Patterson Cos. (PDCO) Price Target Lowered to $40.00 at Jefferies Group
Patterson Cos. (NASDAQ:PDCO) had its price objective lowered by investment analysts at Jefferies Group from $50.00 to $40.00 in a research note issued on Tuesday. The firm currently has a “hold” rating on the stock. Jefferies Group’s target price points to a potential upside of 2.91% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the stock. Off Wall Street started coverage on shares of Patterson Cos. in a research report on Monday, August 8th. They issued a “sell” rating for the company. Bank of America Corp. assumed coverage on shares of Patterson Cos. in a research note on Wednesday, August 24th. They issued an “underperform” rating and a $44.00 target price on the stock. Zacks Investment Research lowered shares of Patterson Cos. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 16th. Robert W. Baird set a $48.00 target price on shares of Patterson Cos. and gave the company a “hold” rating in a research note on Tuesday, November 22nd. Finally, Northcoast Research reaffirmed a “buy” rating on shares of Patterson Cos. in a research note on Tuesday, November 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $45.33.
Patterson Cos. (NASDAQ:PDCO) traded up 0.18% during midday trading on Tuesday, hitting $38.87. 2,411,334 shares of the stock were exchanged. The company has a 50 day moving average price of $44.75 and a 200 day moving average price of $46.63. Patterson Cos. has a one year low of $36.46 and a one year high of $50.40. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 18.05 and a beta of 0.97.
Patterson Cos. (NASDAQ:PDCO) last posted its quarterly earnings data on Tuesday, November 22nd. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.60 by $0.04. The company earned $1.40 billion during the quarter, compared to analyst estimates of $1.44 billion. Patterson Cos. had a net margin of 3.69% and a return on equity of 17.17%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 EPS. Equities analysts anticipate that Patterson Cos. will post $2.57 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: This report was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this report can be accessed at https://www.thecerbatgem.com/2016/11/29/patterson-cos-pdco-price-target-lowered-to-40-00-at-jefferies-group.html.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDCO. Toth Financial Advisory Corp raised its position in Patterson Cos. by 3.1% in the second quarter. Toth Financial Advisory Corp now owns 102,899 shares of the company’s stock valued at $4,928,000 after buying an additional 3,088 shares during the last quarter. SFE Investment Counsel increased its stake in shares of Patterson Cos. by 3.2% in the second quarter. SFE Investment Counsel now owns 41,255 shares of the company’s stock valued at $1,976,000 after buying an additional 1,265 shares during the period. CWM LLC increased its stake in shares of Patterson Cos. by 43,314.0% in the second quarter. CWM LLC now owns 369,453 shares of the company’s stock valued at $17,693,000 after buying an additional 368,602 shares during the period. Fenimore Asset Management Inc. increased its stake in shares of Patterson Cos. by 3.6% in the third quarter. Fenimore Asset Management Inc. now owns 757,175 shares of the company’s stock valued at $34,785,000 after buying an additional 25,985 shares during the period. Finally, Nuance Investments LLC increased its stake in shares of Patterson Cos. by 77.2% in the second quarter. Nuance Investments LLC now owns 901,806 shares of the company’s stock valued at $43,187,000 after buying an additional 393,019 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.
About Patterson Cos.
Patterson Companies, Inc is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America.
Receive News & Stock Ratings for Patterson Cos. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson Cos. and related stocks with our FREE daily email newsletter.