Interface, Inc. (NASDAQ:TILE) Short Interest Down 20.7% in December

Interface, Inc. (NASDAQ:TILE) was the target of a significant decline in short interest in December. As of December 15th, there was short interest totaling 2,845,929 shares, a decline of 20.7% from the November 30th total of 3,588,713 shares. Approximately 5.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 347,330 shares, the days-to-cover ratio is presently 8.2 days. Based on an average daily trading volume, of 347,330 shares, the days-to-cover ratio is presently 8.2 days. Approximately 5.0% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TILE shares. Weiss Ratings cut Interface from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, December 24th. Barrington Research reiterated an “outperform” rating and issued a $32.00 price objective on shares of Interface in a research report on Friday, October 31st. Zacks Research upgraded Interface from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Finally, Wall Street Zen lowered Interface from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Interface has an average rating of “Buy” and an average target price of $32.00.

Institutional Investors Weigh In On Interface

Several institutional investors and hedge funds have recently made changes to their positions in TILE. Congress Asset Management Co. raised its stake in Interface by 2.9% during the 3rd quarter. Congress Asset Management Co. now owns 2,544,381 shares of the textile maker’s stock worth $73,634,000 after buying an additional 70,840 shares during the period. American Century Companies Inc. grew its position in Interface by 5.5% during the third quarter. American Century Companies Inc. now owns 2,412,549 shares of the textile maker’s stock valued at $69,819,000 after buying an additional 126,263 shares during the period. Geode Capital Management LLC increased its position in Interface by 0.7% in the second quarter. Geode Capital Management LLC now owns 1,433,183 shares of the textile maker’s stock worth $30,000,000 after buying an additional 10,537 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Interface by 5.9% in the first quarter. Goldman Sachs Group Inc. now owns 748,701 shares of the textile maker’s stock worth $14,854,000 after purchasing an additional 42,011 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in shares of Interface by 2.1% during the third quarter. Qube Research & Technologies Ltd now owns 646,357 shares of the textile maker’s stock worth $18,706,000 after acquiring an additional 13,095 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

Interface Stock Up 0.6%

Shares of TILE stock opened at $28.64 on Tuesday. Interface has a twelve month low of $17.24 and a twelve month high of $30.20. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.70 and a current ratio of 2.89. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.03 and a beta of 1.94. The stock’s 50 day simple moving average is $27.26 and its 200 day simple moving average is $25.73.

Interface (NASDAQ:TILE) last posted its earnings results on Friday, October 31st. The textile maker reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.15. Interface had a net margin of 8.27% and a return on equity of 19.30%. The company had revenue of $364.53 million during the quarter, compared to analysts’ expectations of $358.19 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. Interface’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, research analysts predict that Interface will post 1.37 EPS for the current year.

Interface Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, November 28th. Interface’s dividend payout ratio (DPR) is 4.17%.

Interface Company Profile

Interface, Inc (NASDAQ: TILE) is a global manufacturer of modular flooring and resilient commercial flooring solutions. The company specializes in carpet tiles, luxury vinyl tile (LVT) and other environmentally responsible hard-surface products designed for use in corporate, education, healthcare, hospitality and retail environments. Interface’s portfolio also includes broadloom carpet, rubber flooring and acoustic underlays, all engineered to meet performance, design and sustainability requirements in modern interior spaces.

Founded in 1973 by Ray C.