Trade Report: Today: Patterson Cos. (PDCO) Receives Neutral Rating from Jefferies Group

Today: Patterson Cos. (PDCO) Receives Neutral Rating from Jefferies Group

Jefferies Group reiterated their neutral rating on shares of Patterson Cos. (NASDAQ:PDCO) in a report released on Friday. They currently have a $48.00 price target on the stock.

Several other research firms have also recently weighed in on PDCO. 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. TheStreet raised shares of Patterson Cos. from a hold rating to a buy rating in a report on Friday, November 11th. Evercore ISI decreased their price target on shares of Patterson Cos. to $39.00 in a report on Tuesday, November 22nd. Zacks Investment Research raised shares of Patterson Cos. from a sell rating to a hold rating in a report on Monday, September 5th. Finally, 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 target on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $46.67.

Patterson Cos. (NASDAQ:PDCO) opened at 39.05 on Friday. The stock 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 capitalization of $3.73 billion, a P/E ratio of 19.26 and a beta of 0.97. Patterson Cos. has a 52 week low of $36.46 and a 52 week high of $50.40.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDCO. Vanguard Group Inc. boosted its position in Patterson Cos. by 1.6% in the second quarter. Vanguard Group Inc. now owns 7,763,526 shares of the company’s stock worth $371,795,000 after buying an additional 122,202 shares in the last quarter. Parnassus Investments CA boosted its position in shares of Patterson Cos. by 0.3% in the third quarter. Parnassus Investments CA now owns 7,077,566 shares of the company’s stock worth $325,143,000 after buying an additional 21,592 shares during the period. Wells Fargo & Company MN boosted its position in shares of Patterson Cos. by 30.5% in the third quarter. Wells Fargo & Company MN now owns 3,492,088 shares of the company’s stock worth $160,426,000 after buying an additional 816,091 shares during the period. BlackRock Fund Advisors boosted its position in shares of Patterson Cos. by 2.3% in the third quarter. BlackRock Fund Advisors now owns 2,890,149 shares of the company’s stock worth $132,773,000 after buying an additional 65,947 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Patterson Cos. by 1.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,615,682 shares of the company’s stock worth $120,164,000 after buying an additional 47,498 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.

About Patterson Cos.

Related posts

Leave a Comment