Interface Inc. (NASDAQ:TILE) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 1,316,402 shares, an increase of 38.3% from the October 31st total of 951,897 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average trading volume of 521,610 shares, the short-interest ratio is presently 2.5 days.
Interface (NASDAQ:TILE) opened at 17.85 on Tuesday. Interface has a 12 month low of $13.70 and a 12 month high of $20.67. The firm’s 50-day moving average is $16.72 and its 200-day moving average is $16.69. The firm has a market cap of $1.16 billion, a PE ratio of 17.25 and a beta of 1.28.
Interface (NASDAQ:TILE) last issued its earnings results on Wednesday, October 26th. The company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.07. The business had revenue of $248.30 million for the quarter, compared to analyst estimates of $251.55 million. Interface had a return on equity of 18.80% and a net margin of 7.01%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the company posted $0.31 earnings per share. Equities analysts expect that Interface will post $1.01 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 25th. Shareholders of record on Friday, November 11th were issued a dividend of $0.06 per share. The ex-dividend date was Tuesday, November 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.33%. Interface’s dividend payout ratio (DPR) is 22.86%.
A number of analysts recently commented on the stock. Seaport Global Securities assumed coverage on shares of Interface in a report on Friday, November 4th. They set a “buy” rating and a $18.00 price objective on the stock. Zacks Investment Research downgraded shares of Interface from a “hold” rating to a “sell” rating in a report on Tuesday, November 1st. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.50.
In related news, insider Patrick C. Lynch sold 6,000 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $18.00, for a total transaction of $108,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Daniel T. Hendrix sold 3,000 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $17.70, for a total transaction of $53,100.00. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in Interface by 0.4% in the first quarter. State Street Corp now owns 1,397,073 shares of the company’s stock worth $25,898,000 after buying an additional 5,927 shares during the period. UBS Group AG boosted its stake in Interface by 1,118.4% in the first quarter. UBS Group AG now owns 38,111 shares of the company’s stock worth $707,000 after buying an additional 34,983 shares during the period. Goldman Sachs Group Inc. boosted its stake in Interface by 153.8% in the first quarter. Goldman Sachs Group Inc. now owns 123,607 shares of the company’s stock worth $2,292,000 after buying an additional 74,900 shares during the period. Barclays PLC purchased a new stake in Interface during the first quarter worth $1,185,000. Finally, Panagora Asset Management Inc. boosted its stake in Interface by 860.6% in the first quarter. Panagora Asset Management Inc. now owns 293,780 shares of the company’s stock worth $5,447,000 after buying an additional 263,196 shares during the period. 94.10% of the stock is currently owned by institutional investors.