Todays Report: Today: Off Wall Street Reaffirmed “Sell” Rating for Patterson Cos. (PDCO)

Today: Off Wall Street Reaffirmed “Sell” Rating for Patterson Cos. (PDCO)

Off Wall Street reiterated their sell rating on shares of Patterson Cos. (NASDAQ:PDCO) in a research note released on Wednesday.

Several other equities analysts also recently issued reports on the company. Evercore ISI cut their price objective on Patterson Cos. to $39.00 in a research report on Tuesday, November 22nd. Northcoast Research restated a buy rating on shares of Patterson Cos. in a research report on Tuesday, November 1st. TheStreet upgraded Patterson Cos. from a hold rating to a buy rating in a research report on Friday, November 11th. Jefferies Group restated a hold rating on shares of Patterson Cos. in a research report on Thursday, August 4th. Finally, Zacks Investment Research upgraded Patterson Cos. from a sell rating to a hold rating in a research report on Monday, August 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Patterson Cos. has an average rating of Hold and an average target price of $46.67.

Patterson Cos. (NASDAQ:PDCO) opened at 39.05 on Wednesday. Patterson Cos. has a 52-week low of $36.46 and a 52-week high of $50.40. The company has a 50 day moving average price of $44.93 and a 200-day moving average price of $46.64. The firm 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 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The company earned $1.40 billion during the quarter, compared to analyst estimates of $1.44 billion. Patterson Cos. had a net margin of 3.69% and a return on equity of 17.17%. Patterson Cos.’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. Equities research analysts anticipate that Patterson Cos. will post $2.57 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. D.A. Davidson & CO. boosted its position in Patterson Cos. by 46.8% in the third quarter. D.A. Davidson & CO. now owns 10,908 shares of the company’s stock worth $498,000 after buying an additional 3,480 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Patterson Cos. by 1.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 158,860 shares of the company’s stock worth $7,298,000 after buying an additional 2,620 shares during the last quarter. Quantitative Systematic Strategies LLC boosted its position in Patterson Cos. by 116.2% in the third quarter. Quantitative Systematic Strategies LLC now owns 27,647 shares of the company’s stock worth $1,258,000 after buying an additional 14,862 shares during the last quarter. Cullen Capital Management LLC acquired a new position in Patterson Cos. during the third quarter worth about $585,000. Finally, Candriam Luxembourg S.C.A. boosted its position in Patterson Cos. by 45.3% in the third quarter. Candriam Luxembourg S.C.A. now owns 12,439 shares of the company’s stock worth $571,000 after buying an additional 3,880 shares during the last quarter. 79.77% of the stock is owned by hedge funds and other institutional investors.

Patterson Cos. Company Profile

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