Barrington Research Issues Positive Forecast for Interface (NASDAQ:TILE) Stock Price

Interface (NASDAQ:TILE - Get Free Report) had its target price upped by equities researchers at Barrington Research from $22.00 to $26.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an "outperform" rating on the textile maker's stock. Barrington Research's target price indicates a potential upside of 11.88% from the company's previous close.

Separately, StockNews.com raised shares of Interface from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, August 6th.

Interface Trading Up 33.0 %

Shares of NASDAQ:TILE traded up $5.77 during trading on Friday, reaching $23.24. The company's stock had a trading volume of 2,159,540 shares, compared to its average volume of 448,941. The firm's 50 day simple moving average is $18.55 and its two-hundred day simple moving average is $16.75. The company has a current ratio of 2.76, a quick ratio of 1.45 and a debt-to-equity ratio of 0.84. Interface has a 12 month low of $9.04 and a 12 month high of $23.46. The stock has a market capitalization of $1.35 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 0.93 and a beta of 1.97.

Interface (NASDAQ:TILE - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.14. The business had revenue of $344.30 million during the quarter, compared to analyst estimates of $336.39 million. Interface had a return on equity of 18.42% and a net margin of 5.20%. The company's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company earned $0.28 EPS. On average, research analysts predict that Interface will post 1.28 EPS for the current fiscal year.

Insider Activity at Interface

In other news, VP Stansfield Nigel sold 17,500 shares of Interface stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $16.44, for a total transaction of $287,700.00. Following the completion of the sale, the vice president now directly owns 164,355 shares in the company, valued at approximately $2,701,996.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Interface news, Director Daniel T. Hendrix sold 3,555 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $17.53, for a total transaction of $62,319.15. Following the transaction, the director now directly owns 191,147 shares in the company, valued at $3,350,806.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Stansfield Nigel sold 17,500 shares of Interface stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $16.44, for a total value of $287,700.00. Following the sale, the vice president now directly owns 164,355 shares of the company's stock, valued at approximately $2,701,996.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,458 shares of company stock worth $1,339,433 in the last quarter. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Interface

Institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in Interface during the 1st quarter worth about $57,000. Central Pacific Bank Trust Division bought a new position in shares of Interface during the first quarter valued at approximately $312,000. Texas Permanent School Fund Corp increased its holdings in Interface by 8.0% during the first quarter. Texas Permanent School Fund Corp now owns 50,855 shares of the textile maker's stock valued at $855,000 after buying an additional 3,771 shares during the period. SG Americas Securities LLC bought a new position in Interface in the first quarter worth approximately $110,000. Finally, Illinois Municipal Retirement Fund lifted its holdings in Interface by 6.4% during the first quarter. Illinois Municipal Retirement Fund now owns 35,129 shares of the textile maker's stock worth $591,000 after buying an additional 2,127 shares during the period. Hedge funds and other 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.