Interface Inc. (TILE) Stock Price Up 2.2%
Interface Inc. (NASDAQ:TILE) traded up 2.2% during trading on Wednesday . The stock traded as high as $17.62 and last traded at $17.53, with a volume of 370,814 shares changing hands. The stock had previously closed at $17.15.
Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Interface from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Stifel Nicolaus downgraded shares of Interface from a “buy” rating to a “hold” rating in a research report on Wednesday, April 27th. TheStreet raised shares of Interface from a “hold” rating to a “buy” rating in a research report on Tuesday, April 26th. Longbow Research downgraded shares of Interface from a “buy” rating to a “neutral” rating in a research report on Thursday, May 5th. Finally, Raymond James Financial Inc. downgraded shares of Interface from a “market perform” rating to an “underperform” rating in a research report on Friday, June 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.25.
The stock has a market cap of $1.13 billion and a PE ratio of 15.91. The stock has a 50-day moving average price of $16.47 and a 200 day moving average price of $16.84.
Interface (NASDAQ:TILE) last announced its earnings results on Wednesday, July 27th. The company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.03. The company had revenue of $248.20 million for the quarter, compared to analysts’ expectations of $256.99 million. During the same period last year, the business earned $0.33 EPS. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, analysts forecast that Interface Inc. will post $1.15 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be paid a dividend of $0.06 per share. 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. The ex-dividend date is Wednesday, August 10th.
In other Interface news, COO Jay Gould purchased 10,000 shares of Interface stock in a transaction dated Wednesday, June 29th. The shares were acquired at an average price of $14.76 per share, with a total value of $147,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Daniel T. Hendrix sold 3,000 shares of the stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $16.00, for a total transaction of $48,000.00. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Interface stock. RS Investment Management Co. LLC bought a new stake in shares of Interface Inc. (NASDAQ:TILE) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm bought 1,524,860 shares of the company’s stock, valued at approximately $29,186,000. RS Investment Management Co. LLC owned 2.32% of Interface as of its most recent SEC filing.
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.