Patterson Cos. Upgraded by Ned Davis Research to Buy (PDCO)
Patterson Cos. (NASDAQ:PDCO) was upgraded by equities research analysts at Ned Davis Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, Analyst Ratings News reports.
Patterson Cos. (NASDAQ:PDCO) traded up 0.44% during mid-day trading on Monday, hitting $41.13. 119,560 shares of the company’s stock traded hands. Patterson Cos. has a 1-year low of $34.42 and a 1-year high of $44.39. The stock’s 50-day moving average is $41.08 and its 200-day moving average is $40.89. The company has a market cap of $4.157 billion and a P/E ratio of 20.43.
Patterson Cos. (NASDAQ:PDCO) last released its earnings data on Thursday, November 21st. The company reported $0.48 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.48. The company had revenue of $998.80 million for the quarter, compared to the consensus estimate of $1,000.00 million. During the same quarter last year, the company posted $0.44 earnings per share. Patterson Cos.’s revenue was up 15.2% compared to the same quarter last year. Analysts expect that Patterson Cos. will post $2.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, January 24th. Stockholders of record on Friday, January 10th will be given a dividend of 0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, January 8th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus downgraded shares of Patterson Cos. from a “buy” rating to a “hold” rating in a research note to investors on Thursday. They now have a $44.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Patterson Cos. in a research note to investors on Friday, November 22nd. They now have a $43.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Patterson Cos. from $37.00 to $40.00 in a research note to investors on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Patterson Cos. presently has a consensus rating of “Hold” and an average target price of $40.68.
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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