Interface (NASDAQ:TILE) Hits New 12-Month High – Here’s Why

Shares of Interface, Inc. (NASDAQ:TILE) hit a new 52-week high during trading on Monday . The stock traded as high as $34.88 and last traded at $34.87, with a volume of 36678 shares traded. The stock had previously closed at $34.63.

Analysts Set New Price Targets

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

Interface Stock Down 1.9%

The firm has a 50-day simple moving average of $30.01 and a 200 day simple moving average of $27.95. The company has a market capitalization of $1.98 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 1.15 and a beta of 1.90. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.89 and a quick ratio of 1.70.

Hedge Funds Weigh In On Interface

A number of institutional investors and hedge funds have recently bought and sold shares of TILE. TD Private Client Wealth LLC purchased a new stake in shares of Interface during the third quarter worth about $32,000. Blue Trust Inc. purchased a new stake in Interface during the 3rd quarter worth approximately $34,000. IFP Advisors Inc increased its holdings in Interface by 2,695.2% during the 2nd quarter. IFP Advisors Inc now owns 1,174 shares of the textile maker’s stock worth $25,000 after purchasing an additional 1,132 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Interface by 114.6% in the 3rd 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 purchased a new position in shares of Interface during the 3rd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.