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

Interface, Inc. (NASDAQ:TILE - Get Free Report) was the target of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 3,330,000 shares, an increase of 35.4% from the May 15th total of 2,460,000 shares. Based on an average trading volume of 487,400 shares, the days-to-cover ratio is currently 6.8 days. Approximately 5.9% of the company's stock are sold short.

Interface Stock Performance

NASDAQ TILE traded up $0.05 during trading on Friday, reaching $20.12. 683,788 shares of the company's stock were exchanged, compared to its average volume of 501,623. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.76 and a quick ratio of 1.42. The business has a 50 day moving average price of $19.79 and a 200-day moving average price of $21.50. The stock has a market capitalization of $1.18 billion, a P/E ratio of 13.88, a PEG ratio of 0.85 and a beta of 1.98. Interface has a fifty-two week low of $14.13 and a fifty-two week high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last posted its earnings results on Friday, May 2nd. The textile maker reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.04. Interface had a return on equity of 17.73% and a net margin of 6.48%. The business had revenue of $297.41 million for the quarter, compared to analyst estimates of $297.11 million. During the same period in the previous year, the firm earned $0.24 EPS. The firm's revenue was up 2.7% compared to the same quarter last year. Sell-side analysts forecast that Interface will post 1.37 earnings per share for the current fiscal year.

Interface Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Friday, May 30th. Interface's dividend payout ratio is presently 2.76%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TILE shares. Wall Street Zen raised shares of Interface from a "hold" rating to a "buy" rating in a research note on Saturday, May 10th. Barrington Research reiterated an "outperform" rating and issued a $30.00 price target on shares of Interface in a research note on Friday, May 2nd.

Insider Activity at Interface

In other Interface news, VP James Poppens sold 19,474 shares of the firm'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 trade represents a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by company insiders.

Institutional Trading of Interface

Several hedge funds and other institutional investors have recently modified their holdings of TILE. Venturi Wealth Management LLC lifted its position in Interface by 204.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker's stock worth $27,000 after acquiring an additional 750 shares during the last quarter. Huntington National Bank bought a new position in shares of Interface during the fourth quarter worth approximately $28,000. Smartleaf Asset Management LLC lifted its holdings in Interface by 78.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker's stock worth $30,000 after purchasing an additional 546 shares during the last quarter. Principal Securities Inc. lifted its holdings in Interface by 103.1% during the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker's stock worth $36,000 after purchasing an additional 741 shares during the last quarter. Finally, Virtus Fund Advisers LLC bought a new stake in Interface in the 4th quarter valued at $48,000. Institutional investors 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.