Interface (NASDAQ:TILE) Reaches New 12-Month High – Should You Buy?

Interface, Inc. (NASDAQ:TILE) shares reached a new 52-week high on Friday . The stock traded as high as $24.97 and last traded at $24.88, with a volume of 144535 shares traded. The stock had previously closed at $24.50.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TILE. Barrington Research increased their price target on Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a 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.

Interface Stock Performance

The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.14 and a beta of 1.97. The firm’s 50 day moving average price is $19.09 and its 200-day moving average price is $17.06. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38.

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

Interface Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Friday, August 30th. Interface’s payout ratio is presently 2.80%.

Insider Activity at Interface

In other news, CFO Bruce Andrew Hausmann sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total transaction of $935,000.00. Following the completion of the transaction, the chief financial officer now directly owns 198,475 shares of the company’s stock, valued at approximately $3,374,075. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Stansfield Nigel sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $24.12, for a total value of $482,400.00. Following the sale, the vice president now owns 144,355 shares of the company’s stock, valued at approximately $3,481,842.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce Andrew Hausmann sold 55,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $17.00, for a total transaction of $935,000.00. Following the sale, the chief financial officer now owns 198,475 shares of the company’s stock, valued at $3,374,075. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,555 shares of company stock worth $1,479,719. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its holdings in Interface by 7.4% in the first 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 last quarter. The Manufacturers Life Insurance Company boosted its stake in Interface by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 22,103 shares of the textile maker’s stock valued at $324,000 after acquiring an additional 1,368 shares during the last quarter. KBC Group NV grew its holdings in Interface by 70.7% during the 3rd quarter. KBC Group NV now owns 3,472 shares of the textile maker’s stock worth $66,000 after acquiring an additional 1,438 shares during the period. New York State Teachers Retirement System raised its position in shares of Interface by 1.6% during the 3rd quarter. New York State Teachers Retirement System now owns 115,339 shares of the textile maker’s stock valued at $2,188,000 after acquiring an additional 1,767 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Interface by 13.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,825 shares of the textile maker’s stock valued at $218,000 after purchasing an additional 1,770 shares during the period. Institutional investors and hedge funds 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.