Patterson Companies, Inc. (PDCO) Earns “Buy” Rating from Robert W. Baird
Patterson Companies, Inc. (NASDAQ:PDCO)‘s stock had its “buy” rating reissued by research analysts at Robert W. Baird in a research report issued to clients and investors on Wednesday. They presently have a $40.00 price objective on the stock. Robert W. Baird’s price target suggests a potential upside of 13.35% from the stock’s previous close.
Several other equities analysts have also recently weighed in on PDCO. Jefferies Group LLC reiterated a “hold” rating and set a $37.00 price objective on shares of Patterson Companies in a research report on Thursday. Stifel Nicolaus lowered their price target on shares of Patterson Companies from $39.00 to $34.00 and set a “sell” rating on the stock in a report on Tuesday, August 15th. Cleveland Research restated a “hold” rating on shares of Patterson Companies in a report on Tuesday, August 22nd. TheStreet cut shares of Patterson Companies from a “b-” rating to a “c” rating in a report on Thursday, August 24th. Finally, BidaskClub cut shares of Patterson Companies from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $41.00.
Patterson Companies (PDCO) traded up $0.49 during midday trading on Wednesday, hitting $35.29. The company’s stock had a trading volume of 3,535,100 shares, compared to its average volume of 1,246,180. The company has a market capitalization of $3,379.93, a PE ratio of 15.90, a P/E/G ratio of 2.01 and a beta of 0.96. Patterson Companies has a 52 week low of $32.07 and a 52 week high of $48.29. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.94 and a quick ratio of 1.15.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). Patterson Companies had a net margin of 2.84% and a return on equity of 15.19%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company posted $0.56 EPS. Patterson Companies’s quarterly revenue was down 2.3% on a year-over-year basis. sell-side analysts predict that Patterson Companies will post 2.06 earnings per share for the current year.
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In related news, CFO Ann B. Gugino sold 750 shares of the company’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $36.73, for a total value of $27,547.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.46% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC increased its position in Patterson Companies by 3.4% during the 1st quarter. Teachers Advisors LLC now owns 110,321 shares of the company’s stock worth $4,990,000 after purchasing an additional 3,651 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Patterson Companies by 7.4% in the second quarter. Bank of Montreal Can now owns 37,044 shares of the company’s stock worth $1,740,000 after purchasing an additional 2,539 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Patterson Companies by 519.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 13,467 shares of the company’s stock worth $632,000 after purchasing an additional 11,292 shares during the last quarter. LS Investment Advisors LLC grew its holdings in shares of Patterson Companies by 4.9% in the second quarter. LS Investment Advisors LLC now owns 10,107 shares of the company’s stock worth $475,000 after purchasing an additional 476 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Patterson Companies by 54.6% in the second quarter. Nisa Investment Advisors LLC now owns 42,465 shares of the company’s stock worth $1,992,000 after purchasing an additional 15,000 shares during the last quarter. 88.73% of the stock is owned by hedge funds and other institutional investors.
About Patterson Companies
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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