Craig Hallum Reiterates “Sell” Rating for Patterson Companies, Inc. (PDCO)
Patterson Companies, Inc. (NASDAQ:PDCO)‘s stock had its “sell” rating restated by Craig Hallum in a report released on Thursday, The Fly reports. They presently have a $41.00 price objective on the stock, down from their previous price objective of $46.00. Craig Hallum’s target price would indicate a potential upside of 9.95% from the stock’s previous close. The analysts noted that the move was a valuation call.
PDCO has been the topic of a number of other reports. Zacks Investment Research raised shares of Patterson Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 31st. Jefferies Group LLC reissued a “hold” rating and set a $40.00 target price on shares of Patterson Companies in a research report on Monday, May 15th. Stifel Nicolaus lowered their target price on shares of Patterson Companies from $39.00 to $34.00 and set a “sell” rating on the stock in a research report on Tuesday. BidaskClub downgraded shares of Patterson Companies from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, UBS AG downgraded shares of Patterson Companies from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $44.50 to $40.00 in a research report on Tuesday, July 11th. Seven equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $43.00.
Patterson Companies (PDCO) opened at 37.29 on Thursday. Patterson Companies has a 52-week low of $36.46 and a 52-week high of $49.26. The stock has a market cap of $3.50 billion, a P/E ratio of 20.83 and a beta of 0.95. The firm’s 50-day moving average price is $42.18 and its 200 day moving average price is $44.00.
Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings results on Thursday, May 25th. The company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.04. Patterson Companies had a net margin of 3.06% and a return on equity of 15.94%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the business posted $0.77 earnings per share. Patterson Companies’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts predict that Patterson Companies will post $2.32 earnings per share for the current year.
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In related news, insider Ann B. Gugino sold 750 shares of the stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $42.40, for a total value of $31,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott P. Anderson sold 10,000 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $46.76, for a total transaction of $467,600.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,500 shares of company stock valued at $532,273. 0.46% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Patterson Companies by 2,886.7% in the first quarter. BlackRock Inc. now owns 6,715,909 shares of the company’s stock worth $303,760,000 after buying an additional 6,491,048 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Patterson Companies during the first quarter worth approximately $128,254,000. Fairpointe Capital LLC boosted its position in shares of Patterson Companies by 25.7% in the first quarter. Fairpointe Capital LLC now owns 3,494,234 shares of the company’s stock worth $158,044,000 after buying an additional 713,773 shares in the last quarter. Shapiro Capital Management LLC boosted its position in shares of Patterson Companies by 81.1% in the first quarter. Shapiro Capital Management LLC now owns 1,433,460 shares of the company’s stock worth $64,835,000 after buying an additional 642,050 shares in the last quarter. Finally, Parnassus Investments CA boosted its position in shares of Patterson Companies by 6.1% in the first quarter. Parnassus Investments CA now owns 8,396,864 shares of the company’s stock worth $370,312,000 after buying an additional 481,947 shares in the last quarter. Hedge funds and other institutional investors own 89.34% of the company’s stock.
About Patterson Companies
Patterson Companies, Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets. The Company operates through three segments: dental, animal health and corporate. Dental and Animal health are strategic business units that offer similar products and services to different customer bases.
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