After Forming Bearish Ascending Triangle, Is Pinnacle Foods Inc (PF)’s Near-Term Analysis Negative?

September 17, 2017 - By Vivian Park

Investors sentiment decreased to 1.07 in 2016 Q4. Its down 0.27, from 1.34 in 2016Q3. It fall, as 30 investors sold Pinnacle Foods Inc shares while 101 reduced holdings. 31 funds opened positions while 109 raised stakes. 113.24 million shares or 0.42% more from 112.77 million shares in 2016Q3 were reported.
Glenmede Tru Co Na reported 1,217 shares. Oppenheimer Inc, a New York-based fund reported 5,700 shares. 78,978 are owned by Train Babcock Advsrs Lc. Atlantic Gp Lc has 0% invested in Pinnacle Foods Inc (NYSE:PF) for 11,850 shares. Pioneer Inv Mgmt reported 613,360 shares stake. California Employees Retirement System owns 152,000 shares for 0.01% of their portfolio. Cubist Systematic Strategies Limited Liability Corp owns 8,531 shares or 0.04% of their US portfolio. Estabrook Cap Mgmt reported 300 shares. Keybank Natl Association Oh owns 10,330 shares. Commonwealth Equity reported 0.01% in Pinnacle Foods Inc (NYSE:PF). Hsbc Hldg Public Ltd stated it has 186,889 shares. Lpl Fin Lc invested in 0% or 8,778 shares. Argi Invest Services Ltd Company has invested 0.07% of its portfolio in Pinnacle Foods Inc (NYSE:PF). Allianz Asset Mngmt Ag owns 1.35M shares or 0.06% of their US portfolio. Winfield Inc, Ohio-based fund reported 25 shares.

Since April 5, 2017, it had 0 insider buys, and 1 insider sale for $61,046 activity. BARKLEY MICHAEL J. had sold 1,048 shares worth $61,046.

The stock of Pinnacle Foods Inc (PF) formed an ascending triangle with $54.70 target or 7.00 % below today’s $58.82 share price. The 6 months triangle pattern indicates high risk for the $6.99B company. If the $54.70 price target is reached, the company will be worth $489.30M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 0.53% or $0.31 on September 15, reaching $58.82. About 1.32 million shares traded or 26.92% up from the average. Pinnacle Foods Inc (NYSE:PF) has risen 41.67% since September 17, 2016 and is uptrending. It has outperformed by 24.97% the S&P500.

Analysts expect Pinnacle Foods Inc (NYSE:PF) to report $0.58 EPS on October, 26.They anticipate $0.05 EPS change or 9.43 % from last quarter’s $0.53 EPS. PF’s profit would be $68.93M giving it 25.35 P/E if the $0.58 EPS is correct. After having $0.53 EPS previously, Pinnacle Foods Inc’s analysts see 9.43 % EPS growth.

Pinnacle Foods Inc (NYSE:PF) Ratings Coverage

Among 13 analysts covering Pinnacle Foods Inc (NYSE:PF), 12 have Buy rating, 0 Sell and 1 Hold. Therefore 92% are positive. Pinnacle Foods Inc had 23 analyst reports since October 19, 2015 according to SRatingsIntel. RBC Capital Markets maintained Pinnacle Foods Inc (NYSE:PF) on Wednesday, November 25 with “Outperform” rating. The stock of Pinnacle Foods Inc (NYSE:PF) earned “Overweight” rating by JP Morgan on Thursday, December 15. BMO Capital Markets maintained the stock with “Market Perform” rating in Friday, October 30 report. The firm earned “Buy” rating on Friday, July 28 by BMO Capital Markets. The stock of Pinnacle Foods Inc (NYSE:PF) has “Buy” rating given on Tuesday, August 15 by Stifel Nicolaus. The stock of Pinnacle Foods Inc (NYSE:PF) has “Neutral” rating given on Wednesday, February 24 by UBS. The rating was initiated by Jefferies with “Buy” on Tuesday, April 11. The rating was maintained by RBC Capital Markets with “Buy” on Tuesday, July 25. The rating was maintained by DA Davidson on Friday, July 29 with “Neutral”. On Wednesday, March 2 the stock rating was upgraded by Buckingham Research to “Buy”.

More important recent Pinnacle Foods Inc (NYSE:PF) news were published by: Globenewswire.com which released: “Pinnacle Foods to Present at Barclays Global Consumer Staples Conference” on August 30, 2017, also Benzinga.com published article titled: “5 Ways M&A Could Be The Best Play For Pinnacle Foods”, Nasdaq.com published: “Pinnacle Foods, Inc. (PF) Ex-Dividend Date Scheduled for August 25, 2017” on August 24, 2017. More interesting news about Pinnacle Foods Inc (NYSE:PF) was released by: Nasdaq.com and their article: “Pinnacle Foods (PF) Gains on Buyouts, Weak Segments a Woe” with publication date: September 05, 2017.

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