Interface (NASDAQ:TILE) Reaches New 1-Year High – Time to Buy?

Interface, Inc. (NASDAQ:TILE)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $36.10 and last traded at $36.1970, with a volume of 1801 shares traded. The stock had previously closed at $35.84.

Analysts Set New Price Targets

A number of research analysts have commented on TILE shares. Wall Street Zen upgraded Interface from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Benchmark assumed coverage on Interface in a report on Tuesday, May 19th. They set a “buy” rating and a $36.00 price target for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Interface in a research note on Wednesday, June 17th. Zacks Research upgraded Interface from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Barrington Research reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Interface in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $36.00.

Interface Price Performance

The company’s 50-day simple moving average is $29.97 and its 200 day simple moving average is $29.48. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 1.13 and a beta of 1.91.

Interface (NASDAQ:TILE) last announced its quarterly earnings results on Friday, May 8th. The textile maker reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. The company had revenue of $331.04 million during the quarter, compared to analysts’ expectations of $320.38 million. Interface had a return on equity of 20.09% and a net margin of 8.92%.The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Equities research analysts forecast that Interface, Inc. will post 2.11 EPS for the current year.

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Interface’s dividend payout ratio is presently 5.61%.

Insider Activity at Interface

In related news, VP David B. Foshee sold 44,393 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the completion of the sale, the vice president directly owned 175,014 shares of the company’s stock, valued at approximately $5,075,406. This represents a 20.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the sale, the chief financial officer directly owned 119,256 shares of the company’s stock, valued at approximately $3,537,132.96. This represents a 29.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.47% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TILE. Fuller & Thaler Asset Management Inc. boosted its holdings in Interface by 133.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker’s stock valued at $56,071,000 after acquiring an additional 1,149,733 shares during the period. UBS Group AG increased its stake in shares of Interface by 413.8% in the fourth quarter. UBS Group AG now owns 499,035 shares of the textile maker’s stock worth $13,933,000 after purchasing an additional 401,912 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of Interface by 273.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 386,828 shares of the textile maker’s stock worth $10,800,000 after purchasing an additional 283,152 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Interface by 2,333.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker’s stock worth $7,845,000 after purchasing an additional 269,439 shares during the last quarter. Finally, Clark Capital Management Group Inc. lifted its position in shares of Interface by 67.9% during the 3rd quarter. Clark Capital Management Group Inc. now owns 623,295 shares of the textile maker’s stock worth $18,038,000 after purchasing an additional 252,157 shares during the last quarter. 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.