Trade Report: Today: Evercore ISI Reiterates “Hold” Rating for Patterson Cos. (PDCO)

Today: Evercore ISI Reiterates “Hold” Rating for Patterson Cos. (PDCO)

Patterson Cos. (NASDAQ:PDCO)‘s stock had its “hold” rating reaffirmed by equities researchers at Evercore ISI in a report released on Monday. They currently have a $39.00 target price on the stock, down from their prior target price of $46.00. Evercore ISI’s target price would indicate a potential downside of 0.13% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Patterson Cos. from a “hold” rating to a “sell” rating in a report on Wednesday, September 14th. Northcoast Research restated a “buy” rating on shares of Patterson Cos. in a report on Tuesday, November 1st. Bank of America Corp. assumed coverage on shares of Patterson Cos. in a report on Wednesday, August 24th. They issued an “underperform” rating and a $44.00 price objective on the stock. TheStreet upgraded shares of Patterson Cos. from a “hold” rating to a “buy” rating in a report on Friday, November 11th. Finally, Off Wall Street assumed coverage on shares of Patterson Cos. in a report on Monday, August 8th. They issued a “sell” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $46.67.

Shares of Patterson Cos. (NASDAQ:PDCO) opened at 39.05 on Monday. Patterson Cos. has a 52 week low of $36.46 and a 52 week high of $50.40. The stock’s 50 day moving average is $44.93 and its 200 day moving average is $46.64. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 19.26 and a beta of 0.97.

Patterson Cos. (NASDAQ:PDCO) last announced its quarterly earnings results on Tuesday, November 22nd. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by $0.04. Patterson Cos. had a net margin of 3.69% and a return on equity of 17.17%. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. Patterson Cos.’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts forecast that Patterson Cos. will post $2.57 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of PDCO. Benjamin F. Edwards & Company Inc. increased its position in shares of Patterson Cos. by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,358 shares of the company’s stock worth $113,000 after buying an additional 12 shares during the period. Toronto Dominion Bank increased its position in shares of Patterson Cos. by 425.2% in the third quarter. Toronto Dominion Bank now owns 2,442 shares of the company’s stock worth $112,000 after buying an additional 1,977 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of Patterson Cos. by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 2,702 shares of the company’s stock worth $124,000 after buying an additional 11 shares during the period. TLP Group LLC bought a new position in shares of Patterson Cos. during the second quarter worth $140,000. Finally, Investment Counselors of Maryland LLC increased its position in shares of Patterson Cos. by 45.6% in the third quarter. Investment Counselors of Maryland LLC now owns 2,979 shares of the company’s stock worth $137,000 after buying an additional 933 shares during the period. Institutional investors own 79.77% of the company’s stock.

Patterson Cos. Company Profile

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