Interface (NASDAQ:TILE) Shares Cross Above 200-Day Moving Average – What’s Next?

Interface, Inc. (NASDAQ:TILE) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.80 and traded as high as $30.44. Interface shares last traded at $30.14, with a volume of 522,363 shares.

Analyst Ratings Changes

TILE has been the topic of a number of analyst reports. Wall Street Zen raised shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Benchmark initiated coverage on shares of Interface in a report on Tuesday, May 19th. They set a “buy” rating and a $36.00 price objective on the stock. Barrington Research reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Interface in a report on Friday, April 17th. Finally, Weiss Ratings raised shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 20th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Interface Stock Up 1.3%

The stock has a 50 day moving average of $27.71 and a 200-day moving average of $28.80. The firm has a market capitalization of $1.75 billion, a P/E ratio of 14.08, a PEG ratio of 0.95 and a beta of 1.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 2.43.

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

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, June 5th. Interface’s payout ratio is currently 5.61%.

Insider Transactions at Interface

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TILE. CIBC Private Wealth Group LLC grew its holdings in Interface by 180.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock valued at $27,000 after buying an additional 631 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Interface by 114.6% during the third quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock worth $34,000 after purchasing an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Interface during the second quarter worth about $35,000. Wexford Capital LP purchased a new position in shares of Interface during the third quarter worth about $43,000. Finally, Blue Trust Inc. grew its holdings in shares of Interface by 88.3% during the fourth quarter. Blue Trust Inc. now owns 2,199 shares of the textile maker’s stock worth $61,000 after purchasing an additional 1,031 shares in the last quarter. 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.