Interface Inc. (TILE) Stock Price Down 3.9%
Interface Inc. (NASDAQ:TILE)’s share price fell 3.9% during trading on Tuesday . The company traded as low as $16.30 and last traded at $16.31, with a volume of 197,867 shares. The stock had previously closed at $16.97.
A number of brokerages have recently commented on TILE. Zacks Investment Research lowered shares of Interface from a “hold” rating to a “sell” rating in a report on Thursday, June 16th. TheStreet upgraded shares of Interface from a “hold” rating to a “buy” rating in a report on Monday, June 20th. Finally, Raymond James Financial Inc. lowered shares of Interface from a “market perform” rating to an “underperform” rating in a report on Friday, June 24th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Interface currently has a consensus rating of “Hold” and an average target price of $20.25.
The stock’s 50-day moving average is $17.17 and its 200-day moving average is $16.98. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 14.76 and a beta of 1.35.
Interface (NASDAQ:TILE) last posted its earnings results on Wednesday, July 27th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.03. Interface had a net margin of 7.40% and a return on equity of 20.70%. The business had revenue of $248.20 million for the quarter, compared to analysts’ expectations of $256.99 million. During the same period in the prior year, the company posted $0.33 EPS. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities research analysts expect that Interface Inc. will post $1.16 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were paid a $0.06 dividend. The ex-dividend date was Wednesday, August 10th. This is a boost from Interface’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.49%. Interface’s dividend payout ratio is currently 21.62%.
In related news, COO Jay Gould purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 29th. The shares were purchased at an average price of $14.76 per share, with a total value of $147,600.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Daniel T. Hendrix sold 3,000 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $17.70, for a total transaction of $53,100.00. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of TILE. Macquarie Group Ltd. bought a new position in shares of Interface during the second quarter worth approximately $1,888,000. Mason Street Advisors LLC bought a new position in shares of Interface during the second quarter worth approximately $195,000. Front Street Capital Management Inc. bought a new position in shares of Interface during the second quarter worth approximately $447,000. Wedge Capital Management L L P NC bought a new position in shares of Interface during the second quarter worth approximately $11,073,000. Finally, Walthausen & Co. LLC bought a new position in shares of Interface during the second quarter worth approximately $6,591,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.
Interface Company Profile
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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