Is Major Move Coming For Pinnacle Foods Inc (PF) After This Ascending Triangle Chart Pattern?

September 17, 2017 - By Louis Casey

Investors sentiment decreased to 1.07 in Q4 2016. Its down 0.27, from 1.34 in 2016Q3. It is negative, 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.
Massachusetts Finance Ser Ma holds 0.03% or 1.34M shares. Keybank Association Oh has 10,330 shares. Waddell Reed Fincl owns 0.08% invested in Pinnacle Foods Inc (NYSE:PF) for 665,800 shares. 871,239 are owned by Balyasny Asset Lc. Clarivest Asset Mgmt Ltd Liability Company holds 0.57% or 398,205 shares. Price T Rowe Md accumulated 0.04% or 4.00 million shares. Spot Trading Ltd Limited Liability Company, a Illinois-based fund reported 2,015 shares. Alyeska Group Incorporated L P has 0.36% invested in Pinnacle Foods Inc (NYSE:PF) for 750,128 shares. Pacific Invest Management has invested 0.08% in Pinnacle Foods Inc (NYSE:PF). Investors has invested 0.1% in Pinnacle Foods Inc (NYSE:PF). Parkwood Limited Liability Corp has invested 0.04% of its portfolio in Pinnacle Foods Inc (NYSE:PF). 16,500 are held by Pacad Investment. Blackrock Institutional Tru Na accumulated 3.02 million shares. Moreover, Dimensional Fund Limited Partnership has 0.05% invested in Pinnacle Foods Inc (NYSE:PF). Deltec Asset Mngmt Llc holds 0.41% of its portfolio in Pinnacle Foods Inc (NYSE:PF) for 33,000 shares.

Since April 5, 2017, it had 0 buys, and 1 sale for $61,046 activity. $61,046 worth of Pinnacle Foods Inc (NYSE:PF) was sold by BARKLEY MICHAEL J. on Wednesday, April 5.

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 1.32M 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.

Wall Street await Pinnacle Foods Inc (NYSE:PF) to release earnings on October, 26. Analysts forecast EPS of $0.58, up exactly $0.05 or 9.43 % from 2014’s $0.53 EPS. The expected PF’s profit could reach $68.93M giving the stock 25.35 P/E in the case that $0.58 earnings per share is reported. After posting $0.53 EPS for the previous quarter, Pinnacle Foods Inc’s analysts now forecast 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. DA Davidson initiated the stock with “Neutral” rating in Friday, December 11 report. The company was maintained on Monday, June 26 by BMO Capital Markets. BMO Capital Markets maintained Pinnacle Foods Inc (NYSE:PF) on Wednesday, September 6 with “Buy” rating. The rating was maintained by DA Davidson with “Neutral” on Friday, July 29. UBS maintained Pinnacle Foods Inc (NYSE:PF) rating on Monday, August 28. UBS has “Buy” rating and $65.0 target. The firm has “Neutral” rating by Buckingham Research given on Monday, October 19. The rating was upgraded by Stifel Nicolaus on Friday, July 29 to “Buy”. The firm earned “Overweight” rating on Thursday, December 15 by JP Morgan. As per Friday, July 28, the company rating was maintained by BMO Capital Markets. The stock of Pinnacle Foods Inc (NYSE:PF) has “Buy” rating given on Wednesday, February 15 by Deutsche Bank.

More important recent Pinnacle Foods Inc (NYSE:PF) news were published by: Benzinga.com which released: “5 Ways M&A Could Be The Best Play For Pinnacle Foods” on August 28, 2017, also Nasdaq.com published article titled: “Pinnacle Foods, Inc. (PF) Ex-Dividend Date Scheduled for August 25, 2017”, Globenewswire.com published: “Pinnacle Foods to Present at Barclays Global Consumer Staples Conference” on August 30, 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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