Patterson Cos.’s (PDCO) Neutral Rating Reiterated at Jefferies Group
Jefferies Group reiterated their neutral rating on shares of Patterson Cos. (NASDAQ:PDCO) in a research report sent to investors on Friday morning. Jefferies Group currently has a $48.00 target price on the stock.
PDCO has been the topic of several other research reports. Off Wall Street reissued a sell rating on shares of Patterson Cos. in a research report on Wednesday, November 23rd. Zacks Investment Research lowered shares of Patterson Cos. from a hold rating to a sell rating in a research report on Tuesday, August 16th. TheStreet lowered shares of Patterson Cos. from a buy rating to a hold rating in a report on Thursday, September 1st. Northcoast Research reaffirmed a buy rating on shares of Patterson Cos. in a report on Tuesday, November 1st. Finally, Robert W. Baird set a $48.00 target price on shares of Patterson Cos. and gave the stock a hold rating in a report on Tuesday, November 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $45.33.
Shares of Patterson Cos. (NASDAQ:PDCO) opened at 38.87 on Friday. The firm has a 50-day moving average of $44.75 and a 200-day moving average of $46.63. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 18.05 and a beta of 0.97. Patterson Cos. has a 12 month low of $36.46 and a 12 month high of $50.40.
Patterson Cos. (NASDAQ:PDCO) last posted 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 business earned $1.40 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the firm earned $0.56 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts anticipate that Patterson Cos. will post $2.57 EPS for the current year.
ILLEGAL ACTIVITY WARNING: “Patterson Cos.’s (PDCO) Neutral Rating Reiterated at Jefferies Group” was posted by Daily Political and is owned by of Daily Political. If you are reading this report on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this report can be read at http://www.dailypolitical.com/2016/11/30/patterson-cos-s-pdco-neutral-rating-reiterated-at-jefferies-group.html.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of 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 during the period. Parnassus Investments CA boosted its stake 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 stake 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 stake 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 stake 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 owned by institutional investors.
About Patterson Cos.
Patterson Companies, Inc is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America.
Receive News & Ratings for Patterson Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson Cos. and related companies with MarketBeat.com's FREE daily email newsletter.