Interface (NASDAQ:TILE) Sets New 12-Month High – What’s Next?

Interface, Inc. (NASDAQ:TILE) hit a new 52-week high during trading on Wednesday . The company traded as high as $36.10 and last traded at $36.1970, with a volume of 1801 shares traded. The stock had previously closed at $35.84.

Wall Street Analyst Weigh In

TILE has been the subject of several analyst reports. Benchmark initiated coverage on shares of Interface in a research note on Tuesday, May 19th. They issued a “buy” rating and a $36.00 target price for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Interface in a report on Wednesday, June 17th. Wall Street Zen raised shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Zacks Research upgraded shares of Interface from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Barrington Research reissued an “outperform” rating and set a $36.00 target price on shares of Interface in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $36.00.

Interface Price Performance

The firm has a market capitalization of $2.07 billion, a PE ratio of 16.67, a PEG ratio of 1.14 and a beta of 1.88. The stock has a 50-day moving average price of $30.27 and a 200 day moving average price of $29.58. The company has a quick ratio of 1.16, a current ratio of 2.43 and a debt-to-equity ratio of 0.30.

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

Interface Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend 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 currently 5.61%.

Insider Activity

In other Interface news, 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 completion of the sale, the vice president directly owned 175,014 shares in the company, valued at approximately $5,075,406. The trade was a 20.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the 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 directly owned 119,256 shares of the company’s stock, valued at $3,537,132.96. The trade was a 29.54% decrease in their position. The SEC filing for this sale provides additional information. 2.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Interface

Several hedge funds and other institutional investors have recently made changes to their positions in TILE. Dimensional Fund Advisors LP increased its position in shares of Interface by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,689,857 shares of the textile maker’s stock worth $75,105,000 after purchasing an additional 36,530 shares in the last quarter. Congress Asset Management Co. lifted its holdings in Interface by 3.3% in the 4th quarter. Congress Asset Management Co. now owns 2,629,174 shares of the textile maker’s stock valued at $73,407,000 after purchasing an additional 84,793 shares in the last quarter. American Century Companies Inc. boosted its stake in Interface by 5.5% during the 3rd quarter. American Century Companies Inc. now owns 2,412,549 shares of the textile maker’s stock worth $69,819,000 after purchasing an additional 126,263 shares during the last quarter. State Street Corp boosted its stake in Interface by 0.7% during the 4th quarter. State Street Corp now owns 2,192,472 shares of the textile maker’s stock worth $61,214,000 after purchasing an additional 14,764 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew 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 buying an additional 1,149,733 shares in the last quarter. Hedge funds and other institutional investors 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.