Interface (NASDAQ:TILE) Price Target Raised to $22.00 at Barrington Research

Interface (NASDAQ:TILE) had its target price increased by Barrington Research from $20.00 to $22.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the textile maker’s stock.

TILE has been the subject of several other research reports. TheStreet upgraded shares of Interface from a c rating to a b- rating in a research note on Tuesday, February 27th. Truist Financial raised their target price on Interface from $10.00 to $14.00 and gave the stock a hold rating in a research report on Wednesday, February 28th.

Interface Stock Performance

Interface stock traded up $1.53 during mid-day trading on Friday, reaching $17.39. 794,399 shares of the company’s stock were exchanged, compared to its average volume of 477,769. The business’s fifty day simple moving average is $15.85 and its 200 day simple moving average is $12.91. The company has a quick ratio of 1.42, a current ratio of 2.72 and a debt-to-equity ratio of 0.96. Interface has a one year low of $6.51 and a one year high of $18.47. The firm has a market capitalization of $1.01 billion, a PE ratio of 22.88, a P/E/G ratio of 1.01 and a beta of 1.99.

Interface (NASDAQ:TILE) last released its earnings results on Friday, May 3rd. The textile maker reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.12. The company had revenue of $289.70 million for the quarter, compared to analysts’ expectations of $284.76 million. Interface had a return on equity of 14.95% and a net margin of 3.53%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.07 EPS. On average, sell-side analysts expect that Interface will post 1.05 earnings per share for the current year.

Interface Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Friday, March 29th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Wednesday, March 27th. Interface’s payout ratio is currently 5.26%.

Institutional Investors Weigh In On Interface

A number of hedge funds and other institutional investors have recently bought and sold shares of TILE. SG Americas Securities LLC purchased a new position in shares of Interface in the third quarter valued at $325,000. Independent Advisor Alliance boosted its stake in Interface by 3.8% in the 3rd quarter. Independent Advisor Alliance now owns 67,510 shares of the textile maker’s stock worth $662,000 after purchasing an additional 2,476 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Interface by 86.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,235 shares of the textile maker’s stock valued at $149,000 after buying an additional 7,052 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Interface by 24.2% during the third quarter. Panagora Asset Management Inc. now owns 226,659 shares of the textile maker’s stock valued at $2,224,000 after buying an additional 44,186 shares during the period. Finally, Olympiad Research LP purchased a new stake in shares of Interface in the third quarter worth about $141,000. 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.