Patterson Companies Stock Forecast - Triple Exponential Smoothing

Triple exponential smoothing for Patterson Companies - also known as the Winters method - is a refinement of the popular double exponential smoothing model with the addition of periodicity (seasonality) component. Simple exponential smoothing technique works best with data where there are no trend or seasonality components to the data. When Patterson Companies prices exhibit either an increasing or decreasing trend over time, simple exponential smoothing forecasts tend to lag behind observations. Double exponential smoothing is designed to address this type of data series by taking into account any trend in Patterson Companies price movement. However, neither of these exponential smoothing models address any seasonality of Patterson Companies.

Patterson Companies Triple Exponential Smoothing Price Forecast For the 23rd of December

Given 90 days horizon, the Triple Exponential Smoothing forecasted value of Patterson Companies on the next trading day is expected to be 29.73 with a mean absolute deviation of 0.46, mean absolute percentage error of 1.15, and the sum of the absolute errors of 27.40.

Patterson Companies Stock Forecast Pattern

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Model Predictive Factors

The below table displays some essential indicators generated by the model showing the Triple Exponential Smoothing forecasting method's relative quality and the estimations of the prediction error of Patterson Companies stock data series using in forecasting. Note that when a statistical model is used to represent Patterson Companies stock, the representation will rarely be exact; so some information will be lost using the model to explain the process. AIC estimates the relative amount of information lost by a given model: the less information a model loses, the higher its quality. As with simple exponential smoothing, in triple exponential smoothing models past Patterson Companies observations are given exponentially smaller weights as the observations get older. In other words, recent observations are given relatively more weight in forecasting than the older Patterson Companies observations.

Predictive Modules for Patterson Companies

There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as Patterson Companies. Regardless of method or technology, however, to accurately forecast the stock market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.

Hype Prediction Low Estimated High 24.73 29.40 34.07 Details

Intrinsic Valuation Low Real High 19.73 24.40 32.34 Details

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.

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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.

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Additional Information and Resources on Investing in Patterson Stock

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:

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Technical Analysis Details

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.