Patterson Companies, Inc. (NASDAQ:PDCO) Receives $22.75 Average PT from Brokerages

Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have earned a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $22.75.

A number of research analysts have weighed in on the stock. BidaskClub upgraded shares of Patterson Companies from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. TheStreet cut shares of Patterson Companies from a “c” rating to a “d+” rating in a research note on Wednesday, June 24th. Goldman Sachs Group upgraded shares of Patterson Companies from a “sell” rating to a “neutral” rating and boosted their target price for the company from $11.00 to $21.00 in a research note on Thursday, June 25th. UBS Group boosted their target price on shares of Patterson Companies from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Finally, Barclays reiterated a “sell” rating and issued a $16.00 target price on shares of Patterson Companies in a research note on Friday, March 20th.

Patterson Companies stock traded down $0.31 during midday trading on Friday, hitting $22.01. 875,879 shares of the stock were exchanged, compared to its average volume of 1,374,985. Patterson Companies has a 52-week low of $12.93 and a 52-week high of $25.70. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -3.53, a price-to-earnings-growth ratio of 2.38 and a beta of 1.56. The business’s 50-day moving average price is $19.25 and its 200-day moving average price is $19.67. The company has a quick ratio of 0.69, a current ratio of 1.44 and a debt-to-equity ratio of 0.76.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Wednesday, June 24th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.26. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Patterson Companies had a negative net margin of 10.72% and a positive return on equity of 11.20%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 earnings per share. On average, sell-side analysts predict that Patterson Companies will post 1.35 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend is Thursday, July 16th. Patterson Companies’s dividend payout ratio (DPR) is presently 67.10%.

Institutional investors have recently bought and sold shares of the stock. Pearl River Capital LLC bought a new stake in Patterson Companies during the 1st quarter worth approximately $32,000. CWM Advisors LLC bought a new stake in Patterson Companies during the 1st quarter worth approximately $35,000. Acadian Asset Management LLC bought a new stake in Patterson Companies during the 4th quarter worth approximately $84,000. Point72 Hong Kong Ltd bought a new stake in Patterson Companies during the 4th quarter worth approximately $100,000. Finally, Advisor Group Inc. increased its holdings in Patterson Companies by 129.7% during the 4th quarter. Advisor Group Inc. now owns 5,254 shares of the company’s stock worth $108,000 after acquiring an additional 2,967 shares during the period. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Patterson Companies Company Profile

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.

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Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

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