Patterson Companies (NASDAQ:PDCO) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of Patterson Companies (NASDAQ:PDCO) from a hold rating to a sell rating in a research note published on Friday, ValuEngine reports.

Several other research analysts have also weighed in on the stock. BidaskClub upgraded shares of Zillow Group from a buy rating to a strong-buy rating in a research note on Tuesday, July 2nd. UBS Group downgraded shares of to a neutral rating and lifted their target price for the stock from GBX 3,300 ($43.12) to GBX 3,500 ($45.73) in a report on Tuesday, June 25th. Zacks Investment Research raised shares of Grana y Montero SAA from a sell rating to a hold rating in a report on Monday, June 10th. Guggenheim assumed coverage on shares of Patterson Companies in a report on Wednesday, April 17th. They set a neutral rating and a $23.00 target price for the company. Finally, JPMorgan Chase & Co. reaffirmed an overweight rating on shares of in a report on Friday, June 28th. Six research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company presently has an average rating of Sell and an average price target of $21.63.

Patterson Companies stock opened at $19.75 on Friday. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 2.16 and a beta of 1.29. The business’s 50-day moving average price is $22.19. Patterson Companies has a fifty-two week low of $18.94 and a fifty-two week high of $26.60. The company has a quick ratio of 0.96, a current ratio of 1.83 and a debt-to-equity ratio of 0.49.

Patterson Companies (NASDAQ:PDCO) last released its quarterly earnings data on Thursday, June 27th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Patterson Companies had a return on equity of 8.94% and a net margin of 1.50%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Sell-side analysts anticipate that Patterson Companies will post 1.38 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date is Thursday, July 11th. Patterson Companies’s dividend payout ratio is currently 74.29%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D boosted its holdings in Patterson Companies by 7.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 300,000 shares of the company’s stock valued at $6,870,000 after purchasing an additional 20,000 shares during the period. Inlet Private Wealth LLC boosted its holdings in Patterson Companies by 33.8% in the 2nd quarter. Inlet Private Wealth LLC now owns 134,250 shares of the company’s stock valued at $2,876,000 after purchasing an additional 33,900 shares during the period. Bessemer Group Inc. boosted its holdings in Patterson Companies by 215.9% in the 2nd quarter. Bessemer Group Inc. now owns 19,900 shares of the company’s stock valued at $456,000 after purchasing an additional 13,600 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Patterson Companies by 56.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 44,409 shares of the company’s stock valued at $1,016,000 after purchasing an additional 16,090 shares during the period. Finally, Biechele Royce Advisors boosted its holdings in Patterson Companies by 4.7% in the 2nd quarter. Biechele Royce Advisors now owns 277,997 shares of the company’s stock valued at $6,366,000 after purchasing an additional 12,502 shares during the period. 93.56% of the stock is owned by hedge funds and other institutional investors.

About Patterson Companies

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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