Interface (NASDAQ:TILE) Stock Passes Above 200-Day Moving Average – What’s Next?

Interface, Inc. (NASDAQ:TILE)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $29.10 and traded as high as $32.68. Interface shares last traded at $32.56, with a volume of 1,322,715 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TILE shares. Benchmark initiated coverage on Interface in a research report on Tuesday, May 19th. They issued a “buy” rating and a $36.00 target price on the stock. Wall Street Zen upgraded Interface from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “buy (b-)” rating on shares of Interface in a research note on Wednesday. Finally, Barrington Research reissued an “outperform” rating and issued a $36.00 price objective on shares of Interface in a research note on Friday, April 17th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Interface presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Interface Stock Performance

The company has a market cap of $1.89 billion, a PE ratio of 15.22, a PEG ratio of 1.03 and a beta of 1.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 2.43. The firm’s 50 day moving average is $28.96 and its 200-day moving average is $29.13.

Interface (NASDAQ:TILE) last released its earnings results on Friday, May 8th. The textile maker reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. The business had revenue of $331.04 million for the quarter, compared to analyst estimates of $320.38 million. Interface had a net margin of 8.92% and a return on equity of 20.09%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. On average, research analysts anticipate that Interface, Inc. will post 2.11 earnings per share for the current fiscal year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Friday, June 5th were given a dividend of $0.03 per share. The ex-dividend date was Friday, June 5th. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. Interface’s dividend payout ratio (DPR) is presently 5.61%.

Insiders Place Their Bets

In other Interface news, VP David B. Foshee sold 44,393 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $29.00, for a total transaction of $1,287,397.00. Following the transaction, the vice president owned 175,014 shares of the company’s stock, valued at approximately $5,075,406. The trade was a 20.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Bruce Andrew Hausmann sold 50,000 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $29.66, for a total value of $1,483,000.00. Following the completion of the sale, the chief financial officer directly owned 119,256 shares of the company’s stock, valued at $3,537,132.96. This trade represents a 29.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.47% of the company’s stock.

Institutional Investors Weigh In On Interface

Several hedge funds and other institutional investors have recently bought and sold shares of TILE. Edgestream Partners L.P. purchased a new position in Interface during the first quarter worth about $3,257,000. Janus Henderson Group PLC grew its stake in shares of Interface by 195.0% in the 1st quarter. Janus Henderson Group PLC now owns 75,021 shares of the textile maker’s stock valued at $1,869,000 after buying an additional 49,590 shares during the period. Amundi grew its stake in shares of Interface by 18.4% in the 1st quarter. Amundi now owns 9,225 shares of the textile maker’s stock valued at $230,000 after buying an additional 1,435 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Interface by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,472 shares of the textile maker’s stock worth $62,000 after buying an additional 934 shares during the last quarter. Finally, Quantinno Capital Management LP increased its holdings in shares of Interface by 31.1% during the 1st quarter. Quantinno Capital Management LP now owns 30,754 shares of the textile maker’s stock worth $766,000 after buying an additional 7,292 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Interface Company Profile

Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.