Evercore ISI Reaffirms “Hold” Rating for Patterson Cos. (PDCO)
Evercore ISI reiterated their hold rating on shares of Patterson Cos. (NASDAQ:PDCO) in a research note published on Monday morning. The firm currently has a $39.00 price objective on the stock, down from their prior price objective of $46.00.
PDCO has been the topic of a number of other reports. Zacks Investment Research cut Patterson Cos. from a hold rating to a sell rating in a research report on Wednesday, September 14th. Northcoast Research restated a buy rating on shares of Patterson Cos. in a research report on Tuesday, November 1st. Bank of America Corp. started coverage on Patterson Cos. in a research report on Wednesday, August 24th. They set an underperform rating and a $44.00 target price on the stock. TheStreet upgraded Patterson Cos. from a hold rating to a buy rating in a research report on Friday, November 11th. Finally, Jefferies Group restated a neutral rating and set a $48.00 target price on shares of Patterson Cos. in a research report on Friday, November 25th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $45.33.
Shares of Patterson Cos. (NASDAQ:PDCO) opened at 38.74 on Monday. Patterson Cos. has a 12 month low of $36.46 and a 12 month high of $50.40. The firm’s 50-day moving average price is $44.75 and its 200-day moving average price is $46.63. The stock has a market capitalization of $3.69 billion, a P/E ratio of 17.99 and a beta of 0.97.
Patterson Cos. (NASDAQ:PDCO) last released its quarterly earnings data on Tuesday, November 22nd. The company reported $0.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.04. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Patterson Cos. had a net margin of 3.69% and a return on equity of 17.17%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS. On average, equities research analysts forecast that Patterson Cos. will post $2.57 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “Evercore ISI Reaffirms “Hold” Rating for Patterson Cos. (PDCO)” was first reported by Daily Political and is owned by of Daily Political. If you are accessing this piece on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at http://www.dailypolitical.com/2016/12/01/evercore-isi-reaffirms-hold-rating-for-patterson-cos-pdco.html.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised 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 period. Price T Rowe Associates Inc. MD raised 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 period. Quantitative Systematic Strategies LLC raised 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 period. Cullen Capital Management LLC acquired a new position in Patterson Cos. during the third quarter worth $585,000. Finally, Candriam Luxembourg S.C.A. raised 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 period. 79.77% of the stock is currently owned by institutional investors and hedge funds.
Patterson Cos. Company Profile
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.