Interface (NASDAQ:TILE) Sees Large Volume Increase - Here's Why

Key Points

• Shares experienced an unusually large volume spike—about 976,550 shares traded (a 123% increase vs. the prior session) while the stock traded near $25.24 and was down roughly 0.9%.
• Wall Street sentiment is positive: Barrington raised its target to $36.00 with an "outperform" rating, and the stock carries a consensus rating of Moderate Buy (two Buys, one Hold).
• Recent quarter: Interface beat EPS estimates ($0.49 vs. $0.40) with revenue of $349.39M (slightly below estimates) and announced a higher quarterly dividend of $0.03 (annualized $0.12, ~0.5% yield).

Shares of Interface, Inc. (NASDAQ:TILE - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 976,550 shares changed hands during mid-day trading, an increase of 123% from the previous session's volume of 438,591 shares.The stock last traded at $25.2380 and had previously closed at $25.69.

Wall Street Analysts Forecast Growth

TILE has been the topic of a number of research analyst reports. Barrington Research raised their target price on Interface from $32.00 to $36.00 and gave the company an "outperform" rating in a report on Friday, January 23rd. Zacks Research cut Interface from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 30th. Weiss Ratings upgraded Interface from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday. Finally, Wall Street Zen lowered Interface from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.00.

Interface Trading Down 0.9%

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.34 and a quick ratio of 1.18. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 0.80 and a beta of 1.87. The business's fifty day moving average price is $30.69 and its 200 day moving average price is $28.77.

Interface (NASDAQ:TILE - Get Free Report) last announced its earnings results on Tuesday, February 24th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.09. The business had revenue of $349.39 million during the quarter, compared to analyst estimates of $350.54 million. Interface had a return on equity of 19.54% and a net margin of 8.37%.Interface's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the company earned $0.34 EPS. Research analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, March 27th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from Interface's previous quarterly dividend of $0.02. The ex-dividend date is Friday, March 27th. Interface's dividend payout ratio is 4.08%.

Insider Buying and Selling

In related news, VP James Poppens sold 8,000 shares of the company's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $28.05, for a total value of $224,400.00. Following the sale, the vice president directly owned 103,846 shares in the company, valued at $2,912,880.30. This represents a 7.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 25,650 shares of company stock valued at $736,292 in the last quarter. Corporate insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Interface

A number of institutional investors have recently modified their holdings of TILE. Royal Bank of Canada grew its position in shares of Interface by 8.4% during the 1st quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker's stock worth $390,000 after buying an additional 1,522 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Interface by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,118 shares of the textile maker's stock valued at $677,000 after purchasing an additional 1,485 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Interface by 5.9% during the first quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker's stock valued at $14,854,000 after purchasing an additional 42,011 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Interface by 6.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker's stock worth $3,015,000 after purchasing an additional 9,580 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Interface by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,433,183 shares of the textile maker's stock valued at $30,000,000 after buying an additional 10,537 shares during the period. 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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