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

Key Points

• Interface (NASDAQ:TILE) hit a new 52-week high, trading as high as $36.10, with the stock recently around $36.20.
• Analysts remain constructive on the company, with a consensus rating of “Buy” and an average price target of $36.00; several firms recently upgraded or reiterated bullish ratings.
• The company’s latest earnings topped estimates, with EPS of $0.41 versus $0.33 expected and revenue of $331.04 million, up 11.3% year over year.

Interface, Inc. (NASDAQ:TILE - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as $36.10 and last traded at $36.1970, with a volume of 1801 shares changing hands. The stock had previously closed at $35.84.

Analysts Set New Price Targets

TILE has been the topic of several recent research reports. 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 restated an "outperform" rating and set a $36.00 target price on shares of Interface in a report on Friday, April 17th. Weiss Ratings restated a "buy (b-)" rating on shares of Interface in a research report on Wednesday, June 17th. Benchmark initiated coverage on Interface in a research report on Tuesday, May 19th. They set a "buy" rating and a $36.00 price objective for the company. Finally, Zacks Research upgraded Interface from a "hold" rating to a "strong-buy" rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $36.00.

Interface Stock Up 0.1%

The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $2.08 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 1.13 and a beta of 1.91. The business's 50 day simple moving average is $29.97 and its 200 day simple moving average is $29.48.

Interface (NASDAQ:TILE - Get Free Report) last released its earnings results on Friday, May 8th. The textile maker reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.08. The business had revenue of $331.04 million for 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 firm's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. As a group, analysts forecast that Interface, Inc. will post 2.11 EPS for the current year.

Interface Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Friday, June 5th were paid 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 payout ratio is 5.61%.

Insider Buying and Selling at Interface

In related news, CFO Bruce Andrew Hausmann sold 50,000 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total transaction of $1,483,000.00. Following the transaction, the chief financial officer directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David B. Foshee sold 44,393 shares of the stock in a transaction dated 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 completion of the sale, the vice president directly 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. The disclosure for this sale is available in the SEC filing. Company insiders own 2.47% of the company's stock.

Institutional Trading of Interface

A number of hedge funds have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Interface by 133.9% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker's stock worth $56,071,000 after purchasing an additional 1,149,733 shares during the period. UBS Group AG lifted its position in Interface by 413.8% in the 4th quarter. UBS Group AG now owns 499,035 shares of the textile maker's stock worth $13,933,000 after buying an additional 401,912 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in Interface by 273.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 386,828 shares of the textile maker's stock worth $10,800,000 after buying an additional 283,152 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Interface by 2,333.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker's stock valued at $7,845,000 after buying an additional 269,439 shares during the period. Finally, Clark Capital Management Group Inc. grew its holdings in shares of Interface by 67.9% during the 3rd quarter. Clark Capital Management Group Inc. now owns 623,295 shares of the textile maker's stock valued at $18,038,000 after acquiring an additional 252,157 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.

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