Interface (NASDAQ:TILE) Hits New 52-Week Low at $9.50

Interface, Inc. (NASDAQ:TILEGet Rating)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $9.50 and last traded at $9.52, with a volume of 3646 shares trading hands. The stock had previously closed at $9.69.

Analysts Set New Price Targets

Separately, TheStreet cut Interface from a “b-” rating to a “c+” rating in a research note on Wednesday.

Interface Stock Down 1.2 %

The company’s fifty day simple moving average is $12.39 and its 200 day simple moving average is $12.94. The firm has a market capitalization of $559.61 million, a PE ratio of 8.88 and a beta of 1.81. The company has a quick ratio of 1.24, a current ratio of 2.51 and a debt-to-equity ratio of 1.53.

Interface (NASDAQ:TILEGet Rating) last released its earnings results on Friday, August 5th. The textile maker reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. Interface had a net margin of 4.89% and a return on equity of 23.39%. The firm had revenue of $346.60 million during the quarter, compared to analyst estimates of $357.70 million. During the same period last year, the business earned $0.30 earnings per share. The business’s revenue was up 17.6% on a year-over-year basis. Analysts anticipate that Interface, Inc. will post 1.21 earnings per share for the current fiscal year.

Interface Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were given a dividend of $0.10 per share. This is an increase from Interface’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.25%. Interface’s payout ratio is presently 3.77%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TILE. Advisor Group Holdings Inc. lifted its stake in shares of Interface by 19.8% during the 4th quarter. Advisor Group Holdings Inc. now owns 7,584 shares of the textile maker’s stock valued at $122,000 after buying an additional 1,256 shares in the last quarter. HighTower Advisors LLC grew its stake in Interface by 229.5% in the 4th quarter. HighTower Advisors LLC now owns 88,671 shares of the textile maker’s stock worth $1,410,000 after acquiring an additional 61,757 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in Interface in the 4th quarter worth about $186,000. JPMorgan Chase & Co. grew its stake in Interface by 26.2% in the 4th quarter. JPMorgan Chase & Co. now owns 548,889 shares of the textile maker’s stock worth $8,755,000 after acquiring an additional 114,044 shares in the last quarter. Finally, Meros Investment Management LP bought a new position in shares of Interface during the fourth quarter valued at approximately $7,801,000. Hedge funds and other institutional investors own 90.02% of the company’s stock.

About Interface

(Get Rating)

Interface, Inc, a modular flooring company, designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company offers modular carpets under the Interface and FLOR brand names; carpet tiles under the GlasBacRE name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; rubber flooring under the norament and noraplan brand names; and luxury vinyl tile products.

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