Interface Inc. (TILE) Trading Up 3%
Interface Inc. (NASDAQ:TILE)’s share price was up 3% during mid-day trading on Thursday . The company traded as high as $17.21 and last traded at $17.13, with a volume of 1,078,157 shares traded. The stock had previously closed at $16.63.
A number of equities analysts have issued reports on TILE shares. Raymond James Financial Inc. cut Interface from a “market perform” rating to an “underperform” rating in a report on Friday, June 24th. Zacks Investment Research upgraded Interface from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Wednesday, August 3rd. TheStreet upgraded Interface from a “hold” rating to a “buy” rating in a report on Monday, June 20th. Longbow Research cut Interface from a “buy” rating to a “neutral” rating in a report on Thursday, May 5th. Finally, Stifel Nicolaus cut Interface from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Interface has an average rating of “Hold” and an average target price of $20.25.
The stock has a market cap of $1.11 billion and a P/E ratio of 15.62. The stock has a 50-day moving average price of $16.29 and a 200 day moving average price of $16.82.
Interface (NASDAQ:TILE) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.03. During the same quarter in the previous year, the firm posted $0.33 EPS. The company earned $248.20 million during the quarter, compared to the consensus estimate of $256.99 million. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, equities analysts predict that Interface Inc. will post $1.15 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $0.24 annualized dividend and a yield of 1.40%. This is a positive change from Interface’s previous quarterly dividend of $0.05.
In related news, COO Jay Gould acquired 10,000 shares of the stock in a transaction on Wednesday, June 29th. The stock was purchased at an average price of $14.76 per share, for a total transaction of $147,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel T. Hendrix sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $17.10, for a total value of $51,300.00. Following the completion of the sale, the chief executive officer now owns 262,882 shares of the company’s stock, valued at approximately $4,495,282.20. The disclosure for this sale can be found here.
Other hedge funds recently made changes to their positions in the company. New York State Common Retirement Fund increased its stake in shares of Interface by 4.0% in the fourth quarter. New York State Common Retirement Fund now owns 65,000 shares of the company’s stock valued at $1,244,000 after buying an additional 2,500 shares during the last quarter. Principal Financial Group Inc. boosted its position in Interface by 25.6% in the fourth quarter. Principal Financial Group Inc. now owns 1,207,295 shares of the company’s stock valued at $23,107,000 after buying an additional 245,698 shares during the period. RS Investment Management Co. LLC acquired a new position in Interface during the fourth quarter valued at about $29,186,000. Finally, Schroder Investment Management Group boosted its position in Interface by 79.4% in the fourth quarter. Schroder Investment Management Group now owns 1,948,300 shares of the company’s stock valued at $37,290,000 after buying an additional 862,400 shares during the period.
Interface Inc is engaged in design, production and sales of modular carpet, also known as carpet tile across the world. The Company markets its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company distributes its product through approximately two primary channels, including direct sales to end users and indirect sales through independent contractors or distributors.
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