Interface (NASDAQ:TILE) Reaches New 1-Year High – Should You Buy?

Interface, Inc. (NASDAQ:TILE)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $26.44 and last traded at $26.38, with a volume of 68358 shares changing hands. The stock had previously closed at $25.46.

Wall Street Analyst Weigh In

TILE has been the subject of a number of research reports. Barrington Research increased their target price on shares of Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. StockNews.com downgraded shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th.

Interface Trading Up 4.5 %

The firm has a 50 day simple moving average of $20.64 and a 200 day simple moving average of $17.81. The firm has a market cap of $1.55 billion, a P/E ratio of 18.38, a P/E/G ratio of 1.24 and a beta of 1.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57.

Interface (NASDAQ:TILE) last released its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.14. Interface had a net margin of 6.49% and a return on equity of 19.91%. The firm had revenue of $344.30 million for the quarter, compared to analysts’ expectations of $336.39 million. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The business’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts predict that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Interface Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a yield of 0.15%. Interface’s dividend payout ratio is presently 2.80%.

Insider Transactions at Interface

In other Interface news, CFO Bruce Andrew Hausmann sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $25.50, for a total value of $765,000.00. Following the completion of the sale, the chief financial officer now owns 168,475 shares of the company’s stock, valued at $4,296,112.50. This represents a 15.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stansfield Nigel sold 20,000 shares of Interface stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total transaction of $482,400.00. Following the transaction, the vice president now directly owns 144,355 shares in the company, valued at $3,481,842.60. This trade represents a 12.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Interface

A number of institutional investors have recently made changes to their positions in TILE. ProShare Advisors LLC boosted its holdings in Interface by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 11,576 shares of the textile maker’s stock valued at $195,000 after acquiring an additional 794 shares during the period. National Bank of Canada FI boosted its stake in shares of Interface by 33.7% during the third quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker’s stock valued at $64,000 after purchasing an additional 856 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Interface by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 22,103 shares of the textile maker’s stock worth $324,000 after purchasing an additional 1,368 shares during the last quarter. KBC Group NV increased its stake in shares of Interface by 70.7% in the third quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock worth $66,000 after buying an additional 1,438 shares during the period. Finally, New York State Teachers Retirement System increased its stake in shares of Interface by 1.6% in the third quarter. New York State Teachers Retirement System now owns 115,339 shares of the textile maker’s stock worth $2,188,000 after buying an additional 1,767 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

About Interface

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.