Patterson Companies, Inc. (PDCO) Stock Rating Upgraded by UBS AG
UBS AG upgraded shares of Patterson Companies, Inc. (NASDAQ:PDCO) from a sell rating to a hold rating in a research report sent to investors on Friday morning, www.flashratings.com reports. The brokerage currently has $40.00 price target on the stock.
Several other equities analysts have also recently issued reports on PDCO. Cleveland Research restated a hold rating on shares of Patterson Companies in a research report on Tuesday, August 22nd. Stifel Nicolaus decreased their price target on shares of Patterson Companies from $39.00 to $34.00 and set a sell rating for the company in a research report on Tuesday, August 15th. Craig Hallum restated a sell rating and issued a $41.00 price target (down from $46.00) on shares of Patterson Companies in a research report on Thursday, August 17th. They noted that the move was a valuation call. BidaskClub cut shares of Patterson Companies from a hold rating to a sell rating in a research report on Thursday, July 27th. Finally, Jefferies Group LLC restated a hold rating and issued a $40.00 price target on shares of Patterson Companies in a research report on Monday, May 15th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $42.89.
Patterson Companies (NASDAQ PDCO) opened at 37.65 on Friday. The firm has a market capitalization of $3.51 billion, a P/E ratio of 21.88 and a beta of 0.95. The stock’s 50 day moving average price is $40.34 and its 200 day moving average price is $43.74. Patterson Companies has a 12 month low of $35.93 and a 12 month high of $49.26.
Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings results on Thursday, August 24th. The company reported $0.44 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. Patterson Companies had a net margin of 2.93% and a return on equity of 15.51%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue was down 1.4% on a year-over-year basis. On average, analysts forecast that Patterson Companies will post $2.31 earnings per share for the current year.
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In related news, Director Scott P. Anderson sold 10,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total transaction of $467,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ann B. Gugino sold 750 shares of the stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $42.40, for a total transaction of $31,800.00. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of PDCO. Jarislowsky Fraser Ltd raised its position in shares of Patterson Companies by 0.3% in the second quarter. Jarislowsky Fraser Ltd now owns 14,321 shares of the company’s stock valued at $672,000 after buying an additional 42 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Patterson Companies by 0.7% in the first quarter. Nomura Asset Management Co. Ltd. now owns 10,520 shares of the company’s stock valued at $476,000 after buying an additional 70 shares in the last quarter. Lowe Brockenbrough & Co. Inc. raised its position in shares of Patterson Companies by 0.6% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 12,475 shares of the company’s stock valued at $586,000 after buying an additional 70 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Patterson Companies by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 20,363 shares of the company’s stock valued at $956,000 after buying an additional 112 shares in the last quarter. Finally, LS Investment Advisors LLC raised its position in shares of Patterson Companies by 1.4% in the first quarter. LS Investment Advisors LLC now owns 9,631 shares of the company’s stock valued at $436,000 after buying an additional 134 shares in the last quarter. 88.59% of the stock is currently owned by institutional investors and hedge funds.
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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