Interface (NASDAQ:TILE) Trading Down 3.9%

Shares of Interface, Inc. (NASDAQ:TILE) were down 3.9% during mid-day trading on Monday . The company traded as low as $16.67 and last traded at $16.72. Approximately 226,215 shares changed hands during trading, a decline of 41% from the average daily volume of 383,619 shares. The stock had previously closed at $17.39.

Analyst Upgrades and Downgrades

TILE has been the topic of a number of recent research reports. Barrington Research lifted their target price on Interface from $20.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday. TheStreet upgraded shares of Interface from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Finally, Truist Financial boosted their price objective on shares of Interface from $10.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th.

Interface Stock Performance

The stock’s 50 day moving average price is $15.92 and its 200 day moving average price is $13.01. The company has a current ratio of 2.72, a quick ratio of 1.30 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $956.23 million, a price-to-earnings ratio of 16.27, a P/E/G ratio of 1.10 and a beta of 1.99.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Friday, May 3rd. The textile maker reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.12. Interface had a net margin of 4.73% and a return on equity of 16.94%. The company had revenue of $289.70 million during the quarter, compared to the consensus estimate of $284.76 million. During the same period in the prior year, the business posted $0.07 EPS. The company’s quarterly revenue was down 2.1% on a year-over-year basis. Analysts expect that Interface, Inc. will post 1.05 earnings per share for the current year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. Interface’s dividend payout ratio is 3.96%.

Hedge Funds Weigh In On Interface

A number of large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in Interface in the 1st quarter valued at about $57,000. GAMMA Investing LLC raised its holdings in Interface by 131.1% in the 1st quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock valued at $66,000 after acquiring an additional 2,237 shares during the period. Aristeia Capital LLC bought a new position in Interface in the 3rd quarter valued at about $101,000. Olympiad Research LP bought a new position in Interface in the 3rd quarter valued at about $141,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Interface by 86.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,235 shares of the textile maker’s stock valued at $149,000 after acquiring an additional 7,052 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Interface Company Profile

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.