Key Points
- CEO Laurel Hurd sold 7,000 Interface shares at an average price of $34.99, generating $244,930; she retained 499,978 shares worth approximately $17.5 million.
- 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 maintain a favorable outlook, with a consensus “Buy” rating and an average price target of $40.50; the company also pays a quarterly dividend of $0.03 per share.
Interface, Inc. (NASDAQ:TILE - Get Free Report) CEO Laurel Hurd sold 7,000 shares of Interface stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $34.99, for a total value of $244,930.00. Following the sale, the chief executive officer directly owned 499,978 shares in the company, valued at $17,494,230.22. The trade was a 1.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Laurel Hurd also recently made the following trade(s):
- On Monday, August 24th, Laurel Hurd sold 7,000 shares of Interface stock. The stock was sold at an average price of $39.09, for a total value of $273,630.00.
Interface Trading Up 0.0%
NASDAQ:TILE opened at $35.20 on Friday. Interface, Inc. has a 1 year low of $24.40 and a 1 year high of $40.50. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 0.99 and a beta of 1.92. The business has a fifty day moving average of $35.92 and a 200-day moving average of $31.63. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.35 and a current ratio of 2.53.
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 analysts' consensus estimates of $0.64 by $0.24. The company had revenue of $395.70 million for the quarter, compared to analyst estimates of $391.22 million. Interface had a return on equity of 21.77% and a net margin of 10.10%.The company's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Equities analysts predict that Interface, Inc. will post 2.36 earnings per share for the current year.
Interface Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.12 annualized dividend and a yield of 0.3%. Interface's dividend payout ratio (DPR) is presently 4.86%.
Hedge Funds Weigh In On Interface
Hedge funds have recently made changes to their positions in the business. QRG Capital Management Inc. raised its holdings in shares of Interface by 15.7% in the 2nd quarter. QRG Capital Management Inc. now owns 12,847 shares of the textile maker's stock worth $460,000 after purchasing an additional 1,747 shares in the last quarter. Reynders McVeigh Capital Management LLC grew its position in Interface by 11.4% in the second quarter. Reynders McVeigh Capital Management LLC now owns 489,736 shares of the textile maker's stock worth $17,552,000 after buying an additional 50,054 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Interface in the second quarter worth approximately $888,000. Nykredit A S bought a new position in shares of Interface in the second quarter valued at $47,000. Finally, Corient Private Wealth LP bought a new position in shares of Interface in the second quarter valued at $319,000. Institutional investors and hedge funds own 98.34% of the company's stock.
Analyst Upgrades and Downgrades
TILE has been the subject of a number of research analyst reports. Zacks Research raised shares of Interface from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 26th. 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 boosted their target price on Interface from $36.00 to $45.00 and gave the stock an "outperform" rating in a report 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 given a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $40.50.
View Our Latest Research Report on Interface
Interface Company Profile
(
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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