Interface (NASDAQ:TILE) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Interface, Inc. (NASDAQ:TILE)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.80 and traded as high as $30.44. Interface shares last traded at $30.14, with a volume of 522,363 shares changing hands.

Wall Street Analysts Forecast Growth

TILE has been the subject of a number of recent analyst reports. Weiss Ratings upgraded shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 20th. Benchmark initiated coverage on shares of Interface in a report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 target price for the company. Barrington Research reiterated an “outperform” rating and set a $36.00 price objective on shares of Interface in a research note on Friday, April 17th. Finally, Wall Street Zen upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Interface has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Interface Trading Up 1.3%

The business’s 50-day moving average price is $27.71 and its 200 day moving average price is $28.80. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.43 and a quick ratio of 1.16. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.94 and a beta of 1.91.

Interface (NASDAQ:TILE) last posted its earnings results on Friday, May 8th. The textile maker reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. The business had revenue of $331.04 million for the quarter, compared to analysts’ expectations of $320.38 million. Interface had a net margin of 8.92% and a return on equity of 20.09%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. On average, equities analysts forecast that Interface, Inc. will post 2.11 earnings per share for the current fiscal year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Friday, June 5th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.12 annualized dividend and a yield of 0.4%. Interface’s dividend payout ratio is currently 5.61%.

Insider Buying and Selling at Interface

In related news, VP David B. Foshee sold 44,393 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $29.00, for a total value of $1,287,397.00. Following the sale, the vice president directly owned 175,014 shares of the company’s stock, valued at $5,075,406. This represents a 20.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the 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 sale, the chief financial officer directly owned 119,256 shares in the company, valued at $3,537,132.96. This trade represents a 29.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.47% of the company’s stock.

Institutional Trading of Interface

A number of large investors have recently modified their holdings of TILE. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Interface by 133.9% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,008,260 shares of the textile maker’s stock worth $56,071,000 after acquiring an additional 1,149,733 shares during the period. UBS Group AG increased its holdings in shares of 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 acquiring an additional 401,912 shares during the period. SG Capital Management LLC acquired a new stake in shares of Interface in the 3rd quarter worth about $8,753,000. Balyasny Asset Management L.P. increased its holdings in shares of 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 acquiring an additional 283,152 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Interface by 2,333.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 280,986 shares of the textile maker’s stock worth $7,845,000 after acquiring an additional 269,439 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.