Interface (NASDAQ:TILE) Hits New 52-Week High – Here’s Why

Interface, Inc. (NASDAQ:TILE) reached a new 52-week high on Monday . The stock traded as high as $26.44 and last traded at $26.38, with a volume of 68358 shares changing hands. The stock had previously closed at $25.46.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barrington Research increased their price target on shares of Interface from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. StockNews.com lowered shares of Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th.

Interface Stock Down 1.1 %

The business has a 50-day simple moving average of $20.96 and a 200-day simple moving average of $17.96. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.29 and a beta of 1.97.

Interface (NASDAQ:TILE) last issued its earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.14. Interface had a net margin of 6.49% and a return on equity of 19.91%. The firm had revenue of $344.30 million for the quarter, compared to analysts’ expectations of $336.39 million. During the same quarter last year, the company earned $0.28 earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. On average, equities analysts anticipate that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend is Friday, November 29th. Interface’s dividend payout ratio (DPR) is presently 2.80%.

Insiders Place Their Bets

In related news, CFO Bruce Andrew Hausmann sold 30,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $25.50, for a total value of $765,000.00. Following the completion of the sale, the chief financial officer now directly owns 168,475 shares of the company’s stock, valued at $4,296,112.50. The trade was a 15.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stansfield Nigel sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total value of $482,400.00. Following the transaction, the vice president now directly owns 144,355 shares in the company, valued at approximately $3,481,842.60. The trade was a 12.17 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Interface by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,298,736 shares of the textile maker’s stock worth $89,125,000 after acquiring an additional 43,184 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Interface by 1.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,892,968 shares of the textile maker’s stock worth $42,469,000 after purchasing an additional 31,224 shares during the period. Dimensional Fund Advisors LP grew its position in Interface by 10.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock worth $39,507,000 after purchasing an additional 247,350 shares during the last quarter. State Street Corp increased its stake in Interface by 0.6% in the third quarter. State Street Corp now owns 2,232,327 shares of the textile maker’s stock valued at $42,347,000 after purchasing an additional 13,686 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Interface by 22.3% in the second quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock valued at $22,951,000 after buying an additional 285,353 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.