Interface (TILE) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Interface (NASDAQ:TILE) from a sell rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.

According to Zacks, “Interface, Inc. is the world’s largest manufacturer of modular carpet, which it markets under the Interface and FLOR brands. The Company is committed to the goal of sustainability and doing business in ways that minimize the impact on the environment while enhancing shareholder value. Interface is the world’s largest manufacturer of modular carpet. Their heritage began with the invention of the first carpet tile approximately 50 years ago by a Dutch company called Heuga, now part of InterfaceFLOR. From that spark of invention, they have continued to innovate, giving the award-winning modular carpet design, pioneering environmental practices and ground-breaking manufacturing technology. Their products are designed for a wide range of commercial environments including corporate, healthcare, education, retail, hospitality and government. We continue to lead the industry in environmental achievement and the exploration of environmentally efficient products and processes. “

TILE has been the subject of a number of other reports. BidaskClub upgraded Interface from a strong sell rating to a sell rating in a report on Friday, April 5th. Nomura cut their price objective on Interface from $26.00 to $24.00 and set a buy rating for the company in a report on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $25.00.

Shares of NASDAQ TILE opened at $16.93 on Thursday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 11.36 and a beta of 1.57. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.34 and a current ratio of 2.50. Interface has a twelve month low of $13.45 and a twelve month high of $26.10.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Tuesday, February 19th. The textile maker reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Interface had a return on equity of 25.66% and a net margin of 4.26%. The firm had revenue of $337.06 million during the quarter, compared to analysts’ expectations of $344.65 million. During the same period in the prior year, the business earned $0.32 EPS. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. Research analysts forecast that Interface will post 1.64 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Thursday, March 7th. Interface’s payout ratio is currently 17.45%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Isthmus Partners LLC boosted its holdings in shares of Interface by 111.0% in the 1st quarter. Isthmus Partners LLC now owns 131,726 shares of the textile maker’s stock worth $7,074,000 after purchasing an additional 69,284 shares in the last quarter. Deprince Race & Zollo Inc. boosted its holdings in Interface by 21.1% during the 1st quarter. Deprince Race & Zollo Inc. now owns 1,226,451 shares of the textile maker’s stock valued at $18,789,000 after acquiring an additional 213,540 shares during the period. Cahaba Wealth Management Inc. purchased a new stake in Interface during the 1st quarter valued at about $193,000. Deutsche Bank AG boosted its holdings in Interface by 76.0% during the 4th quarter. Deutsche Bank AG now owns 364,419 shares of the textile maker’s stock valued at $5,190,000 after acquiring an additional 157,319 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Interface by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 708,894 shares of the textile maker’s stock valued at $10,101,000 after acquiring an additional 5,498 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Interface Company Profile

Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brands; and luxury vinyl tile products.

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