Stifel Nicolaus upgraded shares of Patterson Companies, Inc. (NASDAQ:PDCO) from a sell rating to a hold rating in a report published on Wednesday morning, MarketBeat Ratings reports. They currently have $34.00 price objective on the stock.
Several other analysts also recently weighed in on PDCO. BidaskClub downgraded Patterson Companies from a hold rating to a sell rating in a research note on Thursday, July 27th. Craig Hallum reiterated a sell rating and set a $41.00 price target (down previously from $46.00) on shares of Patterson Companies in a research note on Thursday, August 17th. They noted that the move was a valuation call. Cleveland Research reiterated a hold rating on shares of Patterson Companies in a research note on Tuesday, August 22nd. UBS AG upgraded Patterson Companies from a sell rating to a hold rating and set a $40.00 price target on the stock in a research note on Friday, August 25th. Finally, TheStreet downgraded Patterson Companies from a b- rating to a c rating in a research note on Thursday, August 24th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Patterson Companies currently has a consensus rating of Hold and an average price target of $41.64.
Patterson Companies (PDCO) traded down $0.03 during trading on Wednesday, reaching $36.04. The company’s stock had a trading volume of 2,170,000 shares, compared to its average volume of 1,640,000. The company has a current ratio of 2.01, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The stock has a market cap of $3,450.00, a P/E ratio of 14.77, a PEG ratio of 1.72 and a beta of 0.96. Patterson Companies has a twelve month low of $32.17 and a twelve month high of $49.26.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, August 24th. The company reported $0.44 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.34 billion. Patterson Companies had a return on equity of 15.51% and a net margin of 2.93%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. analysts expect that Patterson Companies will post 2.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 13th were given a dividend of $0.26 per share. The ex-dividend date was Thursday, October 12th. This represents a $1.04 dividend on an annualized basis and a yield of 2.89%. Patterson Companies’s dividend payout ratio is currently 59.43%.
In other Patterson Companies news, CFO Ann B. Gugino sold 750 shares of the stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $36.73, for a total transaction of $27,547.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. California Public Employees Retirement System boosted its position in Patterson Companies by 6.1% during the third quarter. California Public Employees Retirement System now owns 271,947 shares of the company’s stock worth $10,511,000 after purchasing an additional 15,585 shares in the last quarter. Continental Advisors LLC boosted its position in Patterson Companies by 10.6% during the third quarter. Continental Advisors LLC now owns 78,264 shares of the company’s stock worth $3,025,000 after purchasing an additional 7,500 shares in the last quarter. Janus Henderson Group PLC boosted its position in Patterson Companies by 140.0% during the third quarter. Janus Henderson Group PLC now owns 125,179 shares of the company’s stock worth $4,838,000 after purchasing an additional 73,024 shares in the last quarter. Jane Street Group LLC purchased a new position in Patterson Companies during the third quarter worth approximately $283,000. Finally, Atlanta Capital Management Co. L L C purchased a new position in Patterson Companies during the third quarter worth approximately $10,453,000. Institutional investors own 88.79% of the company’s stock.
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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