Interface (NASDAQ:TILE) Lowered to “Hold” Rating by Zacks Research

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

Several other equities analysts also recently issued reports on the company. Wall Street Zen raised Interface from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Benchmark began coverage on Interface in a research note on Tuesday, May 19th. They set a “buy” rating and a $36.00 price target on the stock. Barrington Research reissued an “outperform” rating and issued a $36.00 price objective on shares of Interface in a report on Friday, April 17th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Interface in a research note on Wednesday, June 17th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Interface currently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Interface Stock Down 2.7%

NASDAQ:TILE opened at $33.52 on Tuesday. The company has a current ratio of 2.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30. Interface has a twelve month low of $20.37 and a twelve month high of $36.66. The company has a market cap of $1.95 billion, a PE ratio of 15.66, a P/E/G ratio of 1.09 and a beta of 1.88. The company’s 50 day moving average is $32.26 and its two-hundred day moving average is $30.23.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Friday, May 8th. The textile maker reported $0.41 earnings per share (EPS) for the quarter, topping 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 business had revenue of $331.04 million during the quarter, compared to analysts’ expectations of $320.38 million. During the same quarter last year, the company posted $0.25 earnings per share. The business’s quarterly revenue was up 11.3% on a year-over-year basis. Analysts anticipate that Interface will post 2.11 EPS for the current year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, June 5th. Interface’s dividend payout ratio (DPR) is currently 5.61%.

Insider Transactions at Interface

In other news, VP David B. Foshee sold 44,393 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $29.00, for a total value of $1,287,397.00. Following the sale, the vice president owned 175,014 shares in the company, valued at $5,075,406. This represents a 20.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total value of $1,483,000.00. Following the sale, the chief financial officer directly owned 119,256 shares in the company, valued at approximately $3,537,132.96. This trade represents a 29.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.47% of the company’s stock.

Institutional Investors Weigh In On Interface

Several hedge funds have recently bought and sold shares of TILE. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Interface by 133.9% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker’s stock valued at $56,071,000 after purchasing an additional 1,149,733 shares in the last quarter. UBS Group AG grew its position in Interface by 413.8% during the fourth quarter. UBS Group AG now owns 499,035 shares of the textile maker’s stock valued at $13,933,000 after buying an additional 401,912 shares during the period. Balyasny Asset Management L.P. increased its holdings in Interface by 273.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 386,828 shares of the textile maker’s stock valued at $10,800,000 after buying an additional 283,152 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Interface by 2,333.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker’s stock worth $7,845,000 after acquiring an additional 269,439 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Interface by 107.6% during the 1st quarter. Renaissance Technologies LLC now owns 460,156 shares of the textile maker’s stock worth $11,467,000 after acquiring an additional 238,515 shares in 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.