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

Interface, Inc. (NASDAQ:TILE) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,130,000 shares, a drop of 29.8% from the March 15th total of 1,610,000 shares. Based on an average daily volume of 348,900 shares, the days-to-cover ratio is currently 3.2 days. Currently, 2.0% of the company’s shares are short sold.

Institutional Investors Weigh In On Interface

Several hedge funds have recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its stake in Interface by 2.9% in the 4th quarter. LPL Financial LLC now owns 31,475 shares of the textile maker’s stock worth $311,000 after purchasing an additional 892 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Interface by 2.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,527 shares of the textile maker’s stock valued at $380,000 after purchasing an additional 942 shares in the last quarter. First Republic Investment Management Inc. increased its stake in Interface by 7.8% during the 4th quarter. First Republic Investment Management Inc. now owns 13,667 shares of the textile maker’s stock valued at $135,000 after purchasing an additional 994 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Interface by 5.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 19,077 shares of the textile maker’s stock valued at $167,000 after purchasing an additional 1,031 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Interface by 0.8% during the 4th quarter. Legal & General Group Plc now owns 145,065 shares of the textile maker’s stock valued at $1,432,000 after purchasing an additional 1,084 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

Interface Stock Down 2.3 %

Interface stock traded down $0.37 during trading hours on Friday, hitting $15.43. 401,330 shares of the stock traded hands, compared to its average volume of 579,858. The firm’s 50-day moving average price is $15.13 and its two-hundred day moving average price is $12.29. The company has a current ratio of 2.72, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96. The company has a market cap of $898.03 million, a PE ratio of 20.30 and a beta of 1.98. Interface has a one year low of $6.51 and a one year high of $18.47.

Interface (NASDAQ:TILE) last posted its quarterly earnings data on Tuesday, February 27th. The textile maker reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.19. Interface had a return on equity of 14.95% and a net margin of 3.53%. The business had revenue of $325.10 million for the quarter, compared to analysts’ expectations of $320.16 million. During the same period in the previous year, the firm posted $0.31 EPS. The business’s revenue was down 3.1% on a year-over-year basis. On average, research analysts forecast that Interface will post 1.02 EPS for the current year.

Interface Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Truist Financial raised their target price on Interface from $10.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. TheStreet raised Interface from a “c” rating to a “b-” rating in a research report on Tuesday, February 27th.

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.