Interface (NASDAQ:TILE) Shares Gap Down – Should You Sell?

Interface, Inc. (NASDAQ:TILE)’s stock price gapped down before the market opened 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 traded.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TILE. StockNews.com raised shares of Interface from a “buy” rating to a “strong-buy” rating in a research note on Monday. Barrington Research reissued an “outperform” rating and issued a $30.00 target price on shares of Interface in a report on Tuesday, January 28th.

Interface Stock Performance

The company has a quick ratio of 1.38, a current ratio of 2.57 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 0.96 and a beta of 2.10. The stock’s 50-day simple moving average is $23.84 and its 200 day simple moving average is $21.91.

Interface (NASDAQ:TILE) last announced its earnings results on Tuesday, February 25th. The textile maker reported $0.34 EPS for the quarter, topping the consensus estimate of $0.29 by $0.05. Interface had a return on equity of 19.91% and a net margin of 6.49%. The business had revenue of $335.00 million for the quarter, compared to the consensus estimate of $340.51 million. During the same period in the previous year, the business earned $0.41 EPS. Interface’s revenue was up 3.0% compared to the same quarter last year. Analysts expect that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

Insider Activity

In other Interface news, Director Daniel T. Hendrix sold 12,500 shares of Interface stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $23.78, for a total transaction of $297,250.00. Following the transaction, the director now directly owns 103,647 shares in the company, valued at approximately $2,464,725.66. The trade was a 10.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David B. Foshee sold 15,175 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $26.27, for a total value 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 $5,316,995.46. This trade represents a 6.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,175 shares of company stock valued at $1,471,087. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning lifted its position in Interface by 24.7% in the 3rd quarter. Creative Planning now owns 22,720 shares of the textile maker’s stock valued at $431,000 after acquiring an additional 4,496 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Interface in the third quarter valued at about $790,000. New York State Teachers Retirement System boosted its position in shares of Interface by 1.6% during the third quarter. New York State Teachers Retirement System now owns 115,339 shares of the textile maker’s stock worth $2,188,000 after buying an additional 1,767 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Interface by 1,348.0% during the third quarter. Farther Finance Advisors LLC now owns 6,241 shares of the textile maker’s stock worth $118,000 after buying an additional 5,810 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Interface by 5.8% in the 3rd quarter. Principal Financial Group Inc. now owns 304,050 shares of the textile maker’s stock valued at $5,768,000 after buying an additional 16,624 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Interface Company Profile

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.