What Next for Interface, Inc. (TILE) After Forming Double Bottom Chart Pattern?

September 8, 2018 - By Mary Kidd

Interface, Inc. (NASDAQ:TILE) Logo

Investors sentiment decreased to 1.1 in Q1 2018. Its down 0.07, from 1.17 in 2017Q4. It dived, as 13 investors sold Interface, Inc. shares while 65 reduced holdings. 31 funds opened positions while 55 raised stakes. 50.91 million shares or 2.23% less from 52.07 million shares in 2017Q4 were reported.
Ls Invest Advisors reported 4,008 shares. Moreover, Assetmark Inc has 0% invested in Interface, Inc. (NASDAQ:TILE). Hbk Investments Lp has 17,500 shares. Arizona State Retirement owns 93,659 shares. Jpmorgan Chase & Company, New York-based fund reported 199,213 shares. Kennedy reported 167,118 shares. First Quadrant Ltd Partnership Ca reported 69,234 shares stake. Point72 Asia (Hong Kong) has 50 shares for 0% of their portfolio. Pinebridge Investments Limited Partnership holds 11,936 shares or 0.01% of its portfolio. Parkside State Bank And Tru invested in 0% or 50 shares. Frontier Capital Ltd Llc has 2.77M shares for 0.51% of their portfolio. Moreover, Sg Americas Ltd Co has 0% invested in Interface, Inc. (NASDAQ:TILE). Wells Fargo Mn stated it has 0.01% of its portfolio in Interface, Inc. (NASDAQ:TILE). Bessemer Gru Inc reported 27,400 shares or 0% of all its holdings. Proshare Advsrs owns 9,474 shares for 0% of their portfolio.

The chart of Interface, Inc. (TILE) shows a double bottom with $22.85 target or 4.00 % below today’s $23.80 share price. The 7 months chart pattern indicates high risk for the $1.42B company. It was reported on Sep, 8 by Finviz.com. If the $22.85 price target is reached, the company will be worth $56.64M less. Double bottoms are rare but powerful chart patterns.

It closed at $23.8 lastly. It is down 11.22% since September 8, 2017 and is uptrending. It has underperformed by 1.35% the S&P500.

Analysts await Interface, Inc. (NASDAQ:TILE) to report earnings on October, 24. They expect $0.40 EPS, up 25.00 % or $0.08 from last year’s $0.32 per share. TILE’s profit will be $23.80M for 14.88 P/E if the $0.40 EPS becomes a reality. After $0.42 actual EPS reported by Interface, Inc. for the previous quarter, Wall Street now forecasts -4.76 % negative EPS growth.

Interface, Inc. designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific. The company has market cap of $1.42 billion. It offers modular carpets under the Interface and FLOR brands; carpet tiles under the GlasBacRE brand name for use in commercial interiors, including offices, healthcare facilities, airports, educational and other institutions, hospitality spaces, and retail facilities, as well as residential interiors; modular resilient flooring products; and luxury vinyl tile products. It has a 24.04 P/E ratio. The firm also provides an adapted version of its carpet tile for the healthcare facilities market; and two-meter roll goods that are structure-backed for use in education, healthcare, and government markets, as well as carpet replacement, installation, and maintenance services.

Interface, Inc. (NASDAQ:TILE) Institutional Positions Chart

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