Interface, Inc. (NASDAQ:TILE) Short Interest Up 65.5% in February

Interface, Inc. (NASDAQ:TILE) was the recipient of a significant 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 stock are sold short. Based on an average daily volume of 494,100 shares, the days-to-cover ratio is currently 5.6 days.

Wall Street Analyst Weigh In

TILE has been the subject of a number of recent research reports. StockNews.com upgraded Interface from a “buy” rating to a “strong-buy” rating in a report on Monday, February 24th. Barrington Research reiterated an “outperform” rating and issued a $30.00 target price on shares of Interface in a report on Tuesday, February 25th.

Insider Activity at Interface

In other Interface news, VP David B. Foshee sold 15,175 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $26.27, for a total transaction of $398,647.25. Following the completion of the sale, the vice president now owns 202,398 shares of the company’s stock, valued at $5,316,995.46. This trade represents a 6.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel T. Hendrix sold 18,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $26.33, for a total value of $473,940.00. Following the transaction, the director now owns 153,147 shares of the company’s stock, valued at approximately $4,032,360.51. This represents a 10.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,175 shares of company stock valued at $1,471,087. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Interface

Institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its position in Interface by 204.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock valued at $27,000 after acquiring an additional 750 shares during the period. Huntington National Bank purchased a new stake in Interface in the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC boosted its holdings in Interface by 78.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 546 shares in the last quarter. Principal Securities Inc. boosted its holdings in Interface by 103.1% in the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock valued at $36,000 after purchasing an additional 741 shares in the last quarter. Finally, Quarry LP boosted its holdings in Interface by 499.5% in the 3rd quarter. Quarry LP now owns 2,476 shares of the textile maker’s stock valued at $47,000 after purchasing an additional 2,063 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Interface Stock Up 3.2 %

Interface stock traded up $0.62 during midday trading on Friday, reaching $20.23. The company’s stock had a trading volume of 771,540 shares, compared to its average volume of 475,614. The business has a 50-day simple moving average of $23.43 and a 200-day simple moving average of $21.96. 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 fifty-two week low of $14.13 and a fifty-two week high of $27.34. The company has a market cap of $1.18 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.96 and a beta of 2.10.

Interface (NASDAQ:TILE) last posted its earnings results on Tuesday, February 25th. The textile maker reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. Interface had a return on equity of 19.91% and a net margin of 6.49%. The business had revenue of $335.00 million for the quarter, compared to analysts’ expectations of $340.51 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. On average, research analysts expect that Interface will post 1.37 earnings per share for the current fiscal 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.