Christopher G. Kennedy Sells 29,500 Shares of Interface, Inc. (TILE) Stock
Interface, Inc. (NASDAQ:TILE) Director Christopher G. Kennedy sold 29,500 shares of Interface stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $21.92, for a total transaction of $646,640.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Interface, Inc. (NASDAQ:TILE) opened at 22.15 on Wednesday. The company has a 50-day moving average of $20.03 and a 200-day moving average of $19.53. Interface, Inc. has a 52 week low of $14.59 and a 52 week high of $22.60. The firm has a market capitalization of $1.36 billion, a PE ratio of 28.51 and a beta of 1.24.
Interface (NASDAQ:TILE) last issued its quarterly earnings results on Wednesday, July 26th. The textile maker reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Interface had a return on equity of 19.66% and a net margin of 5.21%. The firm had revenue of $251.70 million during the quarter, compared to analyst estimates of $254.94 million. During the same period last year, the company posted $0.32 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities analysts forecast that Interface, Inc. will post $1.14 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new position in Interface during the first quarter valued at about $106,000. Victory Capital Management Inc. grew its holdings in Interface by 38.3% during the first quarter. Victory Capital Management Inc. now owns 6,671 shares of the textile maker’s stock worth $127,000 after acquiring an additional 1,849 shares during the period. KBC Group NV acquired a new position in Interface during the second quarter worth about $133,000. Trust Co. of Vermont grew its holdings in Interface by 34.6% during the second quarter. Trust Co. of Vermont now owns 11,345 shares of the textile maker’s stock worth $223,000 after acquiring an additional 2,915 shares during the period. Finally, Verition Fund Management LLC acquired a new position in Interface during the second quarter worth about $224,000. Institutional investors and hedge funds own 93.21% of the company’s stock.
A number of research firms recently weighed in on TILE. BidaskClub cut Interface from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. ValuEngine cut Interface from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $19.00 price objective on shares of Interface in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $19.00.
Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.
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