Patterson Companies (NASDAQ:PDCO) Downgraded by BidaskClub

BidaskClub lowered shares of Patterson Companies (NASDAQ:PDCO) from a hold rating to a sell rating in a research report report published on Saturday morning, BidAskClub reports.

A number of other analysts have also recently weighed in on the stock. Barclays decreased their price target on shares of Patterson Companies from $20.00 to $16.00 and set an underweight rating for the company in a research note on Friday, August 30th. UBS Group decreased their price target on shares of Patterson Companies from $23.00 to $16.00 and set a neutral rating for the company in a research note on Friday, September 6th. Robert W. Baird set a $19.00 price target on shares of Patterson Companies and gave the stock a hold rating in a research note on Friday, August 30th. Goldman Sachs Group set a $15.00 price target on shares of Patterson Companies and gave the stock a sell rating in a research note on Friday, August 30th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Patterson Companies from $22.00 to $20.00 and set an underweight rating for the company in a research note on Friday, June 28th. Six equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Patterson Companies has a consensus rating of Sell and an average price target of $18.63.

Shares of Patterson Companies stock opened at $17.51 on Friday. The company has a fifty day simple moving average of $17.35 and a 200-day simple moving average of $20.74. Patterson Companies has a 12-month low of $15.73 and a 12-month 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 market cap of $1.67 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.92 and a beta of 1.33.



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

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date of this dividend is Thursday, October 10th. Patterson Companies’s dividend payout ratio is currently 74.29%.

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in Patterson Companies by 2.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 599,810 shares of the company’s stock worth $13,736,000 after buying an additional 12,202 shares during the last quarter. JPMorgan Chase & Co. raised its position in Patterson Companies by 5.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,552,238 shares of the company’s stock worth $36,711,000 after buying an additional 77,838 shares during the last quarter. Biechele Royce Advisors raised its position in Patterson Companies by 4.7% during the 2nd quarter. Biechele Royce Advisors now owns 277,997 shares of the company’s stock worth $6,366,000 after buying an additional 12,502 shares during the last quarter. AJO LP purchased a new position in Patterson Companies during the 1st quarter worth $449,000. Finally, TD Asset Management Inc. raised its position in Patterson Companies by 160.9% during the 1st quarter. TD Asset Management Inc. now owns 34,700 shares of the company’s stock worth $758,000 after buying an additional 21,400 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

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.

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Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

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