Patterson Cos. Downgraded by Ned Davis Research to “Neutral” (PDCO)
Patterson Cos. (NASDAQ:PDCO) was downgraded by Ned Davis Research from a “buy” rating to a “neutral” rating in a research note issued on Monday, American Banking & Market News reports.
In other Patterson Cos. news, Director Charles Reich unloaded 43,831 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $41.20, for a total transaction of $1,805,837.20. Following the completion of the sale, the director now directly owns 2,932 shares of the company’s stock, valued at approximately $120,798. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Patterson Cos. (NASDAQ:PDCO) traded down 0.38% on Monday, hitting $39.82. 77,049 shares of the company’s stock traded hands. Patterson Cos. has a 1-year low of $31.36 and a 1-year high of $42.69. The stock has a 50-day moving average of $40.86 and a 200-day moving average of $39.13. The company has a market cap of $4.023 billion and a P/E ratio of 19.67.
Patterson Cos. (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.46 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.48 by $0.02. The company had revenue of $880.10 million for the quarter, compared to the consensus estimate of $914.57 million. During the same quarter last year, the company posted $0.45 earnings per share. Patterson Cos.’s revenue was down 1.0% compared to the same quarter last year. On average, analysts predict that Patterson Cos. will post $2.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 25th. Shareholders of record on Friday, October 11th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Wednesday, October 9th.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG raised their price target on shares of Patterson Cos. (NASDAQ:PDCO) from $43.00 to $47.00 in a research note to investors on Friday, August 23rd. They now have a “hold” rating on the stock. Separately, analysts at Piper Jaffray Cos. raised their price target on shares of Patterson Cos. (NASDAQ:PDCO) from $38.00 to $40.00 in a research note to investors on Friday, August 23rd. They now have a “neutral” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Patterson Cos. (NASDAQ:PDCO) from $36.00 to $40.00 in a research note to investors on Friday, August 23rd. They now have an “underperform” rating on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. Patterson Cos. presently has an average rating of “Hold” and a consensus price target of $39.96.
Patterson Companies, Inc (NASDAQ:PDCO) is a distributor serving three markets: the United States companion animal (dogs, cats and other common household pets) and equine veterinary supply, and the worldwide rehabilitation and assistive products supply market.
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