Interface Inc. (TILE) Shares Down 1.1%
Interface Inc. (NASDAQ:TILE) shares dropped 1.1% 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.
TILE has been the topic of several research analyst reports. Stifel Nicolaus cut shares of Interface from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Zacks Investment Research raised Interface from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. TheStreet raised Interface from a “hold” rating to a “buy” rating in a research note on Tuesday, April 26th. Longbow Research cut Interface from a “buy” rating to a “neutral” rating in a research note on Thursday, May 5th. Finally, Raymond James Financial Inc. cut Interface from a “market perform” rating to an “underperform” rating in a research note on Friday, June 24th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Interface presently has an average rating of “Hold” and an average price target of $20.25.
The stock has a market cap of $1.07 billion and a price-to-earnings ratio of 15.12. The company’s 50-day moving average price is $16.23 and its 200-day moving average price is $16.82.
Interface (NASDAQ:TILE) last issued its quarterly 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. During the same quarter in the prior year, the business earned $0.33 EPS. The business had revenue of $248.20 million for the quarter, compared to analysts’ expectations of $256.99 million. The company’s revenue was down 5.8% compared to the same quarter last year. Equities analysts forecast that Interface Inc. will post $1.15 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Stockholders 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 dividend yield of 1.45%. 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 news, insider Patrick C. Lynch sold 4,500 shares of Interface stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $18.00, for a total transaction of $81,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Daniel T. Hendrix sold 3,000 shares of Interface stock in a transaction on Monday, June 6th. The stock was sold at an average price of $17.10, for a total transaction of $51,300.00. Following the transaction, the chief executive officer now owns 262,882 shares in the company, valued at approximately $4,495,282.20. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have modified their holdings of the company. RS Investment Management Co. LLC acquired a new position in shares of Interface during the fourth quarter valued at $29,186,000. Schroder Investment Management Group boosted 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 in the last quarter. Principal Financial Group Inc. boosted its position 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. Finally, New York State Common Retirement Fund boosted its position 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.
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.