JPMorgan Chase & Co. Raises Patterson Companies (NASDAQ:PDCO) Price Target to $20.00

Patterson Companies (NASDAQ:PDCO) had its target price hoisted by JPMorgan Chase & Co. from $18.00 to $20.00 in a research note published on Friday morning, BenzingaRatingsTable reports. They currently have an underweight rating on the stock.

PDCO has been the subject of a number of other reports. Robert W. Baird upped their target price on Patterson Companies from $19.00 to $22.00 and gave the company a neutral rating in a research report on Friday. Goldman Sachs Group set a $15.00 price target on Patterson Companies and gave the stock a sell rating in a research 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 research note on Friday, August 30th. William Blair reaffirmed a market perform rating on shares of Patterson Companies in a research report on Wednesday, December 4th. Finally, Wolfe Research set a $17.00 price objective on shares of Patterson Companies and gave the stock a sell rating in a research note on Friday, August 30th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $19.00.

Shares of NASDAQ:PDCO opened at $23.51 on Friday. Patterson Companies has a 12-month low of $15.73 and a 12-month high of $25.25. The company’s 50 day moving average price is $18.52 and its two-hundred day moving average price is $19.31. The firm has a market cap of $2.25 billion, a PE ratio of 16.79, a PEG ratio of 2.47 and a beta of 1.36. The company has a quick ratio of 0.85, a current ratio of 1.59 and a debt-to-equity ratio of 0.49.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings results 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. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.42 billion. Patterson Companies had a net margin of 1.01% and a return on equity of 8.97%. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 earnings per share. On average, research analysts expect that Patterson Companies will post 1.4 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Sasco Capital Inc. CT bought a new stake in shares of Patterson Companies during the 2nd quarter worth $27,803,000. Invesco Ltd. boosted its stake in 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 buying an additional 794,057 shares in the last quarter. Select Equity Group L.P. grew its position in 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 acquiring an additional 430,304 shares during the last quarter. Nuveen Asset Management LLC bought a new position in Patterson Companies in the second quarter valued at about $8,074,000. Finally, Amundi Pioneer Asset Management Inc. grew its position in 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 acquiring an additional 269,405 shares during the last quarter. Institutional investors own 93.73% 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.

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Analyst Recommendations for Patterson Companies (NASDAQ:PDCO)

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