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

Interface, Inc. (NASDAQ:TILE)’s stock price hit a new 52-week high on Thursday. The company traded as high as $40.84 and last traded at $39.7960, with a volume of 12,340 shares. The stock had previously closed at $40.16.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Zacks Research lowered Interface from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. Wall Street Zen cut shares of Interface from a “buy” rating to a “hold” rating in a research report on Saturday, October 31st. Weiss Ratings downgraded Interface from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, October 27th. Finally, Barrington Research raised their price objective on shares of Interface from $36.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Interface Price Performance

The stock’s 50-day simple moving average is $35.80 and its two-hundred day simple moving average is $32.26. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.53 and a quick ratio of 1.35. The firm has a market cap of $2.27 billion, a P/E ratio of 15.76, a PEG ratio of 1.07 and a beta of 2.08.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Friday, August 7th. The textile maker reported $0.88 EPS for the quarter, beating the consensus estimate of $0.64 by $0.24. The business had revenue of $395.70 million during the quarter, compared to analyst estimates of $391.22 million. Interface had a net margin of 10.10% and a return on equity of 21.77%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. Equities research analysts forecast that Interface, Inc. will post 2.36 earnings per share for the current fiscal year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, September 4th. Interface’s payout ratio is 4.86%.

Insider Transactions at Interface

In other news, CEO Laurel Hurd sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $36.42, for a total transaction of $254,940.00. Following the completion of the sale, the chief executive officer owned 492,978 shares in the company, valued at approximately $17,954,258.76. The trade was a 1.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David Foshee sold 28,451 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $35.99, for a total transaction of $1,023,951.49. Following the transaction, the vice president owned 146,563 shares of the company’s stock, valued at approximately $5,274,802.37. The trade was a 16.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 65,621 shares of company stock valued at $2,378,904. 2.47% of the stock is currently owned by company insiders.

Institutional Trading of Interface

Institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP acquired a new stake in Interface in the second quarter worth about $36,000. Public Employees Retirement System of Ohio acquired a new position in Interface during the second quarter worth $39,000. Farther Finance Advisors LLC lifted its position in shares of Interface by 39.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,271 shares of the textile maker’s stock worth $44,000 after purchasing an additional 357 shares during the last quarter. Nykredit A S acquired a new position in shares of Interface in the second quarter valued at $47,000. Finally, EverSource Wealth Advisors LLC raised its stake in Interface by 60.7% during the first quarter. EverSource Wealth Advisors LLC now owns 2,472 shares of the textile maker’s stock worth $62,000 after acquiring an additional 934 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

About Interface

Interface, Inc designs and manufactures modular flooring products for commercial, institutional and residential interiors. Its portfolio includes carpet tile, broadloom carpet and resilient flooring, including luxury vinyl tile. The company serves markets such as corporate offices, hospitality, education, healthcare and retail.

Founded in 1973 by Ray Anderson, Interface is headquartered in Atlanta, Georgia, and sells its products through a global network serving customers in North America, Europe and the Asia-Pacific region.