Interface (TILE) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Interface (NASDAQ:TILE) from a sell rating to a hold rating in a research report released on Friday.

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. “

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Several other research firms have also recently weighed in on TILE. BidaskClub raised Interface from a strong sell rating to a sell rating in a report on Tuesday, December 18th. Nomura lowered their price target on Interface from $26.00 to $24.00 and set a buy rating on the stock in a report on Monday, January 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $25.00.

TILE traded up $0.25 during trading on Friday, reaching $18.00. 247,678 shares of the company were exchanged, compared to its average volume of 338,958. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 12.08 and a beta of 1.50. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.35 and a current ratio of 2.50. Interface has a 12-month low of $13.45 and a 12-month high of $26.10.

Interface (NASDAQ:TILE) last issued 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 business had revenue of $337.06 million for the quarter, compared to analysts’ expectations of $344.65 million. During the same quarter in the prior year, the firm posted $0.32 EPS. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. On average, research analysts forecast that Interface will post 1.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 8th will be paid a dividend of $0.065 per share. The ex-dividend date is Thursday, March 7th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.44%. Interface’s payout ratio is currently 17.45%.

Several large investors have recently bought and sold shares of TILE. Aperio Group LLC grew its position in shares of Interface by 14.5% during the 3rd quarter. Aperio Group LLC now owns 82,199 shares of the textile maker’s stock valued at $1,919,000 after acquiring an additional 10,433 shares during the period. First Trust Advisors LP grew its position in shares of Interface by 163.5% during the 3rd quarter. First Trust Advisors LP now owns 51,782 shares of the textile maker’s stock valued at $1,209,000 after acquiring an additional 32,127 shares during the period. Russell Investments Group Ltd. grew its position in shares of Interface by 83.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 553,442 shares of the textile maker’s stock valued at $12,921,000 after acquiring an additional 250,951 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Interface during the 3rd quarter valued at about $236,000. Finally, Victory Capital Management Inc. grew its position in shares of Interface by 44.2% during the 3rd quarter. Victory Capital Management Inc. now owns 22,645 shares of the textile maker’s stock valued at $529,000 after acquiring an additional 6,938 shares during the period. Hedge funds and other institutional investors own 92.43% of the company’s stock.

About Interface

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; and luxury vinyl tile products.

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