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

Shares of Interface, Inc. (NASDAQ:TILE) reached a new 52-week high during trading on Monday . The company traded as high as $20.17 and last traded at $20.12, with a volume of 1363 shares. The stock had previously closed at $20.12.

Analysts Set New Price Targets

TILE has been the subject of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Interface in a report on Friday, September 20th. StockNews.com raised Interface from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th.

Interface Trading Down 4.3 %

The company has a market cap of $1.08 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 0.97 and a beta of 1.97. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.76 and a quick ratio of 1.45. The business’s 50-day simple moving average is $18.46 and its 200-day simple moving average is $16.66.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Friday, August 2nd. The textile maker reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. Interface had a net margin of 5.20% and a return on equity of 18.42%. The business had revenue of $346.60 million during the quarter, compared to analysts’ expectations of $340.21 million. During the same period last year, the company posted $0.25 EPS. The company’s revenue was up 5.2% on a year-over-year basis. Research analysts predict that Interface, Inc. will post 1.28 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend was Friday, August 30th. Interface’s payout ratio is currently 3.96%.

Insider Buying and Selling

In other Interface news, CFO Bruce Andrew Hausmann sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total transaction of $935,000.00. Following the sale, the chief financial officer now directly owns 198,475 shares of the company’s stock, valued at $3,374,075. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Daniel T. Hendrix sold 3,555 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $17.53, for a total value of $62,319.15. Following the completion of the transaction, the director now directly owns 191,147 shares in the company, valued at approximately $3,350,806.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Bruce Andrew Hausmann sold 55,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $17.00, for a total value of $935,000.00. Following the completion of the sale, the chief financial officer now directly owns 198,475 shares in the company, valued at approximately $3,374,075. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,858 shares of company stock worth $1,363,947. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in Interface during the second quarter worth approximately $32,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Interface during the 1st quarter valued at $57,000. nVerses Capital LLC acquired a new stake in shares of Interface during the 3rd quarter worth $70,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Interface in the 2nd quarter worth $91,000. Finally, Point72 DIFC Ltd acquired a new position in Interface in the second quarter valued at $106,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

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.