Interface (NASDAQ:TILE) Upgraded to “Buy” by Longbow Research

Interface (NASDAQ:TILE – Get Rating) was upgraded by stock analysts at Longbow Research from a “neutral” rating to a “buy” rating in a report released on Wednesday, Marketbeat reports. The firm presently has a $18.00 price target on the textile maker’s stock. Longbow Research’s target price would indicate a potential upside of 88.88% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Truist Financial lowered shares of Interface from a “buy” rating to a “hold” rating and lowered their price objective for the company from $13.00 to $9.00 in a research note on Wednesday, February 22nd. StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 8th.

Interface Price Performance

TILE opened at $9.53 on Wednesday. Interface has a twelve month low of $8.43 and a twelve month high of $15.05. The firm has a market cap of $554.36 million, a price-to-earnings ratio of 29.78 and a beta of 1.90. The company has a current ratio of 2.80, a quick ratio of 1.19 and a debt-to-equity ratio of 1.41. The company has a fifty day simple moving average of $10.60 and a 200 day simple moving average of $10.66.

Interface (NASDAQ:TILE – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The textile maker reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.07. The business had revenue of $335.60 million during the quarter, compared to the consensus estimate of $333.65 million. Interface had a return on equity of 21.06% and a net margin of 1.51%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. Equities research analysts expect that Interface will post 0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Interface

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lazard Asset Management LLC bought a new stake in Interface during the 4th quarter worth about $61,000. Schonfeld Strategic Advisors LLC acquired a new stake in Interface in the fourth quarter worth $161,000. Legal & General Group Plc raised its stake in Interface by 0.8% during the 4th quarter. Legal & General Group Plc now owns 145,065 shares of the textile maker’s stock worth $1,432,000 after buying an additional 1,084 shares during the period. Millennium Management LLC lifted its holdings in shares of Interface by 14.7% during the 4th quarter. Millennium Management LLC now owns 101,094 shares of the textile maker’s stock valued at $998,000 after purchasing an additional 12,981 shares in the last quarter. Finally, Meros Investment Management LP lifted its stake in Interface by 53.1% in the fourth 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 in the last quarter. Institutional investors own 90.45% of the company’s stock.

About Interface

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Interface, Inc is a flooring company, which offers carpet tile & resilient flooring, including luxury vinyl tile and rubber flooring products. The firm designs, manufactures and sells modular carpet, manufactured for the commercial and institutional markets under the interface brand, and for consumer markets as FLOR modular carpets.