Short Interest in Interface, Inc. (NASDAQ:TILE) Declines By 28.3%

Interface, Inc. (NASDAQ:TILE - Get Free Report) was the recipient of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 2,460,000 shares, a drop of 28.3% from the April 30th total of 3,430,000 shares. Based on an average daily trading volume, of 555,300 shares, the days-to-cover ratio is presently 4.4 days. Currently, 4.3% of the shares of the company are short sold.

Insider Transactions at Interface

In other Interface news, VP James Poppens sold 19,474 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $20.14, for a total value of $392,206.36. Following the completion of the transaction, the vice president now directly owns 130,142 shares in the company, valued at $2,621,059.88. This represents a 13.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TILE. Barclays PLC lifted its holdings in shares of Interface by 688.5% in the 3rd quarter. Barclays PLC now owns 256,987 shares of the textile maker's stock worth $4,873,000 after acquiring an additional 224,395 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Interface in the 4th quarter worth about $322,000. Jennison Associates LLC raised its position in Interface by 103.2% in the 4th quarter. Jennison Associates LLC now owns 65,494 shares of the textile maker's stock worth $1,595,000 after purchasing an additional 33,264 shares during the period. MeadowBrook Investment Advisors LLC bought a new stake in Interface in the fourth quarter worth about $257,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Interface during the fourth quarter valued at approximately $228,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barrington Research reissued an "outperform" rating and set a $30.00 price target on shares of Interface in a research note on Friday, May 2nd. Wall Street Zen raised Interface from a "hold" rating to a "buy" rating in a report on Saturday, May 10th.

Interface Price Performance

Shares of NASDAQ:TILE traded down $0.05 on Thursday, reaching $20.08. The company's stock had a trading volume of 286,118 shares, compared to its average volume of 503,108. The company has a 50-day simple moving average of $19.47 and a 200 day simple moving average of $21.92. Interface has a 52-week low of $14.13 and a 52-week high of $27.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. The company has a market cap of $1.18 billion, a P/E ratio of 14.04, a PEG ratio of 0.96 and a beta of 1.95.

Interface (NASDAQ:TILE - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The textile maker reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. Interface had a return on equity of 19.91% and a net margin of 6.49%. The company had revenue of $297.41 million for the quarter, compared to analysts' expectations of $297.11 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that Interface will post 1.37 EPS for the current fiscal year.

Interface Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, May 30th. This represents a $0.04 annualized dividend and a yield of 0.20%. Interface's payout ratio is presently 2.76%.

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.