Barrington Research Forecasts Strong Price Appreciation for Interface (NASDAQ:TILE) Stock

Interface (NASDAQ:TILE) had its price target hoisted by stock analysts at Barrington Research from $26.00 to $30.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the textile maker’s stock. Barrington Research’s price target would suggest a potential upside of 13.94% from the company’s previous close.

Separately, StockNews.com cut shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th.

Interface Trading Down 0.3 %

NASDAQ:TILE opened at $26.33 on Wednesday. The stock’s fifty day moving average price is $22.83 and its two-hundred day moving average price is $18.82. The company has a market cap of $1.54 billion, a P/E ratio of 18.41, a P/E/G ratio of 1.29 and a beta of 2.09. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. Interface has a 1 year low of $11.00 and a 1 year high of $27.34.

Interface (NASDAQ:TILE) last announced its earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.14. Interface had a return on equity of 19.91% and a net margin of 6.49%. The firm had revenue of $344.30 million during the quarter, compared to analyst estimates of $336.39 million. During the same quarter in the prior year, the company earned $0.28 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. As a group, analysts expect that Interface will post 1.37 EPS for the current year.

Insider Buying and Selling at Interface

In other Interface news, VP Stansfield Nigel sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total value of $482,400.00. Following the transaction, the vice president now owns 144,355 shares in the company, valued at $3,481,842.60. The trade was a 12.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel T. Hendrix sold 18,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $26.33, for a total transaction of $473,940.00. Following the transaction, the director now directly owns 153,147 shares in the company, valued at $4,032,360.51. The trade was a 10.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,175 shares of company stock worth $2,119,987. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Interface

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TILE. Franklin Resources Inc. lifted its holdings in Interface by 3.7% during the 3rd quarter. Franklin Resources Inc. now owns 89,576 shares of the textile maker’s stock valued at $1,735,000 after purchasing an additional 3,202 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Interface during the 3rd quarter worth about $1,661,000. Geode Capital Management LLC boosted its holdings in shares of Interface by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,371,976 shares of the textile maker’s stock worth $26,031,000 after acquiring an additional 11,931 shares during the period. Barclays PLC raised its stake in Interface by 688.5% in the third quarter. Barclays PLC now owns 256,987 shares of the textile maker’s stock valued at $4,873,000 after purchasing an additional 224,395 shares in the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in shares of Interface during the third quarter worth $301,000. Institutional investors and hedge funds 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.