Interface, Inc. (NASDAQ:TILE) Short Interest Update

Interface, Inc. (NASDAQ:TILE) saw a significant drop in short interest in April. As of April 15th, there was short interest totalling 953,400 shares, a drop of 15.6% from the March 31st total of 1,130,000 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily volume of 399,700 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. First Hawaiian Bank boosted its stake in shares of Interface by 3.8% in the first quarter. First Hawaiian Bank now owns 36,890 shares of the textile maker’s stock valued at $620,000 after buying an additional 1,353 shares during the period. Swiss National Bank boosted its holdings in shares of Interface by 1.5% in the 3rd quarter. Swiss National Bank now owns 127,500 shares of the textile maker’s stock valued at $1,251,000 after purchasing an additional 1,900 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Interface by 131.1% in the 1st quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock valued at $66,000 after purchasing an additional 2,237 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of Interface by 3.8% during the 3rd quarter. Independent Advisor Alliance now owns 67,510 shares of the textile maker’s stock worth $662,000 after buying an additional 2,476 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Interface by 21.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,465 shares of the textile maker’s stock worth $233,000 after buying an additional 3,230 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Interface Stock Performance

NASDAQ TILE traded down $0.43 during trading on Tuesday, reaching $15.33. 308,808 shares of the company’s stock were exchanged, compared to its average volume of 375,182. Interface has a fifty-two week low of $6.51 and a fifty-two week high of $18.47. The business has a 50 day moving average price of $15.63 and a 200-day moving average price of $12.77. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.72 and a quick ratio of 1.42. The stock has a market capitalization of $892.21 million, a P/E ratio of 20.74, a PEG ratio of 0.99 and a beta of 1.98.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Tuesday, February 27th. The textile maker reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.19. Interface had a net margin of 3.53% and a return on equity of 14.95%. The firm had revenue of $325.10 million during the quarter, compared to the consensus estimate of $320.16 million. During the same period last year, the business posted $0.31 earnings per share. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. Sell-side analysts forecast that Interface will post 1.05 earnings per share for the current fiscal year.

Interface Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.26%. The ex-dividend date was Wednesday, March 27th. Interface’s dividend payout ratio (DPR) is 5.26%.

Analyst Upgrades and Downgrades

Several analysts recently commented on TILE shares. Barrington Research initiated coverage on Interface in a research note on Monday, April 15th. They set an “outperform” rating and a $20.00 price objective on the stock. TheStreet raised Interface from a “c” rating to a “b-” rating in a research note on Tuesday, February 27th. Finally, Truist Financial boosted their price target on Interface from $10.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, February 28th.

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.