Interface, Inc. (NASDAQ:TILE) Sees Large Increase in Short Interest

Interface, Inc. (NASDAQ:TILE - Get Free Report) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 3,550,000 shares, an increase of 20.3% from the February 28th total of 2,950,000 shares. Currently, 6.3% of the company's shares are sold short. Based on an average daily volume of 576,600 shares, the days-to-cover ratio is presently 6.2 days.

Analyst Ratings Changes

Several research firms recently issued reports on TILE. Barrington Research reissued an "outperform" rating and set a $30.00 target price on shares of Interface in a research note on Tuesday, February 25th. StockNews.com downgraded shares of Interface from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th.

Interface Stock Down 1.9 %

NASDAQ TILE traded down $0.35 during trading hours on Monday, hitting $18.02. 245,344 shares of the company were exchanged, compared to its average volume of 543,292. The company has a 50 day moving average of $21.01 and a two-hundred day moving average of $22.20. 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 firm has a market cap of $1.05 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.96 and a beta of 1.93. Interface has a 52-week low of $14.13 and a 52-week high of $27.34.

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Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.05. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company had revenue of $335.00 million during the quarter, compared to the consensus estimate of $340.51 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The firm's quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Interface will post 1.37 earnings per share for the current year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 28th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. Interface's dividend payout ratio is currently 2.72%.

Insider Transactions at Interface

In related news, Director Daniel T. Hendrix sold 7,500 shares of Interface stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $19.95, for a total value of $149,625.00. Following the completion of the sale, the director now owns 96,147 shares in the company, valued at approximately $1,918,132.65. This trade represents a 7.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On Interface

Several hedge funds and other institutional investors have recently made changes to their positions in TILE. Versant Capital Management Inc raised its holdings in Interface by 49.6% during the first quarter. Versant Capital Management Inc now owns 2,458 shares of the textile maker's stock worth $49,000 after purchasing an additional 815 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Interface in the fourth quarter valued at $1,123,000. Mackenzie Financial Corp boosted its stake in Interface by 10.4% in the fourth quarter. Mackenzie Financial Corp now owns 38,188 shares of the textile maker's stock valued at $930,000 after acquiring an additional 3,598 shares in the last quarter. PharVision Advisers LLC purchased a new position in shares of Interface during the fourth quarter worth about $223,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Interface by 32.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,370 shares of the textile maker's stock worth $3,467,000 after purchasing an additional 35,001 shares in 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.