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

Interface, Inc. (NASDAQ:TILE) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $35.42 and last traded at $35.23, with a volume of 48420 shares changing hands. The stock had previously closed at $34.24.

Analyst Ratings Changes

TILE has been the subject of several analyst reports. Benchmark started coverage on shares of Interface in a research note on Tuesday, May 19th. They issued a “buy” rating and a $36.00 target price for the company. Wall Street Zen raised shares of Interface from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Barrington Research reiterated an “outperform” rating and issued a $36.00 price objective on shares of Interface in a report on Friday, April 17th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Interface in a research report on Wednesday, June 17th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Interface Stock Up 2.4%

The company has a market capitalization of $2.04 billion, a PE ratio of 16.40, a P/E/G ratio of 1.02 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. The firm has a fifty day simple moving average of $29.31 and a 200-day simple moving average of $29.24.

Interface (NASDAQ:TILE) last released 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 business had revenue of $331.04 million during the quarter, compared to the consensus estimate of $320.38 million. Interface had a net margin of 8.92% and a return on equity of 20.09%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. Equities research analysts anticipate that Interface, Inc. will post 2.11 EPS for the current fiscal year.

Interface Dividend Announcement

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

Insider Activity

In other news, CFO Bruce Andrew Hausmann sold 50,000 shares of the business’s 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 completion of the sale, the chief financial officer owned 119,256 shares of the company’s stock, valued at approximately $3,537,132.96. The trade was a 29.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David B. Foshee sold 44,393 shares of the company’s stock in a transaction dated 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 owned 175,014 shares in the company, valued at approximately $5,075,406. This trade represents a 20.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.47% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Interface

A number of institutional investors have recently made changes to their positions in TILE. Westover Capital Advisors LLC acquired a new position in Interface in the fourth quarter worth $1,744,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Interface by 2,333.4% during the fourth 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 period. Congress Asset Management Co. lifted its holdings in Interface by 3.3% in the fourth quarter. Congress Asset Management Co. now owns 2,629,174 shares of the textile maker’s stock worth $73,407,000 after acquiring an additional 84,793 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Interface by 5.5% in the 3rd quarter. American Century Companies Inc. now owns 2,412,549 shares of the textile maker’s stock worth $69,819,000 after purchasing an additional 126,263 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Interface by 43.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 289,092 shares of the textile maker’s stock worth $8,366,000 after buying an additional 87,462 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

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.