Interface (NASDAQ:TILE) Hits New 1-Year High – Still a Buy?

Interface, Inc. (NASDAQ:TILE)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $26.44 and last traded at $26.38, with a volume of 68358 shares. The stock had previously closed at $25.46.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barrington Research raised their price objective on shares of Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. StockNews.com downgraded Interface from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th.

Interface Trading Down 1.1 %

The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The business’s fifty day moving average is $20.96 and its 200 day moving average is $17.96. The stock has a market cap of $1.55 billion, a PE ratio of 18.76, a P/E/G ratio of 1.29 and a beta of 1.97.

Interface (NASDAQ:TILE) last posted its quarterly earnings results on Friday, November 1st. The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.14. The company had revenue of $344.30 million during the quarter, compared to the consensus estimate of $336.39 million. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS. As a group, analysts predict that Interface, Inc. will post 1.37 earnings per share for the current year.

Interface Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 is Friday, November 29th. Interface’s dividend payout ratio (DPR) is 2.80%.

Insider Transactions at Interface

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

Institutional Investors Weigh In On Interface

A number of large investors have recently bought and sold shares of TILE. SG Americas Securities LLC lifted its position in shares of Interface by 1,195.5% in the second quarter. SG Americas Securities LLC now owns 84,647 shares of the textile maker’s stock valued at $1,243,000 after acquiring an additional 78,113 shares in the last quarter. Private Advisor Group LLC acquired a new position in Interface in the 3rd quarter valued at about $790,000. Renaissance Technologies LLC boosted its stake in shares of Interface by 11.0% during the 2nd quarter. Renaissance Technologies LLC now owns 345,400 shares of the textile maker’s stock worth $5,070,000 after purchasing an additional 34,200 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Interface by 46.5% during the second quarter. First Eagle Investment Management LLC now owns 176,617 shares of the textile maker’s stock worth $2,593,000 after buying an additional 56,093 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Interface by 107.2% in the second quarter. Victory Capital Management Inc. now owns 182,620 shares of the textile maker’s stock valued at $2,681,000 after buying an additional 94,499 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

About Interface

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.