Interface (NASDAQ:TILE) Hits New 12-Month High – Still a Buy?

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

Analyst Ratings Changes

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

Interface Trading Up 0.6%

The company has a debt-to-equity ratio of 0.30, a current ratio of 2.43 and a quick ratio of 1.16. The business’s 50 day moving average price is $29.64 and its 200-day moving average price is $29.35. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 1.12 and a beta of 1.91.

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

Interface Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend 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 Buying and Selling

In related news, CFO Bruce Andrew Hausmann sold 50,000 shares of the firm’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 in the company, valued at $3,537,132.96. This trade represents a 29.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David B. Foshee sold 44,393 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $29.00, for a total value of $1,287,397.00. Following the sale, the vice president directly owned 175,014 shares in the company, valued at $5,075,406. This trade represents a 20.23% decrease in their position. The SEC filing for this sale provides additional information. 2.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Interface

Several hedge funds and other institutional investors have recently bought and sold shares of TILE. Dimensional Fund Advisors LP grew its holdings in Interface by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,689,857 shares of the textile maker’s stock valued at $75,105,000 after purchasing an additional 36,530 shares during the last quarter. Congress Asset Management Co. lifted its holdings in shares of Interface by 3.3% in the fourth quarter. Congress Asset Management Co. now owns 2,629,174 shares of the textile maker’s stock valued at $73,407,000 after purchasing an additional 84,793 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Interface by 5.5% in the third quarter. American Century Companies Inc. now owns 2,412,549 shares of the textile maker’s stock valued at $69,819,000 after purchasing an additional 126,263 shares in the last quarter. State Street Corp grew its position in shares of Interface by 0.7% in the fourth quarter. State Street Corp now owns 2,192,472 shares of the textile maker’s stock valued at $61,214,000 after purchasing an additional 14,764 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its position in shares of Interface by 133.9% in 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 purchasing an additional 1,149,733 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

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.