Interface (NASDAQ:TILE) Reaches New 1-Year High – Still a Buy?

Interface, Inc. (NASDAQ:TILE)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $32.43 and last traded at $32.1190, with a volume of 158387 shares changing hands. The stock had previously closed at $31.47.

Analysts Set New Price Targets

A number of analysts have issued reports on TILE shares. Barrington Research lifted their target price on shares of Interface from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Weiss Ratings lowered Interface from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, December 24th. Zacks Research lowered shares of Interface from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Wall Street Zen lowered Interface from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $36.00.

Interface Stock Performance

The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 1.05 and a beta of 1.90. The company has a quick ratio of 1.70, a current ratio of 2.89 and a debt-to-equity ratio of 0.49. The stock’s 50-day simple moving average is $29.05 and its 200 day simple moving average is $27.27.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, October 31st. The textile maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.15. The firm had revenue of $364.53 million during the quarter, compared to analysts’ expectations of $358.19 million. Interface had a return on equity of 19.30% and a net margin of 8.27%.The business’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm posted $0.48 EPS. Analysts expect that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, November 28th. Interface’s dividend payout ratio is presently 4.17%.

Hedge Funds Weigh In On Interface

Large investors have recently made changes to their positions in the company. TD Private Client Wealth LLC bought a new position in Interface in the third quarter valued at approximately $32,000. Blue Trust Inc. acquired a new stake in Interface during the 3rd quarter worth approximately $34,000. IFP Advisors Inc lifted its position in Interface by 2,695.2% in the 2nd quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 1,132 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Interface by 114.6% in the third quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 628 shares in the last quarter. Finally, Wexford Capital LP bought a new stake in Interface in the 3rd quarter valued at approximately $43,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.