Interface (NASDAQ:TILE) Reaches New 12-Month High at $18.52

Interface, Inc. (NASDAQ:TILE)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $18.52 and last traded at $18.52, with a volume of 152235 shares changing hands. The stock had previously closed at $17.79.

Wall Street Analysts Forecast Growth

TILE has been the topic of a number of recent analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $22.00 price target on shares of Interface in a research note on Friday, August 2nd. StockNews.com upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 6th.

Interface Price Performance

The company has a market cap of $1.10 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 0.93 and a beta of 2.00. The company has a fifty day simple moving average of $16.07 and a two-hundred day simple moving average of $15.63. The company has a quick ratio of 1.30, a current ratio of 2.72 and a debt-to-equity ratio of 0.89.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, August 2nd. The textile maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.12. The firm had revenue of $346.60 million for the quarter, compared to analysts’ expectations of $340.21 million. Interface had a net margin of 4.73% and a return on equity of 16.94%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS. On average, equities research analysts anticipate that Interface, Inc. will post 1.18 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. Interface’s dividend payout ratio is currently 3.96%.

Insider Buying and Selling at Interface

In related news, Director Daniel T. Hendrix sold 12,500 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $15.05, for a total transaction of $188,125.00. Following the sale, the director now owns 258,647 shares of the company’s stock, valued at $3,892,637.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Daniel T. Hendrix sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $15.05, for a total transaction of $188,125.00. Following the transaction, the director now owns 258,647 shares of the company’s stock, valued at $3,892,637.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel T. Hendrix sold 3,555 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $17.53, for a total transaction of $62,319.15. Following the sale, the director now owns 191,147 shares in the company, valued at approximately $3,350,806.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,358 shares of company stock worth $2,279,729. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Interface

Institutional investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC increased its position in Interface by 7.4% during the first quarter. ProShare Advisors LLC now owns 11,576 shares of the textile maker’s stock worth $195,000 after purchasing an additional 794 shares during the last quarter. First Hawaiian Bank grew its stake in shares of Interface by 3.8% during the 1st quarter. First Hawaiian Bank now owns 36,890 shares of the textile maker’s stock valued at $620,000 after buying an additional 1,353 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Interface by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,103 shares of the textile maker’s stock worth $324,000 after buying an additional 1,368 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Interface by 13.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,825 shares of the textile maker’s stock valued at $218,000 after acquiring an additional 1,770 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Interface by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,431 shares of the textile maker’s stock valued at $916,000 after acquiring an additional 2,073 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Interface Company Profile

Interface, Inc designs, produces, and sells modular carpet products primarily worldwide. The company operates in two segments, Americas (AMS), and Europe, Africa, Asia and Australia (EAAA). The company offers modular carpets under the Interface and FLOR brand names; luxury vinyl tiles; carpet tiles under the CQuestGB name for use in commercial interiors, include offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; and modular resilient flooring products.