Today, Patterson Cos.’s (PDCO) Hold Rating Reaffirm at Evercore ISI

Today, Patterson Cos.’s (PDCO) Hold Rating Reaffirm at Evercore ISI

Evercore ISI restated their hold rating on shares of Patterson Cos. (NASDAQ:PDCO) in a research note issued to investors on Monday. The brokerage currently has a $39.00 price target on the stock, down from their previous price target of $46.00.

Other equities research analysts have also issued reports about the stock. Jefferies Group reissued a hold rating on shares of Patterson Cos. in a report on Thursday, August 4th. Bank of America Corp. initiated coverage on shares of Patterson Cos. in a report on Wednesday, August 24th. They set an underperform rating and a $44.00 price objective on the stock. Zacks Investment Research raised shares of Patterson Cos. from a sell rating to a hold rating in a report on Monday, September 5th. TheStreet raised shares of Patterson Cos. from a hold rating to a buy rating in a report on Friday, November 11th. Finally, Robert W. Baird reissued a neutral rating and set a $49.00 price objective (down from $51.00) on shares of Patterson Cos. in a report on Friday, August 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $46.67.

Patterson Cos. (NASDAQ:PDCO) opened at 38.80 on Monday. The company has a market cap of $3.70 billion, a P/E ratio of 19.13 and a beta of 0.97. Patterson Cos. has a one year low of $36.46 and a one year high of $50.40. The company has a 50-day moving average of $44.75 and a 200 day moving average of $46.63.

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

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Patterson Cos. by 1.6% in the second quarter. Vanguard Group Inc. now owns 7,763,526 shares of the company’s stock valued at $371,795,000 after buying an additional 122,202 shares during the last quarter. Parnassus Investments CA raised its stake in Patterson Cos. by 0.3% in the third quarter. Parnassus Investments CA now owns 7,077,566 shares of the company’s stock valued at $325,143,000 after buying an additional 21,592 shares during the last quarter. Wells Fargo & Company MN raised its stake in Patterson Cos. by 30.5% in the third quarter. Wells Fargo & Company MN now owns 3,492,088 shares of the company’s stock valued at $160,426,000 after buying an additional 816,091 shares during the last quarter. BlackRock Fund Advisors raised its stake in Patterson Cos. by 2.3% in the third quarter. BlackRock Fund Advisors now owns 2,890,149 shares of the company’s stock valued at $132,773,000 after buying an additional 65,947 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in 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 valued at $120,164,000 after buying an additional 47,498 shares during the last quarter. 79.77% of the stock is currently owned by institutional investors and hedge funds.

About Patterson Cos.

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