Interface (NASDAQ:TILE) Shares Cross 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 Thursday . The stock has a 200-day moving average of $29.10 and traded as high as $32.68. Interface shares last traded at $32.56, with a volume of 1,322,715 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Interface from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 20th. Wall Street Zen upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Benchmark started 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. Finally, Barrington Research reiterated an “outperform” rating and set a $36.00 target price on shares of Interface in a research note on Friday, April 17th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Interface Price Performance

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 company has a 50 day moving average price of $28.84 and a 200 day moving average price of $29.10. The firm has a market cap of $1.89 billion, a PE ratio of 15.22, a PEG ratio of 0.98 and a beta of 1.91.

Interface (NASDAQ:TILE) last issued its quarterly 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. Interface had a return on equity of 20.09% and a net margin of 8.92%.The firm had revenue of $331.04 million during the quarter, compared to the consensus estimate of $320.38 million. During the same period last year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Sell-side analysts expect that Interface, Inc. will post 2.11 EPS for the current fiscal 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 paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, June 5th. Interface’s dividend payout ratio (DPR) is 5.61%.

Insider Activity

In other news, VP David B. Foshee sold 44,393 shares of Interface stock in a transaction dated 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 owned 175,014 shares of the company’s stock, valued at $5,075,406. The trade was a 20.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the business’s stock in a transaction dated 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 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. Additional details regarding this sale are available in the official SEC disclosure. 2.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Interface

Several institutional investors and hedge funds have recently added to or reduced their stakes in TILE. CIBC Private Wealth Group LLC raised its stake in shares of Interface by 180.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 981 shares of the textile maker’s stock worth $27,000 after buying an additional 631 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Interface by 114.6% in the third quarter. Larson Financial Group LLC now owns 1,176 shares of the textile maker’s stock valued at $34,000 after buying an additional 628 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Interface in the second quarter valued at approximately $35,000. Wexford Capital LP acquired a new position in Interface during the third quarter worth $43,000. Finally, Blue Trust Inc. grew its holdings in Interface by 88.3% during the fourth quarter. Blue Trust Inc. now owns 2,199 shares of the textile maker’s stock worth $61,000 after acquiring an additional 1,031 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.