Interface (NASDAQ:TILE) Now Covered by Barrington Research

Barrington Research started coverage on shares of Interface (NASDAQ:TILE) in a research note published on Monday morning, Marketbeat reports. The brokerage issued an outperform rating and a $20.00 price target on the textile maker’s stock. Barrington Research also issued estimates for Interface’s Q1 2024 earnings at $0.14 EPS, Q2 2024 earnings at $0.32 EPS, Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.32 EPS, FY2024 earnings at $1.08 EPS and FY2025 earnings at $1.30 EPS.

A number of other brokerages also recently issued reports on TILE. TheStreet upgraded shares of Interface from a c rating to a b- rating in a research note on Tuesday, February 27th. Truist Financial increased their price objective on shares of Interface from $10.00 to $14.00 and gave the stock a hold rating in a research note on Wednesday, February 28th.

Interface Price Performance

NASDAQ:TILE opened at $14.88 on Monday. Interface has a 52 week low of $6.51 and a 52 week high of $18.47. The firm has a market cap of $866.02 million, a price-to-earnings ratio of 19.58 and a beta of 1.98. The firm’s 50-day simple moving average is $15.28 and its 200 day simple moving average is $12.42. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.42 and a current ratio of 2.72.

Interface (NASDAQ:TILE) last announced its quarterly earnings data on Tuesday, February 27th. The textile maker reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.19. The firm had revenue of $325.10 million for the quarter, compared to the consensus estimate of $320.16 million. Interface had a net margin of 3.53% and a return on equity of 14.95%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. As a group, sell-side analysts predict that Interface will post 1.02 earnings per share for the current year.

Interface Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. Interface’s payout ratio is currently 5.26%.

Institutional Investors Weigh In On Interface

A number of hedge funds have recently made changes to their positions in TILE. Pzena Investment Management LLC boosted its stake in shares of Interface by 65.2% in the 3rd quarter. Pzena Investment Management LLC now owns 3,614,372 shares of the textile maker’s stock valued at $35,457,000 after purchasing an additional 1,426,749 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Interface by 112.4% in the 4th quarter. Pacer Advisors Inc. now owns 2,432,561 shares of the textile maker’s stock valued at $30,699,000 after buying an additional 1,287,420 shares during the last quarter. Meros Investment Management LP raised its holdings in Interface by 53.1% in the 4th quarter. Meros Investment Management LP now owns 797,379 shares of the textile maker’s stock valued at $7,870,000 after buying an additional 276,707 shares during the last quarter. AQR Capital Management LLC raised its holdings in Interface by 200.0% in the 1st quarter. AQR Capital Management LLC now owns 357,413 shares of the textile maker’s stock valued at $2,902,000 after buying an additional 238,282 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Interface by 18.4% in the 1st quarter. Invesco Ltd. now owns 1,378,806 shares of the textile maker’s stock valued at $18,711,000 after buying an additional 214,547 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.