Key Points
- Interface Director Daniel Hendrix sold 4,000 shares for $141,560, reducing his direct ownership by 4.75% to 80,147 shares.
- Interface shares opened at $35.07, down 1.6%, with a $2.04 billion market capitalization; the stock has traded between $24.40 and $40.50 over the past year.
- The company recently exceeded quarterly earnings expectations, reporting $0.88 in EPS versus a $0.64 consensus estimate, while analysts maintain a “Moderate Buy” rating with an average price target of $40.50.
Interface, Inc. (NASDAQ:TILE - Get Free Report) Director Daniel Hendrix sold 4,000 shares of Interface stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $35.39, for a total value of $141,560.00. Following the sale, the director directly owned 80,147 shares of the company's stock, valued at $2,836,402.33. This trade represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Interface Trading Down 1.6%
NASDAQ:TILE opened at $35.07 on Thursday. 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 P/E ratio of 14.20, a P/E/G ratio of 1.01 and a beta of 1.99. 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 has a 50-day simple moving average of $36.06 and a 200-day simple moving average of $32.81.
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. The business 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 business's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. As a group, analysts anticipate that Interface, Inc. will post 2.36 earnings per share for the current fiscal year.
Interface Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date was Friday, September 4th. Interface's dividend payout ratio is currently 4.86%.
Institutional Investors Weigh In On Interface
Large investors have recently modified their holdings of the company. Allworth Financial LP purchased a new position in shares of Interface during the second quarter worth approximately $36,000. Public Employees Retirement System of Ohio purchased a new position in Interface during the 2nd quarter worth $39,000. Farther Finance Advisors LLC grew its position in Interface by 39.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,271 shares of the textile maker's stock worth $44,000 after purchasing an additional 357 shares during the last quarter. Nykredit A S acquired a new position in Interface in the second quarter valued at $47,000. Finally, EverSource Wealth Advisors LLC increased its stake in Interface by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 2,472 shares of the textile maker's stock valued at $62,000 after purchasing an additional 934 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
TILE has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Interface from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, October 12th. Wall Street Zen cut shares of Interface from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 15th. Barrington Research upped their price objective on shares of Interface from $36.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Finally, Zacks Research lowered Interface from a "strong-buy" rating to a "hold" rating in a report on Friday, October 9th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.50.
View Our Latest Report on Interface
Interface Company Profile
(
Get Free Report)
Interface, Inc designs and manufactures modular flooring products for commercial, institutional and residential interiors. Its portfolio includes carpet tile, broadloom carpet and resilient flooring, including luxury vinyl tile. The company serves markets such as corporate offices, hospitality, education, healthcare and retail.
Founded in 1973 by Ray Anderson, Interface is headquartered in Atlanta, Georgia, and sells its products through a global network serving customers in North America, Europe and the Asia-Pacific region.
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