Alexander Paris, an analyst from Barrington, reiterated the Buy rating on Interface (TILE – Research Report). The associated price target remains the same with $30.00.
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Alexander Paris has given his Buy rating due to a combination of factors, including Interface’s recent financial performance and strategic outlook. The company reported a 2.6% increase in net sales for the first quarter, surpassing market expectations, and demonstrated strong pricing power despite challenges such as higher manufacturing and freight costs. Additionally, Interface’s management has expressed confidence in the company’s future performance, raising the lower end of its net sales guidance for the full year and expecting continued order momentum and a healthy backlog.
Furthermore, Interface’s stock is currently trading at a discount compared to its peers, making it an attractive investment opportunity. The stock’s valuation, combined with expectations for continued growth and margin expansion, supports the Buy rating. The company’s strategic initiatives, such as focusing on productivity improvements and automation, are expected to drive further profitability, reinforcing the positive outlook and the reiterated OUTPERFORM rating with a 12-month price target of $30.
Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TILE in relation to earlier this year.