Interface (NASDAQ:TILE) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Interface, Inc. (NASDAQ:TILE) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.54 and traded as low as $24.80. Interface shares last traded at $24.87, with a volume of 740,863 shares.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings raised shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 20th. Zacks Research lowered shares of Interface from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Wall Street Zen lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 17th. Finally, Barrington Research increased their target price on shares of Interface from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Interface Stock Performance

The firm has a market capitalization of $1.52 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 0.83 and a beta of 1.96. The company’s 50 day moving average is $29.31 and its 200-day moving average is $28.49. The company has a quick ratio of 1.18, a current ratio of 2.34 and a debt-to-equity ratio of 0.27.

Interface (NASDAQ:TILE) last issued 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. Interface had a net margin of 8.37% and a return on equity of 19.54%. The business had revenue of $349.39 million for the quarter, compared to analyst estimates of $350.54 million. During the same period in the prior year, the firm earned $0.34 earnings per share. Interface’s revenue was up 4.3% on a year-over-year basis. As a group, equities analysts anticipate that Interface, Inc. will post 1.37 EPS for the current year.

Interface Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 27th will be paid a $0.03 dividend. 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 of this dividend is Friday, March 27th. Interface’s payout ratio is 6.12%.

Insider Buying and Selling at Interface

In other Interface news, VP James Poppens sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $29.42, for a total value of $294,200.00. Following the transaction, the vice president directly owned 119,496 shares of the company’s stock, valued at approximately $3,515,572.32. This trade represents a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 25,650 shares of company stock valued at $736,292 over the last 90 days. 2.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TILE. Royal Bank of Canada lifted its stake in shares of Interface by 8.4% in the first quarter. Royal Bank of Canada now owns 19,657 shares of the textile maker’s stock valued at $390,000 after buying an additional 1,522 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Interface by 5.9% in 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Interface by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 151,950 shares of the textile maker’s stock valued at $3,015,000 after purchasing an additional 9,580 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Interface by 24.7% in the second quarter. JPMorgan Chase & Co. now owns 201,630 shares of the textile maker’s stock valued at $4,220,000 after purchasing an additional 39,941 shares during the last quarter. 98.34% of the stock is owned by institutional investors.

About Interface

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.