Pattern Group (NASDAQ:PTRN) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Pattern Group (NASDAQ:PTRN) from a buy rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

A number of other brokerages have also commented on PTRN. Weiss Ratings upgraded shares of Pattern Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Robert W. Baird set a $26.00 price objective on Pattern Group in a report on Thursday, August 6th. Needham & Company LLC upped their target price on Pattern Group from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. BMO Capital Markets reiterated an “outperform” rating and set a $28.00 target price on shares of Pattern Group in a research note on Thursday, August 6th. Finally, KeyCorp cut their price target on shares of Pattern Group from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday, November 2nd. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.89.

Pattern Group Trading Up 6.3%

NASDAQ PTRN opened at $19.43 on Friday. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 27.20 and a beta of 1.29. The business’s 50 day moving average is $18.21 and its two-hundred day moving average is $17.63. Pattern Group has a 12-month low of $8.92 and a 12-month high of $29.80.

Pattern Group (NASDAQ:PTRN) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $885.85 million for the quarter. Pattern Group had a return on equity of 203.14% and a net margin of 3.61%. The company’s revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the company earned ($2.19) EPS. Equities analysts forecast that Pattern Group will post 0.64 earnings per share for the current fiscal year.

Institutional Trading of Pattern Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its position in shares of Pattern Group by 237.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 274,906 shares of the company’s stock valued at $4,700,000 after acquiring an additional 193,559 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Pattern Group during the 3rd quarter worth $336,000. ProShare Advisors LLC acquired a new position in shares of Pattern Group in the 3rd quarter worth $1,785,000. State of Wyoming acquired a new position in shares of Pattern Group in the 3rd quarter worth $106,000. Finally, Sterling Capital Management LLC boosted its position in shares of Pattern Group by 1,400.9% in the 3rd quarter. Sterling Capital Management LLC now owns 1,711 shares of the company’s stock valued at $29,000 after purchasing an additional 1,597 shares during the period.

About Pattern Group