Interface (NASDAQ:TILE) Shares Gap Down – Here’s What Happened

Interface, Inc. (NASDAQ:TILE)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $21.31, but opened at $19.80. Interface shares last traded at $18.55, with a volume of 74,978 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. StockNews.com raised shares of Interface from a “buy” rating to a “strong-buy” rating in a research report on Monday. Barrington Research reissued an “outperform” rating and set a $30.00 price target on shares of Interface in a research report on Tuesday, January 28th.

Interface Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57. The company has a market capitalization of $1.09 billion, a P/E ratio of 13.05, a PEG ratio of 0.96 and a beta of 2.10. The stock’s fifty day moving average price is $23.84 and its 200-day moving average price is $21.91.

Interface (NASDAQ:TILE) last issued its quarterly earnings data on Tuesday, February 25th. The textile maker reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.05. Interface had a net margin of 6.49% and a return on equity of 19.91%. The company had revenue of $335.00 million for the quarter, compared to analyst estimates of $340.51 million. During the same period in the prior year, the firm earned $0.41 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. As a group, research analysts anticipate that Interface, Inc. will post 1.37 EPS for the current fiscal year.

Insider Transactions at Interface

In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $23.78, for a total transaction of $297,250.00. Following the transaction, the director now owns 103,647 shares in the company, valued at $2,464,725.66. This represents a 10.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David B. Foshee sold 15,175 shares of Interface stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 approximately $5,316,995.46. The trade was a 6.97 % 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 corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC grew its stake in Interface by 204.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock worth $27,000 after buying an additional 750 shares in the last quarter. Huntington National Bank bought a new stake in shares of Interface during the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC increased its position in Interface by 78.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock worth $30,000 after purchasing an additional 546 shares in the last quarter. Principal Securities Inc. increased its position in Interface by 103.1% during the 4th quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock worth $36,000 after purchasing an additional 741 shares in the last quarter. Finally, Quarry LP lifted its stake 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 during the last quarter. Institutional investors own 98.34% of the company’s stock.

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.