Interface, Inc. (NASDAQ:TILE – Get Free Report) Director Daniel Hendrix sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $37.13, for a total value of $297,040.00. Following the completion of the transaction, the director directly owned 88,147 shares in the company, valued at approximately $3,272,898.11. The trade was a 8.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Interface Stock Up 2.0%
Shares of TILE stock traded up $0.72 during mid-day trading on Friday, reaching $37.11. 208,813 shares of the company were exchanged, compared to its average volume of 523,919. Interface, Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $40.50. 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 company has a market capitalization of $2.15 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.04 and a beta of 1.92. The business’s 50 day simple moving average is $35.68 and its 200 day simple moving average is $31.22.
Interface (NASDAQ:TILE – Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The textile maker reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.24. The firm had revenue of $395.70 million for the quarter, compared to analysts’ expectations of $391.22 million. Interface had a net margin of 10.10% and a return on equity of 21.77%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. Research analysts predict that Interface, Inc. will post 2.36 earnings per share for the current year.
Interface Dividend Announcement
Analysts Set New Price Targets
Several analysts have issued reports on TILE shares. Zacks Research upgraded Interface from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 26th. Barrington Research boosted their price target on Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Weiss Ratings raised Interface from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Wall Street Zen cut Interface from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Benchmark assumed coverage on shares of Interface in a research note on Tuesday, May 19th. They set a “buy” rating and a $36.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, Interface has a consensus rating of “Buy” and an average target price of $40.50.
Check Out Our Latest Research Report on Interface
Hedge Funds Weigh In On Interface
Institutional investors have recently made changes to their positions in the stock. Corient Private Wealth LP bought a new stake in shares of Interface in the 2nd quarter worth approximately $319,000. Amundi grew its stake in Interface by 41.8% during the 2nd quarter. Amundi now owns 13,083 shares of the textile maker’s stock worth $469,000 after buying an additional 3,858 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Interface in the second quarter worth $254,000. California State Teachers Retirement System increased its position in Interface by 4,232.4% in the second quarter. California State Teachers Retirement System now owns 2,313,042 shares of the textile maker’s stock worth $82,899,000 after buying an additional 2,259,653 shares during the period. Finally, HB Wealth Management LLC lifted its stake in Interface by 1.0% in the second quarter. HB Wealth Management LLC now owns 40,804 shares of the textile maker’s stock valued at $1,462,000 after buying an additional 418 shares during the last quarter. 98.34% of the stock is owned by institutional investors.
Interface Company Profile
Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.
Founded in 1973 by Ray C.
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