Robert W. Baird Issues Pessimistic Forecast for Patterson Companies (NASDAQ:PDCO) Stock Price

Patterson Companies (NASDAQ:PDCO) had its target price decreased by Robert W. Baird from $28.00 to $25.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 9.08% from the stock’s current price.

PDCO has been the topic of several other research reports. Evercore ISI reduced their price target on shares of Patterson Companies from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of Patterson Companies from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Mizuho assumed coverage on Patterson Companies in a report on Wednesday. They issued a “neutral” rating and a $23.00 price target for the company. Bank of America reduced their price objective on Patterson Companies from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Stifel Nicolaus lowered their target price on Patterson Companies from $25.00 to $24.00 and set a “hold” rating for the company in a report on Thursday. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Patterson Companies currently has a consensus rating of “Hold” and an average target price of $26.10.

Patterson Companies Stock Up 0.4 %

Shares of NASDAQ:PDCO opened at $22.92 on Friday. The firm has a market capitalization of $2.02 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The business has a 50 day simple moving average of $21.02 and a two-hundred day simple moving average of $22.79. Patterson Companies has a 1 year low of $19.45 and a 1 year high of $30.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 0.67.

Patterson Companies (NASDAQ:PDCO) last posted its quarterly earnings data on Thursday, December 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Patterson Companies had a net margin of 2.58% and a return on equity of 19.87%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the firm earned $0.50 EPS. Patterson Companies’s revenue was up 1.0% compared to the same quarter last year. On average, equities analysts predict that Patterson Companies will post 2.32 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. LRI Investments LLC grew its stake in Patterson Companies by 201.2% in the second quarter. LRI Investments LLC now owns 1,262 shares of the company’s stock valued at $30,000 after purchasing an additional 843 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Patterson Companies by 1,376.1% in the 2nd quarter. Mather Group LLC. now owns 1,609 shares of the company’s stock valued at $39,000 after buying an additional 1,500 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Patterson Companies in the 2nd quarter worth approximately $41,000. Family Firm Inc. purchased a new position in shares of Patterson Companies in the 2nd quarter worth approximately $45,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Patterson Companies during the 2nd quarter worth approximately $45,000. 85.43% of the stock is owned by institutional investors.

About Patterson Companies

Patterson Companies, Inc engages in the distribution of dental and animal health products in the United States, the United Kingdom, and Canada. The company operates through three segments: Dental, Animal Health, and Corporate segments. The Dental segment offers consumable products, including infection control, restorative materials, and instruments; basic and advanced technology and dental equipment; practice optimization solutions, such as practice management software, e-commerce, revenue cycle management, patient engagement solutions, and clinical and patient education systems.