Short Interest in Interface, Inc. (NASDAQ:TILE) Expands By 35.4%

Interface, Inc. (NASDAQ:TILE - Get Free Report) was the recipient of a large increase in short interest in 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. Approximately 5.9% of the shares of the stock are short sold. Based on an average trading volume of 487,400 shares, the short-interest ratio is presently 6.8 days.

Interface Price Performance

Shares of Interface stock opened at $20.39 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The business's 50 day simple moving average is $19.74 and its two-hundred day simple moving average is $21.57. The stock has a market capitalization of $1.20 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 0.96 and a beta of 1.98. Interface has a one year low of $14.13 and a one year high of $27.34.

Interface (NASDAQ:TILE - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The textile maker reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.04. The business had revenue of $297.41 million for the quarter, compared to analysts' expectations of $297.11 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The business's quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 EPS. Analysts forecast that Interface will post 1.37 EPS for the current year.

Interface Dividend Announcement

The firm 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. The ex-dividend date was Friday, May 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. Interface's dividend payout ratio (DPR) is presently 2.76%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wall Street Zen raised Interface from a "hold" rating to a "buy" rating in a research note on Saturday, May 10th. Barrington Research reaffirmed an "outperform" rating and issued a $30.00 target price on shares of Interface in a research note on Friday, May 2nd.

Insider Buying and Selling 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 sale, the vice president now owns 130,142 shares of the company's stock, valued at $2,621,059.88. This represents a 13.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.30% of the company's stock.

Hedge Funds Weigh In On Interface

Hedge funds have recently made changes to their positions in the business. Venturi Wealth Management LLC increased its stake in shares of Interface by 204.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker's stock valued at $27,000 after buying an additional 750 shares during the period. Huntington National Bank purchased a new position in shares of Interface during the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC increased its stake in shares of Interface by 78.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker's stock valued at $30,000 after buying an additional 546 shares during the period. Principal Securities Inc. increased its stake in shares of Interface by 103.1% during the fourth quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker's stock valued at $36,000 after buying an additional 741 shares during the period. Finally, Virtus Fund Advisers LLC purchased a new position in shares of Interface during the fourth quarter valued at approximately $48,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.

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