Interface Inc. (TILE) Stock Price Down 1.1%
Interface Inc. (NASDAQ:TILE) shares were down 1.1% during trading on Monday . The stock traded as low as $16.40 and last traded at $16.46, with a volume of 657,727 shares traded. The stock had previously closed at $16.65.
Several research analysts have commented on TILE shares. Raymond James Financial Inc. downgraded Interface from a “market perform” rating to an “underperform” rating in a report on Friday, June 24th. Zacks Investment Research raised Interface from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Wednesday, August 3rd. TheStreet raised Interface from a “hold” rating to a “buy” rating in a research note on Monday, June 20th. Longbow Research downgraded Interface from a “buy” rating to a “neutral” rating in a research note on Thursday, May 5th. Finally, Stifel Nicolaus downgraded Interface from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. 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. Interface has a consensus rating of “Hold” and an average target price of $20.25.
The stock has a market cap of $1.08 billion and a price-to-earnings ratio of 15.25. The firm has a 50-day moving average price of $16.18 and a 200-day moving average price of $16.82.
Interface (NASDAQ:TILE) last announced its earnings results on Wednesday, July 27th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The business had revenue of $248.20 million for the quarter, compared to analysts’ expectations of $256.99 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, analysts anticipate that Interface Inc. will post $1.15 earnings per share for the current year.
The firm also recently announced 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 represents a $0.24 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Wednesday, August 10th. This is a positive change from Interface’s previous quarterly dividend of $0.05.
In other Interface news, COO Jay Gould bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 29th. The shares were purchased at an average cost of $14.76 per share, for a total transaction of $147,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Daniel T. Hendrix sold 3,000 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $17.10, for a total transaction of $51,300.00. Following the sale, the chief executive officer now owns 262,882 shares in the company, valued at $4,495,282.20. The disclosure for this sale can be found here.
Other hedge funds have made changes to their positions in the company. New York State Common Retirement Fund boosted 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 in the last quarter. Principal Financial Group Inc. boosted its stake in shares of 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 in the last quarter. RS Investment Management Co. LLC purchased a new position in shares of Interface during the fourth quarter valued at approximately $29,186,000. Finally, Schroder Investment Management Group increased its position in shares of 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 last quarter.
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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