Patterson Companies Inc (NASDAQ: PDCO): Would You Buy Today?

In today’s recent session, 3.31 million shares of the Patterson Companies Inc (NASDAQ:PDCO) have been traded, and its beta is 0.98. Most recently the company’s share price was $31.15, and it changed around $8.04 or 34.79% from the last close, which brings the market valuation of the company to $2.75B. PDCO at last check was trading at a discount to its 52-week high of $30.68, offering almost 1.51% off that amount. The share price’s 52-week low was $19.45, which indicates that the recent value has risen by an impressive 37.56% since then. We note from Patterson Companies Inc’s average daily trading volume that its 10-day average is 1.23 million shares, with the 3-month average coming to 879.17K.

Patterson Companies Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.77. If we narrow it down even further, the data shows that 0 out of 13 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 11 recommended PDCO as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Patterson Companies Inc is expected to report earnings per share of 0.62 for the current quarter.

Patterson Companies Inc (NASDAQ:PDCO) trade information

Instantly PDCO has been showing a green trend so far today with a performance of 34.79% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 31.34 on recent trading dayincreased the stock’s daily price by 0.61%. The company’s shares are currently up 9.49% year-to-date, but still up 42.37% over the last five days. On the other hand, Patterson Companies Inc (NASDAQ:PDCO) is 47.98% up in the 30-day period. We can see from the shorts that 2.98 million shares have been sold at a short interest cover period of 3.6 day(s).

The consensus price target as assigned by Wall Street analysts is $26, which translates to bulls needing to decrease their stock price by -19.81% from its current value. Analyst projections state that PDCO is forecast to be at a low of $22 and a high of $30.

Patterson Companies Inc (PDCO) estimates and forecasts

Patterson Companies Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 36.27 percent over the past six months and at a -1.30% annual growth rate that is well below the industry average of 6.40%. The year-over-year growth rate is expected to be 0.72%, up from the previous year.

Consensus estimates provided by 9 financial analysts predict the company will bring in an average of 1.64B in revenue for the current quarter. 9 analysts expect Patterson Companies Inc to make 1.77B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 1.62B and 1.72B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 1.46%. Forecasts for the next quarter put sales growth at 2.61%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 17.28%. Patterson Companies Inc earnings are expected to increase by -1.92% in 2024, but the outlook is positive 5.83% per year for the next five years.

PDCO Dividends

Patterson Companies Inc’s next quarterly earnings report is expected to be released in January. The annual dividend yield of the stock is 3.34 percent and its annual dividend per share was 1.04. It is important to note, however, that the 3.34% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 3.89 per year.

Patterson Companies Inc (NASDAQ:PDCO)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.08% of Patterson Companies Inc shares, and 90.33% of them are in the hands of institutional investors. The stock currently has a share float of 91.31%. Patterson Companies Inc stock is held by 390.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-06-30, it held 13.8543% of the shares, which is about 12.88 million shares worth $310.67 million.

VANGUARD GROUP INC, with 10.1329% or 9.42 million shares worth $227.22 million as of 2024-06-30, holds the second largest percentage of outstanding shares.