Shares of Patterson Companies, Inc. (NASDAQ:PDCO) have earned a consensus rating of “Sell” from the eleven research firms that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $21.63.
A number of brokerages recently commented on PDCO. BidaskClub raised Zillow Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 2nd. Wolfe Research began coverage on Waters in a research note on Thursday, May 30th. They issued an “underperform” rating for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of in a research note on Friday, June 28th. Guggenheim began coverage on Patterson Companies in a research note on Wednesday, April 17th. They issued a “neutral” rating and a $23.00 price target for the company. Finally, UBS Group lowered to a “neutral” rating and raised their price target for the stock from GBX 3,300 ($43.12) to GBX 3,500 ($45.73) in a research note on Tuesday, June 25th.
Shares of Patterson Companies stock traded down $0.32 on Friday, hitting $20.28. The stock had a trading volume of 1,518,737 shares, compared to its average volume of 1,566,589. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.96 and a current ratio of 1.83. Patterson Companies has a one year low of $18.94 and a one year high of $26.60. The firm has a market cap of $1.96 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 2.20 and a beta of 1.29. The firm has a 50-day moving average of $22.25.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 5.13%. The ex-dividend date is Thursday, July 11th. Patterson Companies’s dividend payout ratio is currently 74.29%.
Institutional investors have recently made changes to their positions in the business. Financial Gravity Wealth Inc. purchased a new position in Patterson Companies during the first quarter valued at $49,000. Royce & Associates LP lifted its position in Patterson Companies by 34.4% during the first quarter. Royce & Associates LP now owns 2,553 shares of the company’s stock valued at $56,000 after buying an additional 653 shares during the period. Cullen Frost Bankers Inc. purchased a new position in Patterson Companies during the first quarter valued at $70,000. Royal London Asset Management Ltd. purchased a new position in Patterson Companies during the first quarter valued at $72,000. Finally, Twin Tree Management LP purchased a new position in Patterson Companies during the first quarter valued at $87,000. 93.54% of the stock is owned by institutional investors and hedge funds.
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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