Interface, Inc. (NASDAQ:TILE – Get Free Report)’s stock price gapped down prior to trading on Friday. The stock had previously closed at $37.82, but opened at $29.97. Interface shares last traded at $32.62, with a volume of 102,977 shares.
More Interface News
Here are the key news stories impacting Interface this week:
- Positive Sentiment: Adjusted earnings were $0.68 per share, above the $0.61 consensus and up 11.5% year over year. Interface also reaffirmed its outlook. Interface Q3 Earnings Top Estimates Interface posts Q3 sales, reaffirms outlook
- Negative Sentiment: Revenue of $366.7 million missed the $377.6 million consensus, despite increasing just 0.6% year over year. GAAP earnings per share fell 14.1% to $0.67, a contrast with the growth in adjusted earnings. Interface quarterly results
Wall Street Analyst Weigh In
Several research firms recently weighed in on TILE. Barrington Research lifted their target price on Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Weiss Ratings cut Interface from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, October 27th. Wall Street Zen downgraded Interface from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Finally, Zacks Research downgraded Interface from a “strong-buy” rating to a “hold” rating in a research note 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. Based on data from MarketBeat, Interface has an average rating of “Moderate Buy” and a consensus target price of $40.50.
View Our Latest Analysis on TILE
Interface Stock Down 16.0%
The company has a quick ratio of 1.35, a current ratio of 2.53 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $35.78 and a 200-day moving average price of $32.30. The stock has a market capitalization of $1.84 billion, a P/E ratio of 13.13, a PEG ratio of 1.13 and a beta of 2.08.
Interface (NASDAQ:TILE – Get Free Report) last announced its quarterly earnings results on Friday, November 6th. The textile maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. Interface had a return on equity of 21.77% and a net margin of 10.10%. The company had revenue of $366.74 million during the quarter, compared to analyst estimates of $377.60 million. During the same period in the prior year, the company earned $0.61 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. As a group, research analysts forecast that Interface, Inc. will post 2.36 EPS for the current fiscal year.
Interface Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. Interface’s payout ratio is presently 4.86%.
Insider Transactions at Interface
In related news, VP David B. Foshee sold 28,451 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $35.99, for a total value of $1,023,951.49. Following the completion of the transaction, the vice president directly owned 146,563 shares of the company’s stock, valued at approximately $5,274,802.37. This trade represents a 16.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Laurel Hurd sold 7,000 shares of the firm’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $36.42, for a total transaction of $254,940.00. Following the completion of the transaction, the chief executive officer directly owned 492,978 shares of the company’s stock, valued at approximately $17,954,258.76. This trade represents a 1.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 65,621 shares of company stock valued at $2,378,904 in the last ninety days. Corporate insiders own 2.47% of the company’s stock.
Hedge Funds Weigh In On Interface
Several institutional investors have recently bought and sold shares of TILE. Maryland State Retirement & Pension System grew its stake in shares of Interface by 53.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 13,045 shares of the textile maker’s stock worth $449,000 after buying an additional 4,537 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Interface by 9.0% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 32,633 shares of the textile maker’s stock worth $1,123,000 after buying an additional 2,708 shares during the last quarter. Ethic Inc. raised its position in shares of Interface by 298.9% during the 3rd quarter. Ethic Inc. now owns 50,649 shares of the textile maker’s stock valued at $1,742,000 after buying an additional 37,951 shares in the last quarter. Abacus Wealth Partners LLC raised its position in shares of Interface by 29.0% during the 3rd quarter. Abacus Wealth Partners LLC now owns 16,828 shares of the textile maker’s stock valued at $579,000 after buying an additional 3,780 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its position in shares of Interface by 7.8% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 25,923 shares of the textile maker’s stock valued at $892,000 after buying an additional 1,881 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.
Interface Company Profile
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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