Interface, Inc. (TILE) Hits New 1-Year High at $24.38
Interface, Inc. (NASDAQ:TILE) hit a new 52-week high on Friday . The company traded as high as $24.38 and last traded at $24.25, with a volume of 495200 shares changing hands. The stock had previously closed at $23.25.
TILE has been the subject of a number of research reports. Zacks Investment Research upgraded Interface from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Saturday, October 28th. Nomura increased their price target on Interface from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $23.00 price target on shares of Interface in a research note on Thursday, October 26th. ValuEngine cut Interface from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BidaskClub cut Interface from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $23.50.
The stock has a market capitalization of $1,431.25, a P/E ratio of 20.40 and a beta of 1.32. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.40 and a current ratio of 2.51.
Interface (NASDAQ:TILE) last announced its earnings results on Wednesday, October 25th. The textile maker reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The business had revenue of $257.43 million during the quarter, compared to analyst estimates of $255.63 million. Interface had a return on equity of 21.39% and a net margin of 5.53%. Interface’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. analysts anticipate that Interface, Inc. will post 1.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be given a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 1.07%. The ex-dividend date is Thursday, November 9th. Interface’s dividend payout ratio is currently 30.59%.
In related news, VP Stansfield Nigel sold 8,450 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $19.26, for a total transaction of $162,747.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel T. Hendrix sold 6,000 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $19.95, for a total value of $119,700.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,450 shares of company stock valued at $2,018,267. 1.90% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Interface by 144,783.3% during the 1st quarter. BlackRock Inc. now owns 7,815,006 shares of the textile maker’s stock worth $148,876,000 after purchasing an additional 7,809,612 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Interface by 3.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 430,386 shares of the textile maker’s stock worth $8,458,000 after acquiring an additional 16,228 shares during the period. Bank of New York Mellon Corp grew its holdings in Interface by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,112,169 shares of the textile maker’s stock worth $41,504,000 after acquiring an additional 36,699 shares during the period. Peregrine Capital Management LLC grew its holdings in Interface by 2.0% during the 2nd quarter. Peregrine Capital Management LLC now owns 547,281 shares of the textile maker’s stock worth $10,754,000 after acquiring an additional 10,950 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Interface by 3.2% during the 1st quarter. Geode Capital Management LLC now owns 533,313 shares of the textile maker’s stock worth $10,159,000 after acquiring an additional 16,620 shares during the period. 92.88% of the stock is owned by institutional investors and hedge funds.
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Interface Company Profile
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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