Short Interest in Interface, Inc. (NASDAQ:TILE) Expands By 65.5%

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on TILE shares. StockNews.com upgraded shares of Interface from a “buy” rating to a “strong-buy” rating in a report on Monday, February 24th. Barrington Research reissued an “outperform” rating and set a $30.00 price objective on shares of Interface in a research note on Tuesday, February 25th.

Insider Activity

In related news, Director Daniel T. Hendrix sold 18,000 shares of Interface stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $26.33, for a total transaction of $473,940.00. Following the sale, the director now directly owns 153,147 shares in the company, valued at $4,032,360.51. The trade was a 10.52 % decrease in their ownership of the stock. 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 on Wednesday, December 4th. The stock was sold at an average price of $26.27, for a total value of $398,647.25. Following the completion of the sale, the vice president now directly owns 202,398 shares in the company, valued at approximately $5,316,995.46. The trade was a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,175 shares of company stock valued at $1,471,087. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hood River Capital Management LLC purchased a new position in Interface in the 4th quarter worth approximately $28,897,000. Nuveen Asset Management LLC increased its holdings in shares of Interface by 170.3% in the 4th quarter. Nuveen Asset Management LLC now owns 641,730 shares of the textile maker’s stock worth $15,626,000 after purchasing an additional 404,277 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Interface by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 6,116,464 shares of the textile maker’s stock worth $148,936,000 after purchasing an additional 246,726 shares during the last quarter. Foundry Partners LLC bought a new position in shares of Interface during the third quarter valued at $4,308,000. Finally, Barclays PLC boosted its position in shares of Interface by 688.5% during the third quarter. Barclays PLC now owns 256,987 shares of the textile maker’s stock valued at $4,873,000 after buying an additional 224,395 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Interface Stock Down 5.6 %

TILE stock traded down $1.14 on Monday, reaching $19.09. 902,571 shares of the company traded hands, compared to its average volume of 486,287. The firm has a fifty day simple moving average of $23.31 and a 200-day simple moving average of $22.01. The company has a market cap of $1.11 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 0.96 and a beta of 2.10. Interface has a one year low of $14.13 and a one year high of $27.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38.

Interface (NASDAQ:TILE) last issued its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. The firm had revenue of $335.00 million during the quarter, compared to the consensus estimate of $340.51 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $0.41 earnings per share. Research analysts anticipate that Interface will post 1.37 earnings per share for the current year.

Interface Company Profile

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.