Key Points
- Interface CFO Bruce Andrew Hausmann sold 50,000 shares on May 27 at an average price of $29.66, totaling about $1.48 million. After the sale, he still held 119,256 shares, reducing his ownership by 29.54%.
- Interface reported stronger-than-expected quarterly results on May 8, posting EPS of $0.41 versus $0.33 expected and revenue of $331.04 million versus $320.38 million estimated. Revenue rose 11.3% year over year.
- Analysts remain broadly positive on TILE, with a consensus “Moderate Buy” rating and an average price target of $36.00. The company also announced a quarterly dividend of $0.03 per share, payable June 18.
Interface, Inc. (NASDAQ:TILE - Get Free Report) CFO Bruce Andrew Hausmann sold 50,000 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total value of $1,483,000.00. Following the sale, the chief financial officer owned 119,256 shares in the company, valued at approximately $3,537,132.96. This trade represents a 29.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Interface Stock Performance
NASDAQ:TILE opened at $29.60 on Friday. The stock has a market cap of $1.72 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 0.94 and a beta of 1.92. The company has a current ratio of 2.43, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30. The stock's 50-day moving average is $27.30 and its 200-day moving average is $28.68. Interface, Inc. has a 1-year low of $19.66 and a 1-year high of $35.11.
Interface (NASDAQ:TILE - Get Free Report) last released its quarterly earnings results on Friday, May 8th. The textile maker reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.08. The company had revenue of $331.04 million for the quarter, compared to analysts' expectations of $320.38 million. Interface had a return on equity of 20.09% and a net margin of 8.92%.The business's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 earnings per share. Equities research analysts anticipate that Interface, Inc. will post 2.11 earnings per share for the current year.
Interface Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, June 5th. Interface's payout ratio is currently 5.61%.
Hedge Funds Weigh In On Interface
Institutional investors have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC lifted its stake in Interface by 180.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker's stock valued at $27,000 after buying an additional 631 shares during the period. Larson Financial Group LLC raised its position in shares of Interface by 114.6% during the third quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker's stock worth $34,000 after purchasing an additional 628 shares during the period. EverSource Wealth Advisors LLC acquired a new position in shares of Interface during the second quarter worth approximately $35,000. Wexford Capital LP acquired a new position in shares of Interface during the third quarter worth approximately $43,000. Finally, Blue Trust Inc. raised its position in shares of Interface by 88.3% during the fourth quarter. Blue Trust Inc. now owns 2,199 shares of the textile maker's stock worth $61,000 after purchasing an additional 1,031 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. Benchmark assumed coverage on Interface in a research note on Tuesday, May 19th. They issued a "buy" rating and a $36.00 price objective on the stock. Barrington Research reaffirmed an "outperform" rating and issued a $36.00 price objective on shares of Interface in a research note on Friday, April 17th. Weiss Ratings raised Interface from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, March 20th. Finally, Wall Street Zen raised Interface from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Interface has an average rating of "Moderate Buy" and a consensus target price of $36.00.
Check Out Our Latest Stock Report on Interface
About Interface
(
Get Free Report)
Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface's portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.
Founded in 1973 by Ray C.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
