Interface Inc. (TILE) Trading 2.2% Higher
Interface Inc. (NASDAQ:TILE) shares were up 2.2% during mid-day trading on Wednesday . The stock traded as high as $17.62 and last traded at $17.53, with a volume of 370,814 shares traded. The stock had previously closed at $17.15.
Several research analysts recently issued reports on TILE shares. TheStreet raised Interface from a “hold” rating to a “buy” rating in a research report on Monday, June 20th. Zacks Investment Research raised Interface from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Wednesday, August 3rd. Longbow Research lowered Interface from a “buy” rating to a “neutral” rating in a research report on Thursday, May 5th. Finally, Raymond James Financial Inc. lowered Interface from a “market perform” rating to an “underperform” rating in a research report on Friday, June 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Interface currently has an average rating of “Hold” and an average price target of $20.25.
The firm has a 50-day moving average of $16.58 and a 200-day moving average of $16.84. The firm has a market capitalization of $1.13 billion and a PE ratio of 15.88.
Interface (NASDAQ:TILE) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $248.20 million for the quarter, compared to analysts’ expectations of $256.99 million. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 earnings per share. On average, equities research analysts predict that Interface Inc. will post $1.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be given a dividend of $0.06 per share. This is a positive change from Interface’s previous quarterly dividend of $0.05. The ex-dividend date is Wednesday, August 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.38%.
In related news, insider Raymond S. Willoch sold 23,007 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $17.08, for a total value of $392,959.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stansfield Nigel sold 7,742 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $17.72, for a total transaction of $137,188.24. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Interface stock. Schroder Investment Management Group increased its stake in Interface Inc. (NASDAQ:TILE) by 79.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,948,300 shares of the company’s stock after buying an additional 862,400 shares during the period. Schroder Investment Management Group owned about 2.96% of Interface worth $37,290,000 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.
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