Interface (NASDAQ:TILE) Reaches New 12-Month High – Time to Buy?

Shares of Interface, Inc. (NASDAQ:TILE) hit a new 52-week high during trading on Monday . The stock traded as high as $20.17 and last traded at $20.12, with a volume of 1363 shares. The stock had previously closed at $20.12.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TILE. StockNews.com upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 6th. Barrington Research reissued an “outperform” rating and issued a $22.00 price objective on shares of Interface in a research note on Friday, September 20th.

Interface Stock Performance

The firm has a 50 day moving average of $18.46 and a two-hundred day moving average of $16.66. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.76 and a quick ratio of 1.45. The stock has a market cap of $1.08 billion, a PE ratio of 18.37, a PEG ratio of 0.97 and a beta of 1.97.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, August 2nd. The textile maker reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.12. The business had revenue of $346.60 million during the quarter, compared to the consensus estimate of $340.21 million. Interface had a net margin of 5.20% and a return on equity of 18.42%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. Research analysts predict that Interface, Inc. will post 1.28 EPS for the current fiscal year.

Interface Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Friday, August 30th. Interface’s dividend payout ratio (DPR) is currently 3.96%.

Insider Activity at Interface

In other Interface news, Director Daniel T. Hendrix sold 3,403 shares of Interface stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $15.99, for a total transaction of $54,413.97. Following the transaction, the director now owns 200,147 shares of the company’s stock, valued at $3,200,350.53. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Interface news, Director Daniel T. Hendrix sold 3,403 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $15.99, for a total transaction of $54,413.97. Following the transaction, the director now directly owns 200,147 shares of the company’s stock, valued at approximately $3,200,350.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Stansfield Nigel sold 17,500 shares of Interface stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $16.44, for a total transaction of $287,700.00. Following the completion of the transaction, the vice president now owns 164,355 shares in the company, valued at approximately $2,701,996.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,858 shares of company stock valued at $1,363,947 in the last three months. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Interface

Hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC lifted its stake in shares of Interface by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 11,576 shares of the textile maker’s stock worth $195,000 after acquiring an additional 794 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Interface by 6.6% during the second quarter. The Manufacturers Life Insurance Company now owns 22,103 shares of the textile maker’s stock worth $324,000 after purchasing an additional 1,368 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Interface by 13.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,825 shares of the textile maker’s stock valued at $218,000 after purchasing an additional 1,770 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Interface by 4.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,431 shares of the textile maker’s stock valued at $916,000 after purchasing an additional 2,073 shares in the last quarter. Finally, Range Financial Group LLC increased its position in Interface by 5.2% during the 2nd quarter. Range Financial Group LLC now owns 42,933 shares of the textile maker’s stock worth $630,000 after purchasing an additional 2,118 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

Interface Company Profile

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.