Industria de Diseno Textil SA (OTCMKTS:IDEXY) Sees Large Growth in Short Interest

Key Points

• Short interest surged 291.6% in July to 335,841 shares from 85,767 shares, though it represented approximately 0.0% of outstanding shares and only 0.4 days of average trading volume.
• Barclays upgraded Inditex from “hold” to “strong buy,” contributing to a consensus analyst rating of “Buy” from five analysts.
• IDEXY opened at $16.65, down 1.6%, while its latest quarterly results met EPS estimates at $0.13 and exceeded revenue expectations with $10.23 billion.

Industria de Diseno Textil SA (OTCMKTS:IDEXY - Get Free Report) was the recipient of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 335,841 shares, a growth of 291.6% from the July 15th total of 85,767 shares. Approximately 0.0% of the company's shares are sold short. Based on an average daily volume of 793,653 shares, the days-to-cover ratio is currently 0.4 days.

Analysts Set New Price Targets

Separately, Barclays raised shares of Industria de Diseno Textil from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

Industria de Diseno Textil Trading Down 1.6%

IDEXY stock opened at $16.65 on Thursday. The company has a market capitalization of $207.57 billion, a PE ratio of 28.22, a P/E/G ratio of 2.77 and a beta of 0.95. Industria de Diseno Textil has a 12-month low of $11.98 and a 12-month high of $17.34. The business's fifty day moving average price is $16.01 and its 200 day moving average price is $15.66.

Industria de Diseno Textil (OTCMKTS:IDEXY - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. The company had revenue of $10.23 billion during the quarter, compared to analysts' expectations of $10.11 billion. Industria de Diseno Textil had a return on equity of 33.65% and a net margin of 15.60%. Research analysts predict that Industria de Diseno Textil will post 0.63 EPS for the current fiscal year.

Industria de Diseno Textil Company Profile

Industria de Diseno Textil, SA (commonly known as Inditex) is a Spanish multinational apparel company headquartered in Arteixo, Galicia. The group was established in the mid-1980s and traces its roots to the founding of the Zara retail concept by Amancio Ortega and Rosalía Mera in 1975. Inditex is one of the world's largest fashion retailers and is known for its fast-fashion business model that emphasizes rapid design-to-retail cycles and frequent merchandise turnover.

Inditex designs, produces, distributes and sells a wide range of clothing, accessories and home textiles through a portfolio of well-known brands, including Zara, Massimo Dutti, Pull&Bear, Bershka, Stradivarius, Oysho and Zara Home.

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