Interface (NASDAQ:TILE) Sets New 12-Month High on Better-Than-Expected Earnings

Shares of Interface, Inc. (NASDAQ:TILE) reached a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $22.69 and last traded at $22.25, with a volume of 248789 shares traded. The stock had previously closed at $17.47.

The textile maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.14. Interface had a return on equity of 18.42% and a net margin of 5.20%. The company had revenue of $344.30 million for the quarter, compared to analyst estimates of $336.39 million. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis.

Interface Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.01 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.17%. Interface’s payout ratio is 3.57%.

Analysts Set New Price Targets

TILE has been the topic of several recent research reports. Barrington Research raised their target price on shares of Interface from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday. StockNews.com raised Interface from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 6th.

Insider Activity at Interface

In other news, CFO Bruce Andrew Hausmann sold 55,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total transaction of $935,000.00. Following the completion of the sale, the chief financial officer now owns 198,475 shares of the company’s stock, valued at $3,374,075. This represents a 0.00 % 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. In other Interface news, CFO Bruce Andrew Hausmann sold 55,000 shares of Interface stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $17.00, for a total value of $935,000.00. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel T. Hendrix sold 3,555 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $17.53, for a total value of $62,319.15. Following the transaction, the director now directly owns 191,147 shares of the company’s stock, valued at $3,350,806.91. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,458 shares of company stock worth $1,339,433 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Interface

Several institutional investors have recently added to or reduced their stakes in TILE. Hennessy Advisors Inc. acquired a new position in Interface during the 2nd quarter worth approximately $7,430,000. American Century Companies Inc. raised its holdings in shares of Interface by 22.3% in the 2nd quarter. American Century Companies Inc. now owns 1,563,447 shares of the textile maker’s stock worth $22,951,000 after acquiring an additional 285,353 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Interface by 10.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,691,190 shares of the textile maker’s stock worth $39,507,000 after acquiring an additional 247,350 shares in the last quarter. Gendell Jeffrey L grew its stake in Interface by 1,041.8% in the 1st quarter. Gendell Jeffrey L now owns 250,363 shares of the textile maker’s stock valued at $4,211,000 after purchasing an additional 228,435 shares during the period. Finally, Algert Global LLC bought a new position in shares of Interface during the 2nd quarter worth $1,828,000. 98.34% of the stock is currently owned by institutional investors.

Interface Price Performance

The business’s fifty day simple moving average is $18.64 and its 200-day simple moving average is $16.80. The firm has a market cap of $1.35 billion, a P/E ratio of 20.75, a PEG ratio of 0.93 and a beta of 1.97. The company has a current ratio of 2.76, a quick ratio of 1.45 and a debt-to-equity ratio of 0.84.

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.