Key Points
- Director Daniel Hendrix sold 4,000 Interface shares at an average price of $34.05, generating $136,200 and reducing his direct ownership by 4.54% to 84,147 shares.
- Interface reported strong quarterly results, with EPS of $0.88 versus the $0.64 consensus and revenue of $395.7 million, up 5.4% year over year.
- Analysts maintain a generally positive view, with the stock carrying a consensus “Buy” rating and a $40.50 price target; the company also pays a quarterly dividend of $0.03 per share.
Interface, Inc. (NASDAQ:TILE - Get Free Report) Director Daniel Hendrix sold 4,000 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $34.05, for a total transaction of $136,200.00. Following the completion of the sale, the director directly owned 84,147 shares of the company's stock, valued at approximately $2,865,205.35. This trade represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Interface Stock Up 2.9%
Shares of TILE stock opened at $35.23 on Wednesday. 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 one year low of $24.40 and a one year high of $40.50. The company's fifty day moving average price is $35.82 and its 200-day moving average price is $31.50. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 0.97 and a beta of 1.92.
Interface (NASDAQ:TILE - Get Free Report) last issued its earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.24. Interface had a net margin of 10.10% and a return on equity of 21.77%. The company had revenue of $395.70 million during the quarter, compared to the consensus estimate of $391.22 million. During the same quarter in the prior year, the firm posted $0.60 EPS. Interface's quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts expect that Interface, Inc. will post 2.36 EPS for the current fiscal year.
Interface Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Friday, September 4th. Interface's dividend payout ratio (DPR) is presently 4.86%.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. Wall Street Zen cut shares of Interface from a "strong-buy" rating to a "buy" rating in a research 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 upped their target price on Interface from $36.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Finally, Weiss Ratings upgraded 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 assigned a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $40.50.
Read Our Latest Stock Analysis on Interface
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TILE. Reynders McVeigh Capital Management LLC increased its position in Interface by 11.4% during the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 489,736 shares of the textile maker's stock valued at $17,552,000 after purchasing an additional 50,054 shares during the period. WINTON GROUP Ltd bought a new position in shares of Interface during the second quarter valued at approximately $888,000. Nykredit A S purchased a new position in Interface during the second quarter valued at approximately $47,000. Corient Private Wealth LP purchased a new stake in Interface during the second quarter worth $319,000. Finally, Amundi boosted its position in Interface by 41.8% during the 2nd quarter. Amundi now owns 13,083 shares of the textile maker's stock valued at $469,000 after acquiring an additional 3,858 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors.
About Interface
(
Get Free Report)
Interface, Inc designs and manufactures modular flooring and interior solutions for commercial and residential spaces. Its product portfolio includes modular carpet tile, broadloom carpet, luxury vinyl tile, resilient flooring and rubber flooring, as well as acoustic products and related accessories. The company markets its offerings under brands that include Interface, FLOR and nora.
Interface serves customers in a range of industries, including corporate offices, hospitality, education, healthcare, retail and government.
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