Interface, Inc. (NASDAQ:TILE) Short Interest Down 15.6% in April

Interface, Inc. (NASDAQ:TILE) was the target of a significant drop in short interest in the month of 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. Based on an average trading volume of 399,700 shares, the days-to-cover ratio is presently 2.4 days. Approximately 1.7% of the company’s shares are sold short.

Institutional Investors Weigh In On Interface

A number of hedge funds and other institutional investors have recently bought and sold shares of TILE. Allspring Global Investments Holdings LLC acquired a new position in shares of Interface during the first quarter worth $57,000. GAMMA Investing LLC raised its stake in Interface by 131.1% in the first quarter. GAMMA Investing LLC now owns 3,943 shares of the textile maker’s stock valued at $66,000 after buying an additional 2,237 shares during the last quarter. Aristeia Capital LLC acquired a new stake in Interface in the third quarter worth about $101,000. Olympiad Research LP purchased a new stake in shares of Interface during the third quarter worth about $141,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Interface by 86.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,235 shares of the textile maker’s stock valued at $149,000 after acquiring an additional 7,052 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Interface Stock Up 2.0 %

Shares of NASDAQ TILE opened at $15.61 on Friday. Interface has a 12-month low of $6.51 and a 12-month high of $18.47. The stock’s fifty day simple moving average is $15.59 and its two-hundred day simple moving average is $12.71. The stock has a market capitalization of $908.50 million, a PE ratio of 20.54, a price-to-earnings-growth ratio of 0.97 and a beta of 1.98. The company has a current ratio of 2.72, a quick ratio of 1.42 and a debt-to-equity ratio of 0.96.

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

Interface Dividend Announcement

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

Analyst Upgrades and Downgrades

TILE has been the topic of several research reports. Barrington Research started coverage on Interface in a report on Monday, April 15th. They set an “outperform” rating and a $20.00 price objective on the stock. TheStreet upgraded shares of Interface from a “c” rating to a “b-” rating in a report on Tuesday, February 27th. Finally, Truist Financial raised their target price on shares of Interface from $10.00 to $14.00 and gave the company a “hold” rating in a research 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.