Interface (NASDAQ:TILE) Shares Gap Down - Here's What Happened

Interface, Inc. (NASDAQ:TILE - Get Free Report)'s stock 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 changing hands.

Analysts Set New Price Targets

TILE has been the subject of several recent analyst reports. Barrington Research restated an "outperform" rating and set a $30.00 target price on shares of Interface in a research note on Tuesday. StockNews.com upgraded Interface from a "buy" rating to a "strong-buy" rating in a report on Monday.

Interface Stock Performance

The company's fifty day simple moving average is $23.43 and its two-hundred day simple moving average is $21.92. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 0.96 and a beta of 2.10. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.38 and a current ratio of 2.57.

Interface (NASDAQ:TILE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The textile maker reported $0.34 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $340.51 million. During the same period last year, the firm earned $0.41 earnings per share. The company's revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts predict that Interface, Inc. will post 1.37 earnings per share for the current fiscal year.

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Insider Activity at Interface

In other news, Director Daniel T. Hendrix sold 12,500 shares of Interface stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $24.10, for a total value of $301,250.00. Following the completion of the transaction, the director now directly owns 116,147 shares of the company's stock, valued at approximately $2,799,142.70. The trade was a 9.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP David B. Foshee sold 15,175 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $26.27, for a total transaction of $398,647.25. Following the sale, the vice president now directly owns 202,398 shares of the company's stock, valued at approximately $5,316,995.46. This represents a 6.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,175 shares of company stock valued at $1,471,087. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Interface

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC acquired a new stake in shares of Interface during the 3rd quarter worth approximately $790,000. HighTower Advisors LLC bought a new position in Interface during the 3rd quarter worth $1,138,000. Sanctuary Advisors LLC bought a new stake in Interface in the third quarter valued at $1,661,000. BNP Paribas Financial Markets boosted its holdings in shares of Interface by 13.3% during the third quarter. BNP Paribas Financial Markets now owns 29,555 shares of the textile maker's stock valued at $561,000 after acquiring an additional 3,464 shares during the period. Finally, FMR LLC grew its position in shares of Interface by 138.8% during the third quarter. FMR LLC now owns 95,215 shares of the textile maker's stock worth $1,806,000 after acquiring an additional 55,345 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.