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

Key Points

• Interface (NASDAQ:TILE) hit a new 52-week high of $35.42 and was last trading around $35.23, up about 2.4% on the day.
• Wall Street sentiment remains positive, with three analysts rating the stock a Buy and one Hold; the consensus price target is $36.
• The company’s latest earnings topped expectations, with EPS of $0.41 versus $0.33 expected and revenue rising 11.3% year over year to $331.04 million.

Interface, Inc. (NASDAQ:TILE - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as $35.42 and last traded at $35.23, with a volume of 48420 shares. The stock had previously closed at $34.24.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TILE. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Interface in a research report on Wednesday, June 17th. Barrington Research reiterated an "outperform" rating and set a $36.00 target price on shares of Interface in a research report on Friday, April 17th. Wall Street Zen upgraded Interface from a "buy" rating to a "strong-buy" rating in a 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 objective for the company. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Interface presently has an average rating of "Moderate Buy" and a consensus target price of $36.00.

Interface Trading Up 2.4%

The firm has a market capitalization of $2.04 billion, a price-to-earnings 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 business has a fifty day moving average price of $29.31 and a 200 day moving average price of $29.24.

Interface (NASDAQ:TILE - Get Free Report) last issued its earnings results on Friday, May 8th. The textile maker reported $0.41 earnings per share 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 firm had revenue of $331.04 million for the quarter, compared to analysts' expectations of $320.38 million. During the same quarter last year, the firm earned $0.25 earnings per share. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, equities analysts forecast that Interface, Inc. will post 2.11 earnings per share for the current year.

Interface Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, June 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Interface's payout ratio is presently 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 that occurred on 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 owned 119,256 shares in the company, valued at approximately $3,537,132.96. This trade represents a 29.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $1,287,397.00. Following the sale, the vice president owned 175,014 shares of the company's stock, valued at approximately $5,075,406. This represents a 20.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its position in shares of Interface by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 11,282 shares of the textile maker's stock worth $315,000 after buying an additional 349 shares during the period. Larson Financial Group LLC raised its holdings in shares of Interface by 30.8% during the 4th quarter. Larson Financial Group LLC now owns 1,538 shares of the textile maker's stock valued at $43,000 after buying an additional 362 shares during the period. Los Angeles Capital Management LLC lifted its position in Interface by 0.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 58,483 shares of the textile maker's stock worth $1,560,000 after acquiring an additional 403 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Interface by 1.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,695 shares of the textile maker's stock worth $857,000 after acquiring an additional 452 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Interface by 2.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,953 shares of the textile maker's stock worth $722,000 after acquiring an additional 495 shares during the period. 98.34% of the stock is owned by hedge funds and other 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.

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