Patterson Companies (PDCO) Rating Increased to Strong-Buy at BidaskClub

Share on StockTwits

BidaskClub upgraded shares of Patterson Companies (NASDAQ:PDCO) from a buy rating to a strong-buy rating in a report released on Friday.

A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Patterson Companies from a hold rating to a sell rating in a report on Wednesday, February 6th. UBS Group began coverage on shares of Patterson Companies in a report on Thursday, January 17th. They set a neutral rating and a $23.00 price objective for the company. ValuEngine lowered shares of Patterson Companies from a buy rating to a hold rating in a report on Thursday, December 6th. Finally, Goldman Sachs Group began coverage on shares of Patterson Companies in a report on Friday, October 19th. They set a sell rating and a $19.00 price objective for the company. Eight investment analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Patterson Companies presently has an average rating of Hold and an average target price of $23.50.

Shares of PDCO opened at $22.47 on Friday. Patterson Companies has a 1-year low of $18.94 and a 1-year high of $34.19. The stock has a market cap of $2.10 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.76 and a beta of 1.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.76 and a quick ratio of 0.94.

Patterson Companies (NASDAQ:PDCO) last announced its quarterly earnings data on Thursday, December 6th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. Patterson Companies had a net margin of 2.80% and a return on equity of 8.78%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business posted $0.51 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Research analysts forecast that Patterson Companies will post 1.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 25th. Stockholders of record on Friday, January 11th were issued a $0.26 dividend. The ex-dividend date of this dividend was Thursday, January 10th. This represents a $1.04 annualized dividend and a dividend yield of 4.63%. Patterson Companies’s dividend payout ratio is currently 61.90%.

Large investors have recently bought and sold shares of the company. Teton Advisors Inc. raised its holdings in shares of Patterson Companies by 39.5% in the 3rd quarter. Teton Advisors Inc. now owns 70,944 shares of the company’s stock valued at $1,735,000 after purchasing an additional 20,100 shares in the last quarter. Perkins Capital Management Inc. grew its position in shares of Patterson Companies by 32.0% in the 3rd quarter. Perkins Capital Management Inc. now owns 15,475 shares of the company’s stock worth $378,000 after buying an additional 3,750 shares during the last quarter. MetLife Investment Advisors LLC grew its position in shares of Patterson Companies by 22.7% in the 3rd quarter. MetLife Investment Advisors LLC now owns 109,336 shares of the company’s stock worth $2,673,000 after buying an additional 20,206 shares during the last quarter. Man Group plc grew its position in shares of Patterson Companies by 19.0% in the 3rd quarter. Man Group plc now owns 825,547 shares of the company’s stock worth $20,184,000 after buying an additional 131,714 shares during the last quarter. Finally, Credit Suisse AG grew its position in shares of Patterson Companies by 31.5% in the 3rd quarter. Credit Suisse AG now owns 199,617 shares of the company’s stock worth $4,881,000 after buying an additional 47,874 shares during the last quarter.

About Patterson Companies

Patterson Companies, Inc distributes and sells dental and animal health products in the United States, the United Kingdom, and Canada. It operates through Dental and Animal Health segments. The company's Dental segment offers consumable products, such as infection control, restorative materials, hand instruments, and sterilization products; basic and advanced technology dental equipment; patient education systems; and office forms and stationery.

Further Reading: What is Compound Annual Growth Rate (CAGR)?

Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

Receive News & Ratings for Patterson Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson Companies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply