Interface (TILE) Sees Unusually-High Trading Volume After Earnings Beat

Shares of Interface, Inc. (NASDAQ:TILE) saw strong trading volume on Thursday following a stronger than expected earnings report. 802,787 shares changed hands during trading, an increase of 112% from the previous session’s volume of 378,176 shares.The stock last traded at $25.10 and had previously closed at $25.10.

The textile maker reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The business had revenue of $266.21 million for the quarter, compared to the consensus estimate of $256.68 million. Interface had a net margin of 5.53% and a return on equity of 21.39%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be paid a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, March 8th. Interface’s dividend payout ratio is currently 30.23%.

A number of equities analysts have weighed in on the stock. ValuEngine raised shares of Interface from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub downgraded shares of Interface from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Stifel Nicolaus reaffirmed a “hold” rating and set a $23.00 price target on shares of Interface in a research note on Thursday, October 26th. Zacks Investment Research raised shares of Interface from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Saturday, October 28th. Finally, Nomura increased their price target on shares of Interface from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $25.67.

A number of large investors have recently bought and sold shares of TILE. Millennium Management LLC raised its stake in Interface by 611.0% during the fourth quarter. Millennium Management LLC now owns 960,638 shares of the textile maker’s stock worth $24,160,000 after purchasing an additional 825,536 shares during the period. Chartwell Investment Partners LLC acquired a new stake in shares of Interface in the third quarter worth $13,643,000. Point72 Asset Management L.P. acquired a new stake in shares of Interface in the third quarter worth $6,684,000. Deprince Race & Zollo Inc. increased its position in shares of Interface by 26.9% in the third quarter. Deprince Race & Zollo Inc. now owns 1,400,976 shares of the textile maker’s stock worth $30,681,000 after acquiring an additional 297,389 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Interface by 79.7% in the fourth quarter. Deutsche Bank AG now owns 551,855 shares of the textile maker’s stock worth $13,877,000 after acquiring an additional 244,707 shares in the last quarter. 91.76% of the stock is currently owned by institutional investors.

The firm has a market cap of $1,510.00, a PE ratio of 29.19 and a beta of 1.29. The company has a quick ratio of 1.40, a current ratio of 2.51 and a debt-to-equity ratio of 0.66.

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About Interface

Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.

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