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

Interface, Inc. (NASDAQ:TILE) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 2,780,000 shares, an increase of 65.5% from the January 31st total of 1,680,000 shares. Approximately 4.9% of the shares of the company are sold short. Based on an average daily trading volume, of 494,100 shares, the short-interest ratio is presently 5.6 days.

Interface Stock Performance

TILE traded down $1.14 during midday trading on Monday, reaching $19.09. The company had a trading volume of 902,571 shares, compared to its average volume of 486,287. The business has a 50-day moving average of $23.31 and a two-hundred day moving average of $22.01. The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. Interface has a 1 year low of $14.13 and a 1 year high of $27.34. The company has a market cap of $1.11 billion, a P/E ratio of 13.35, a P/E/G ratio of 0.96 and a beta of 2.10.

Interface (NASDAQ:TILE) last released its earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $340.51 million. During the same period in the prior year, the firm posted $0.41 EPS. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts predict that Interface will post 1.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TILE shares. Barrington Research restated an “outperform” rating and set a $30.00 target price on shares of Interface in a research report on Tuesday, February 25th. StockNews.com raised shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 24th.

Insider Buying and Selling at Interface

In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $24.10, for a total transaction of $301,250.00. Following the completion of the sale, the director now directly owns 116,147 shares in the company, valued at $2,799,142.70. The trade was a 9.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP David B. Foshee sold 15,175 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total transaction of $398,647.25. Following the sale, the vice president now directly owns 202,398 shares of the company’s stock, valued at $5,316,995.46. The trade was a 6.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,175 shares of company stock worth $1,471,087. Insiders own 2.60% of the company’s stock.

Institutional Trading of Interface

Several institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning increased its stake in Interface by 24.7% in the 3rd quarter. Creative Planning now owns 22,720 shares of the textile maker’s stock worth $431,000 after buying an additional 4,496 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Interface during the third quarter worth about $790,000. New York State Teachers Retirement System raised its stake in Interface by 1.6% during the 3rd quarter. New York State Teachers Retirement System now owns 115,339 shares of the textile maker’s stock valued at $2,188,000 after purchasing an additional 1,767 shares during the period. Farther Finance Advisors LLC lifted its holdings in Interface by 1,348.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,241 shares of the textile maker’s stock worth $118,000 after purchasing an additional 5,810 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Interface by 5.8% in the 3rd quarter. Principal Financial Group Inc. now owns 304,050 shares of the textile maker’s stock worth $5,768,000 after purchasing an additional 16,624 shares during the period. 98.34% of the stock is currently owned by 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.