Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Interface (Nasdaq: IFSIA) jumped as much as 20% in early trading after the company reported earnings and got an upgrade from an analyst.

So what: In the first quarter, revenue declined 5.2% to $232.8 million and earnings per share were $0.10, both in line with estimates. Raymond James raised its rating on the company to outperform from a market perform rating, which can be a big driver for small-cap stocks.

Now what: Revenue and earnings were down year over year, something I don't see as a great sign for any company. Management said that business picked up in the second quarter, but I just don't see a reason to buy into Interface here. The stock trades at 15 times forward earnings estimates; after the company missed earnings estimates in three of the last four quarters, I'm staying away from this stock.

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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

The Motley Fool owns shares of Interface. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.