Patterson Cos. Stock Rating Reaffirmed by Zacks (PDCO)
Patterson Cos. (NASDAQ:PDCO)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Friday, AnalystRatings.Net reports. They currently have a $43.00 price objective on the stock. Zacks‘ price objective suggests a potential upside of 6.04% from the company’s current price.
Zacks‘ analyst wrote, “Patterson’s third-quarter fiscal 2014 earnings per share of $0.57 rose 9.6% from the prior year and met the Zacks Consensus Estimate. Revenues of $1,082.7 million rose 18.2% and surpassed the Zacks Consensus Estimate. The company has narrowed its EPS guidance to the range of $2.13-$2.20 from $2.13-$2.24 per share for fiscal 2014. Medical revenues continue to be soft due to weaknesses in international markets. Moreover, continued decline in operating margin concerns us. We remain cautious about intense competition and an uncertain macro economy. As such, we reiterate our Neutral recommendation on Patterson with a price target of $43.00.”
A number of other firms have also recently commented on PDCO. Analysts at Ned Davis Research downgraded shares of Patterson Cos. from a “buy” rating to a “neutral” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $41.45.
Shares of Patterson Cos. (NASDAQ:PDCO) traded up 0.42% during mid-day trading on Friday, hitting $40.72. 921,648 shares of the company’s stock traded hands. Patterson Cos. has a one year low of $35.46 and a one year high of $44.39. The stock’s 50-day moving average is $40.44 and its 200-day moving average is $41.06. The company has a market cap of $4.116 billion and a P/E ratio of 20.23.
Patterson Cos. (NASDAQ:PDCO) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. Analysts expect that Patterson Cos. will post $2.16 EPS for the current fiscal year.
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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