Interface (NASDAQ:TILE) Shares Gap Up to $16.47

Interface, Inc. (NASDAQ:TILEGet Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $16.47, but opened at $17.10. Interface shares last traded at $17.42, with a volume of 93,555 shares traded.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. TheStreet upgraded shares of Interface from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. StockNews.com upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 30th. Finally, Truist Financial increased their target price on shares of Interface from $10.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, February 28th.

Read Our Latest Report on Interface

Interface Trading Down 3.8 %

The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 22.63 and a beta of 1.98. The firm’s 50 day moving average is $13.84 and its 200 day moving average is $11.59. The company has a quick ratio of 1.42, a current ratio of 2.72 and a debt-to-equity ratio of 0.96.

Interface (NASDAQ:TILEGet Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The textile maker reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.19. Interface had a net margin of 3.53% and a return on equity of 14.95%. The firm had revenue of $325.10 million for the quarter, compared to analysts’ expectations of $320.16 million. During the same period in the previous year, the company posted $0.31 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. Equities analysts forecast that Interface, Inc. will post 1.02 earnings per share for the current year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Wednesday, March 27th. Interface’s dividend payout ratio is currently 5.26%.

Hedge Funds Weigh In On Interface

Institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors boosted its holdings in Interface by 228.8% in the first quarter. Captrust Financial Advisors now owns 2,604 shares of the textile maker’s stock worth $35,000 after purchasing an additional 1,812 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Interface by 407.7% in the second quarter. PNC Financial Services Group Inc. now owns 4,899 shares of the textile maker’s stock worth $43,000 after purchasing an additional 3,934 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Interface in the second quarter worth $50,000. Lazard Asset Management LLC bought a new stake in Interface in the fourth quarter worth $61,000. Finally, ExodusPoint Capital Management LP bought a new stake in Interface in the first quarter worth $87,000. 90.29% of the stock is currently owned by hedge funds and other institutional investors.

Interface Company Profile

(Get Free Report)

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.

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