Key Points
- Interface VP David Foshee sold 28,451 shares at an average price of $35.99, generating approximately $1.02 million. His remaining stake fell 16.26% to 146,563 shares.
- Interface reported quarterly EPS of $0.88, beating estimates by $0.24, while revenue rose 5.4% year over year to $395.7 million. The company also maintains a quarterly dividend of $0.03 per share.
- Analysts remain broadly positive, with the stock carrying a consensus “Buy” rating and a $40.50 target price; institutional investors and hedge funds own 98.34% of outstanding shares.
Interface, Inc. (NASDAQ:TILE - Get Free Report) VP David Foshee sold 28,451 shares of the business's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $35.99, for a total value of $1,023,951.49. Following the transaction, the vice president owned 146,563 shares in the company, valued at approximately $5,274,802.37. This represents a 16.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Interface Price Performance
Shares of NASDAQ TILE opened at $33.85 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.53 and a quick ratio of 1.35. Interface, Inc. has a 1-year low of $24.40 and a 1-year high of $40.50. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.97 and a beta of 1.92. The business has a 50-day moving average of $35.66 and a 200-day moving average of $31.30.
Interface (NASDAQ:TILE - Get Free Report) last announced its 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 business had revenue of $395.70 million for the quarter, compared to the consensus estimate of $391.22 million. Interface had a return on equity of 21.77% and a net margin of 10.10%.The company's revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. On average, equities analysts anticipate that Interface, Inc. will post 2.36 EPS for the current fiscal year.
Interface Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be given a $0.03 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.12 annualized dividend and a yield of 0.4%. Interface's dividend payout ratio (DPR) is 4.86%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. Benchmark began coverage on shares of Interface in a research report on Tuesday, May 19th. They set a "buy" rating and a $36.00 target price on the stock. Wall Street Zen lowered shares of Interface from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. Zacks Research raised shares of Interface from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 26th. Barrington Research boosted their price objective on shares of Interface from $36.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Finally, Weiss Ratings raised shares of Interface from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $40.50.
Check Out Our Latest Analysis on TILE
Hedge Funds Weigh In On Interface
Hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC raised its position in shares of Interface by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 11,282 shares of the textile maker's stock worth $315,000 after purchasing an additional 349 shares during the period. Larson Financial Group LLC boosted its position in shares of Interface by 30.8% in the 4th quarter. Larson Financial Group LLC now owns 1,538 shares of the textile maker's stock valued at $43,000 after purchasing an additional 362 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of Interface by 0.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 58,483 shares of the textile maker's stock valued at $1,560,000 after purchasing an additional 403 shares during the period. HB Wealth Management LLC increased its stake in Interface by 1.0% in the 2nd quarter. HB Wealth Management LLC now owns 40,804 shares of the textile maker's stock worth $1,462,000 after purchasing an additional 418 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Interface by 2.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,953 shares of the textile maker's stock worth $722,000 after purchasing an additional 495 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.
Interface Company Profile
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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.
Further Reading
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