Patterson Companies Stock Forecast - Daily Balance Of Power

PDCO Stock  USD 30.90  0.04  0.13%   
Patterson Stock Forecast is based on your current time horizon. Although Patterson Companies' naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Patterson Companies' systematic risk associated with finding meaningful patterns of Patterson Companies fundamentals over time.
  
As of the 25th of December 2024, Inventory Turnover is likely to grow to 6.63. Also, Payables Turnover is likely to grow to 7.65. As of the 25th of December 2024, Common Stock Shares Outstanding is likely to grow to about 94.8 M, while Net Income Applicable To Common Shares is likely to drop about 114.1 M.
On December 24, 2024 Patterson Companies had Daily Balance Of Power of 0.5. Balance of Power indicator (or BOP) measures the strength of Patterson Companies market sensitivity to bulls and bears. It estimates the ability of Patterson Companies buyers and sellers to push price to an extreme high or extreme low level. As a result, by monitoring Patterson Companies Balance of Power indicator one can determine a trend of the price direction.
Check Patterson Companies VolatilityBacktest Patterson CompaniesInformation Ratio  

Patterson Companies Trading Date Momentum

On December 24 2024 Patterson Companies was traded for  30.90  at the closing time. The top price for the day was 30.92  and the lowest listed price was  30.86 . The trading volume for the day was 598.3 K. The trading history from December 24, 2024 did not cause price change. The trading delta at closing time against the current closing price is 0.10% .
Balance of Power indicator was created by Igor Livshin to predict asset short term price movements or warning signals. If Balance of Power indicator is trended towards the high of its range it will signify that the bulls are in control. On the other hand when the BOP indicator is moving towards the lows of its range it signifies that the bears are in control. If the indicator move from a high positive range to a lower positive range it signifies that the buying pressure is decreasing. Conversely, if the indicator move from a low negative range to a higher negative range it signifies that the selling pressure is decreasing.
Compare Patterson Companies to competition

Other Forecasting Options for Patterson Companies

For every potential investor in Patterson, whether a beginner or expert, Patterson Companies' price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Patterson Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Patterson. Basic forecasting techniques help filter out the noise by identifying Patterson Companies' price trends.

Patterson Companies Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Patterson Companies stock to make a market-neutral strategy. Peer analysis of Patterson Companies could also be used in its relative valuation, which is a method of valuing Patterson Companies by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

Patterson Companies Technical and Predictive Analytics

The stock market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Patterson Companies' price movements, a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of Patterson Companies' current price.

Patterson Companies Market Strength Events

Market strength indicators help investors to evaluate how Patterson Companies stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Patterson Companies shares will generate the highest return on investment. By undertsting and applying Patterson Companies stock market strength indicators, traders can identify Patterson Companies entry and exit signals to maximize returns.

Patterson Companies Risk Indicators

The analysis of Patterson Companies' basic risk indicators is one of the essential steps in accurately forecasting its future price. The process involves identifying the amount of risk involved in Patterson Companies' investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting patterson stock prices, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.

Pair Trading with Patterson Companies

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Patterson Companies position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Patterson Companies will appreciate offsetting losses from the drop in the long position's value.

Moving together with Patterson Stock

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Moving against Patterson Stock

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  0.63EDAP EDAP TMS SAPairCorr
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  0.56EKSO Ekso Bionics HoldingsPairCorr
The ability to find closely correlated positions to Patterson Companies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Patterson Companies when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Patterson Companies - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Patterson Companies to buy it.
The correlation of Patterson Companies is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Patterson Companies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Patterson Companies moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Patterson Companies can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching
When determining whether Patterson Companies offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Patterson Companies' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Patterson Companies Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Patterson Companies Stock:
Check out Historical Fundamental Analysis of Patterson Companies to cross-verify your projections.
To learn how to invest in Patterson Stock, please use our How to Invest in Patterson Companies guide.
You can also try the Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
Is Health Care Providers & Services space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Patterson Companies. If investors know Patterson will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Patterson Companies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
(0.53)
Earnings Share
1.69
Revenue Per Share
71.704
Quarterly Revenue Growth
(0.02)
Return On Assets
0.056
The market value of Patterson Companies is measured differently than its book value, which is the value of Patterson that is recorded on the company's balance sheet. Investors also form their own opinion of Patterson Companies' value that differs from its market value or its book value, called intrinsic value, which is Patterson Companies' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Patterson Companies' market value can be influenced by many factors that don't directly affect Patterson Companies' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Patterson Companies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Patterson Companies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Patterson Companies' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.