Key Points
- Director Daniel Hendrix sold 8,000 Interface shares at an average price of $37.13, generating $297,040. After the transaction, he retained 88,147 shares; the sale was conducted under a Rule 10b5-1 trading plan.
- Interface reported quarterly EPS of $0.88, beating estimates of $0.64, while revenue rose 5.4% year over year to $395.7 million. Analysts forecast full-year EPS of $2.36.
- The company declared a quarterly dividend of $0.03 per share, equal to a $0.12 annualized payout and a 0.3% yield. Analysts maintain a consensus “Buy” rating with a $40.50 price target.
Interface, Inc. (NASDAQ:TILE - Get Free Report) Director Daniel Hendrix sold 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $37.13, for a total transaction of $297,040.00. Following the transaction, the director directly owned 88,147 shares of the company's stock, valued at $3,272,898.11. This represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Interface Price Performance
NASDAQ:TILE opened at $37.24 on Friday. Interface, Inc. has a 52-week low of $24.40 and a 52-week high of $40.50. The company has a market cap of $2.16 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.03 and a beta of 1.92. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.35 and a current ratio of 2.53. The stock's 50-day simple moving average is $35.71 and its 200 day simple moving average is $31.26.
Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The textile maker reported $0.88 EPS for the quarter, beating the consensus estimate of $0.64 by $0.24. The firm had revenue of $395.70 million during the quarter, compared to analysts' expectations of $391.22 million. Interface had a return on equity of 21.77% and a net margin of 10.10%.The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. As a group, sell-side analysts forecast that Interface, Inc. will post 2.36 EPS for the current fiscal year.
Interface Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Interface's dividend payout ratio is presently 4.86%.
Wall Street Analyst Weigh In
TILE has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Interface from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 15th. Barrington Research lifted their price target on shares of Interface from $36.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Benchmark started coverage on Interface in a research note on Tuesday, May 19th. They issued a "buy" rating and a $36.00 price target for the company. Weiss Ratings raised shares of Interface from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 12th. Finally, Zacks Research raised shares of Interface from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $40.50.
Read Our Latest Analysis on Interface
Institutional Investors Weigh In On Interface
A number of hedge funds have recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC increased its stake in shares of Interface by 180.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker's stock valued at $27,000 after acquiring an additional 631 shares in the last quarter. Larson Financial Group LLC increased its position in Interface by 114.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker's stock valued at $34,000 after buying an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in Interface in the 2nd quarter valued at about $35,000. Allworth Financial LP acquired a new position in Interface during the 2nd quarter worth approximately $36,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Interface during the 2nd quarter worth approximately $39,000. 98.34% of the stock is currently owned by institutional investors.
Interface Company Profile
(
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.
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