289,092 shares of the textile maker’s stock worth $8,366,000 after purchasing an additional 87,462 shares during the last quarter. SummerHaven Investment Management LLC acquired a new position in Interface in the third quarter worth about $1,102,000. Finally, Clark Capital Management Group Inc. increased its holdings in Interface by 67.9% in the third quarter. Clark Capital Management Group Inc. now owns 623,295 shares of the textile maker’s stock valued at $18,038,000 after buying an additional 252,157 shares during the last quarter. Institutional investors and hedge funds 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.