Interface (NASDAQ:TILE) Reaches New 52-Week High – Here’s What Happened

Interface, Inc. (NASDAQ:TILE) shares 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

TILE has been the topic of several analyst reports. StockNews.com cut Interface from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Barrington Research upped their price objective on shares of Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, November 1st.

Interface Stock Up 4.5 %

The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.24 and a beta of 1.97. The firm has a 50 day moving average of $20.64 and a 200 day moving average of $17.81. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66.

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

Interface Announces Dividend

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

Insiders Place Their Bets

In related news, VP Stansfield Nigel sold 20,000 shares of Interface stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $24.12, for a total transaction of $482,400.00. Following the transaction, the vice president now owns 144,355 shares of the company’s stock, valued at $3,481,842.60. The trade was a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Bruce Andrew Hausmann sold 30,000 shares of the firm’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 transaction, the chief financial officer now owns 168,475 shares in the company, 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TILE. Sanctuary Advisors LLC bought a new stake in Interface in the third quarter worth about $1,661,000. Geode Capital Management LLC raised its holdings in shares of Interface by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,371,976 shares of the textile maker’s stock worth $26,031,000 after purchasing an additional 11,931 shares during the period. Barclays PLC lifted its stake in Interface by 688.5% in the third quarter. Barclays PLC now owns 256,987 shares of the textile maker’s stock valued at $4,873,000 after purchasing an additional 224,395 shares during the last quarter. iSAM Funds UK Ltd bought a new position in Interface during the third quarter valued at $301,000. Finally, National Bank of Canada FI increased its position in Interface by 33.7% in the third quarter. National Bank of Canada FI now owns 3,399 shares of the textile maker’s stock worth $64,000 after buying an additional 856 shares during the last quarter. Hedge funds and other institutional investors 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.