Interface (NASDAQ:TILE) Shares Gap Up on Better-Than-Expected Earnings

Interface, Inc. (NASDAQ:TILE)’s share price gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $18.85, but opened at $20.03. Interface shares last traded at $19.04, with a volume of 59,099 shares.

The textile maker reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The business had revenue of $297.41 million during the quarter, compared to analysts’ expectations of $297.11 million. Interface had a return on equity of 19.91% and a net margin of 6.49%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.24 earnings per share.

Interface Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Friday, March 28th. Interface’s payout ratio is 2.72%.

Analysts Set New Price Targets

Several analysts recently issued reports on TILE shares. Barrington Research reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Interface in a research note on Friday. StockNews.com upgraded Interface from a “hold” rating to a “buy” rating in a research report on Monday, April 28th.

Insider Activity at Interface

In other Interface news, Director Daniel T. Hendrix sold 7,500 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $19.95, for a total value of $149,625.00. Following the transaction, the director now directly owns 96,147 shares in the company, valued at $1,918,132.65. The trade was a 7.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TILE. Venturi Wealth Management LLC lifted its stake in shares of Interface by 204.4% in the 4th quarter. Venturi Wealth Management LLC now owns 1,117 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 750 shares during the last quarter. Huntington National Bank purchased a new stake in Interface in the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC lifted its position in Interface by 78.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,242 shares of the textile maker’s stock valued at $30,000 after buying an additional 546 shares during the last quarter. Principal Securities Inc. boosted its stake in Interface by 103.1% during the fourth quarter. Principal Securities Inc. now owns 1,460 shares of the textile maker’s stock worth $36,000 after buying an additional 741 shares during the period. Finally, Virtus Fund Advisers LLC acquired a new stake in shares of Interface during the fourth quarter valued at about $48,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Interface Stock Performance

The firm’s fifty day moving average price is $19.07 and its 200 day moving average price is $22.15. The company has a current ratio of 2.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 0.96 and a beta of 1.93.

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.