BidaskClub Upgrades Patterson Companies (NASDAQ:PDCO) to Buy

Patterson Companies (NASDAQ:PDCO) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a report issued on Friday, BidAskClub reports.

A number of other research analysts have also recently weighed in on PDCO. JPMorgan Chase & Co. lifted their price objective on shares of Patterson Companies from $18.00 to $20.00 and gave the company an “underweight” rating in a report on Friday, December 6th. Robert W. Baird lifted their price objective on shares of Patterson Companies from $19.00 to $22.00 and gave the company a “neutral” rating in a report on Friday, December 6th. ValuEngine raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Cfra upgraded shares of Patterson Companies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, William Blair reiterated a “market perform” rating on shares of Patterson Companies in a research report on Wednesday, December 4th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $19.61.

PDCO opened at $23.28 on Friday. Patterson Companies has a fifty-two week low of $15.73 and a fifty-two week high of $25.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.85 and a current ratio of 1.59. The company has a fifty day moving average of $21.23 and a two-hundred day moving average of $19.09. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 2.59 and a beta of 1.37.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, December 5th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. Patterson Companies had a net margin of 1.01% and a return on equity of 8.97%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the company earned $0.39 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that Patterson Companies will post 1.42 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in PDCO. Invesco Ltd. grew its position in shares of Patterson Companies by 339.3% in the second quarter. Invesco Ltd. now owns 1,028,097 shares of the company’s stock valued at $23,543,000 after purchasing an additional 794,057 shares during the period. Select Equity Group L.P. grew its position in shares of Patterson Companies by 33.3% in the third quarter. Select Equity Group L.P. now owns 1,721,706 shares of the company’s stock valued at $30,681,000 after purchasing an additional 430,304 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of Patterson Companies in the second quarter valued at about $8,074,000. Amundi Pioneer Asset Management Inc. grew its position in shares of Patterson Companies by 186.7% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 413,733 shares of the company’s stock valued at $67,905,000 after purchasing an additional 269,405 shares during the period. Finally, Fairpointe Capital LLC grew its position in shares of Patterson Companies by 7.5% in the third quarter. Fairpointe Capital LLC now owns 3,164,915 shares of the company’s stock valued at $56,399,000 after purchasing an additional 219,985 shares during the period. Institutional investors and hedge funds own 93.53% of the company’s stock.

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.

Further Reading: Certificate of Deposit (CD) For Risk Adverse Investors?

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.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit