Interface (NASDAQ:TILE) Shares Gap Up on Earnings Beat

Interface, Inc. (NASDAQ:TILE - Get Free Report)'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 traded.

The textile maker reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. Interface had a net margin of 6.49% and a return on equity of 19.91%. The business had revenue of $297.41 million for the quarter, compared to the consensus estimate of $297.11 million. During the same quarter in the prior year, the company earned $0.24 EPS. The firm's quarterly revenue was up 2.7% on a year-over-year basis.

Interface Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.01 dividend. The ex-dividend date was Friday, March 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. Interface's payout ratio is 2.76%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Interface from a "hold" rating to a "buy" rating in a research note on Monday, April 28th. Barrington Research restated an "outperform" rating and set a $30.00 target price on shares of Interface in a report on Friday, May 2nd.

Insiders Place Their Bets

In other Interface news, Director Daniel T. Hendrix sold 7,500 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $19.95, for a total transaction of $149,625.00. Following the transaction, the director now owns 96,147 shares of the company's stock, 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 Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.30% of the company's stock.

Institutional Trading of Interface

Hedge funds have recently modified their holdings of the stock. Congress Asset Management Co. acquired a new position in shares of Interface in the first quarter valued at approximately $44,969,000. Hood River Capital Management LLC acquired a new stake in Interface in the 4th quarter worth about $28,897,000. Pacer Advisors Inc. acquired a new stake in shares of Interface in the first quarter valued at approximately $8,635,000. Nuveen Asset Management LLC increased its stake in Interface by 170.3% during the 4th quarter. Nuveen Asset Management LLC now owns 641,730 shares of the textile maker's stock worth $15,626,000 after acquiring an additional 404,277 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Interface by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 6,116,464 shares of the textile maker's stock worth $148,936,000 after purchasing an additional 246,726 shares during the period. Institutional investors and hedge funds own 98.34% of the company's stock.

Interface Price Performance

The firm has a market cap of $1.15 billion, a P/E ratio of 13.75, a PEG ratio of 0.96 and a beta of 1.95. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 1.38. The company's 50-day moving average is $19.06 and its two-hundred day moving average is $22.14.

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.