Research analysts at Piper Jaffray Companies started coverage on shares of Patterson Companies, Inc. (NASDAQ:PDCO) in a report issued on Thursday, October 19th, MarketBeat reports. The firm set a “neutral” rating and a $41.00 price target on the stock. Piper Jaffray Companies’ target price suggests a potential upside of 11.66% from the stock’s current price.
A number of other research analysts have also weighed in on the stock. Stifel Nicolaus lowered shares of Patterson Companies from a “hold” rating to a “sell” rating and cut their target price for the stock from $47.43 to $39.00 in a research report on Thursday, July 6th. BidaskClub lowered shares of Patterson Companies from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Zacks Investment Research upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Credit Suisse Group restated an “outperform” rating and set a $50.00 price objective (up previously from $45.00) on shares of Patterson Companies in a report on Thursday, July 13th. Finally, UBS AG upgraded shares of Patterson Companies from a “sell” rating to a “hold” rating and set a $40.00 price objective on the stock in a report on Friday, August 25th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Patterson Companies presently has a consensus rating of “Hold” and an average target price of $41.64.
Shares of Patterson Companies (NASDAQ PDCO) traded down 7.04% on Thursday, hitting $36.72. The stock had a trading volume of 5,353,681 shares. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 21.34 and a beta of 0.97. Patterson Companies has a 12-month low of $35.93 and a 12-month high of $49.26. The stock has a 50 day moving average price of $38.47 and a 200-day moving average price of $41.87.
Patterson Companies (NASDAQ:PDCO) last released its earnings results on Thursday, August 24th. The company reported $0.44 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.44. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.34 billion. Patterson Companies had a net margin of 2.93% and a return on equity of 15.51%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. On average, equities analysts expect that Patterson Companies will post $2.29 earnings per share for the current year.
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In other Patterson Companies news, CFO Ann B. Gugino sold 750 shares of the company’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $36.73, for a total transaction of $27,547.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in Patterson Companies by 27.8% during the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,300 shares of the company’s stock worth $104,000 after buying an additional 500 shares during the last quarter. Advisory Services Network LLC grew its stake in Patterson Companies by 423.4% during the second quarter. Advisory Services Network LLC now owns 2,523 shares of the company’s stock worth $118,000 after buying an additional 2,041 shares during the last quarter. Invictus RG bought a new stake in Patterson Companies during the first quarter worth about $119,000. Commonwealth Bank of Australia grew its stake in Patterson Companies by 15.9% during the second quarter. Commonwealth Bank of Australia now owns 3,027 shares of the company’s stock worth $140,000 after buying an additional 415 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Patterson Companies by 4.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,576 shares of the company’s stock worth $168,000 after buying an additional 150 shares during the last quarter. 88.75% of the stock is currently owned by hedge funds and other institutional investors.
Patterson Companies Company Profile
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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