Patterson Companies, Inc. (NASDAQ:PDCO) Receives Average Recommendation of “Hold” from Analysts

Patterson Companies, Inc. (NASDAQ:PDCO) has been given an average rating of “Hold” by the ten ratings firms that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $18.63.

PDCO has been the subject of a number of recent analyst reports. Wolfe Research set a $17.00 price target on Patterson Companies and gave the company a “sell” rating in a report on Friday, August 30th. UBS Group dropped their price target on Patterson Companies from $23.00 to $16.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Goldman Sachs Group set a $15.00 price target on Patterson Companies and gave the company a “sell” rating in a report on Friday, August 30th. Barclays dropped their price target on Patterson Companies from $20.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, August 30th. Finally, BidaskClub raised Patterson Companies from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Patterson Companies by 1.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,044,153 shares of the company’s stock valued at $321,611,000 after buying an additional 200,464 shares during the period. BlackRock Inc. increased its stake in shares of Patterson Companies by 1.6% in the 2nd quarter. BlackRock Inc. now owns 10,020,708 shares of the company’s stock valued at $229,474,000 after buying an additional 157,551 shares during the period. Vanguard Group Inc. increased its stake in shares of Patterson Companies by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 8,185,572 shares of the company’s stock valued at $187,449,000 after buying an additional 90,532 shares during the period. Northern Trust Corp increased its stake in shares of Patterson Companies by 12.5% in the 2nd quarter. Northern Trust Corp now owns 1,583,986 shares of the company’s stock valued at $36,274,000 after buying an additional 176,545 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Patterson Companies by 5.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,552,238 shares of the company’s stock worth $36,711,000 after purchasing an additional 77,838 shares during the last quarter. 93.93% of the stock is owned by institutional investors.

Shares of PDCO opened at $18.17 on Friday. Patterson Companies has a 1 year low of $15.73 and a 1 year high of $26.60. The company has a current ratio of 1.81, a quick ratio of 0.88 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $17.44 and a 200-day simple moving average of $19.60. The stock has a market cap of $1.74 billion, a PE ratio of 12.98, a PEG ratio of 2.45 and a beta of 1.34.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. Patterson Companies had a return on equity of 8.95% and a net margin of 2.12%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm posted $0.26 EPS. The business’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts forecast that Patterson Companies will post 1.38 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.26 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.04 annualized dividend and a dividend yield of 5.72%. Patterson Companies’s dividend payout ratio (DPR) is currently 74.29%.

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: Cost of Debt

Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

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