Interface, Inc. (TILE) Short Interest Update
Interface, Inc. (NASDAQ:TILE) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 757,417 shares, a drop of 23.3% from the October 31st total of 987,896 shares. Based on an average daily volume of 495,249 shares, the short-interest ratio is currently 1.5 days. Currently, 1.3% of the shares of the company are sold short.
Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Interface from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Saturday, October 28th. Nomura raised their price objective on shares of Interface from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Finally, Stifel Nicolaus restated a “hold” rating and set a $23.00 price objective on shares of Interface in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $23.50.
In related news, Director Christopher G. Kennedy sold 29,500 shares of Interface stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $21.92, for a total transaction of $646,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel T. Hendrix sold 27,000 shares of Interface stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $22.95, for a total value of $619,650.00. The disclosure for this sale can be found here. Insiders have sold 92,450 shares of company stock valued at $2,018,267 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Westwood Holdings Group Inc. raised its position in shares of Interface by 5.3% in the second quarter. Westwood Holdings Group Inc. now owns 3,120,601 shares of the textile maker’s stock valued at $61,256,000 after buying an additional 157,800 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in Interface by 0.7% during the third quarter. Frontier Capital Management Co. LLC now owns 2,803,740 shares of the textile maker’s stock valued at $61,402,000 after purchasing an additional 20,239 shares in the last quarter. FMR LLC raised its position in Interface by 14.8% during the second quarter. FMR LLC now owns 2,452,630 shares of the textile maker’s stock valued at $48,194,000 after purchasing an additional 315,606 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Interface by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,447,960 shares of the textile maker’s stock valued at $48,102,000 after purchasing an additional 7,975 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Interface by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 2,143,358 shares of the textile maker’s stock valued at $46,939,000 after purchasing an additional 31,189 shares in the last quarter. Hedge funds and other institutional investors own 93.13% of the company’s stock.
Shares of Interface (NASDAQ TILE) opened at $25.25 on Thursday. The company has a current ratio of 2.51, a quick ratio of 1.40 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1,530.00, a P/E ratio of 22.46 and a beta of 1.32. Interface has a 1 year low of $16.80 and a 1 year high of $25.70.
Interface (NASDAQ:TILE) last issued its quarterly earnings data on Wednesday, October 25th. The textile maker reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The firm had revenue of $257.43 million during the quarter, compared to the consensus estimate of $255.63 million. Interface had a net margin of 5.53% and a return on equity of 21.39%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $0.25 earnings per share. sell-side analysts anticipate that Interface will post 1.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Shareholders of record on Friday, November 10th were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $0.26 annualized dividend and a yield of 1.03%. Interface’s dividend payout ratio (DPR) is presently 30.23%.
Interface Inc is engaged in design, production and sale of modular carpet, also known as carpet tile. As of January 1, 2017, the Company marketed its modular carpets in over 110 countries under the brand names Interface and FLOR. The Company operates through three segments: Americas, Europe and Asia-Pacific.
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