Analyst Actions: Patterson-UTI Energy Upgraded at Deutsche Bank, PT jumps $11; Shares Flat Early 11/28 07:07 AM
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08:07 AM EST, 11/28/2012 (MidnightTrader) -- Analysts at Deutsche Bank have upgraded their coverage of Patterson-UTI Energy, Inc. (PTEN:$17.00,00$-0.24,00-1.39%) to a Buy from a Hold.
The price target was boosted to $28 from $17 a share.
Shares of PTEN are flat at $17 in pre-market trading and is moving within a 52-week range of $12.81 - $22.27.
Price: 17, Change: 0, Percent Change: 0
PTEN
Re: PTEN
NEW YORK (TheStreet) -- Patterson-UTI Energy (Nasdaq:PTEN) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, good cash flow from operations, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
PTEN's debt-to-equity ratio is very low at 0.23 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.49, which illustrates the ability to avoid short-term cash problems.
Net operating cash flow has increased to $286.88 million or 30.03% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 16.14%.
38.30% is the gross profit margin for PATTERSON-UTI ENERGY INC which we consider to be strong. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of 7.89% trails the industry average.
PTEN, with its decline in revenue, underperformed when compared the industry average of 11.3%. Since the same quarter one year prior, revenues slightly dropped by 4.5%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
PTEN's debt-to-equity ratio is very low at 0.23 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.49, which illustrates the ability to avoid short-term cash problems.
Net operating cash flow has increased to $286.88 million or 30.03% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 16.14%.
38.30% is the gross profit margin for PATTERSON-UTI ENERGY INC which we consider to be strong. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of 7.89% trails the industry average.
PTEN, with its decline in revenue, underperformed when compared the industry average of 11.3%. Since the same quarter one year prior, revenues slightly dropped by 4.5%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
Re: PTEN
if its going to outperform and go even higher than previously thought why wouldn't it be a buy Analyst Actions: Patterson-UTI Energy Downgraded at CLSA, PT Raised $2; Shares Flat Early 12/12 07:39 AM
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08:39 AM EST, 12/12/2012 (MidnightTrader) -- Patterson-UTI Energy, Inc. (PTEN:$18.04,00$-0.15,00-0.82%) has been downgraded to an Outperform rating from a Buy at CLSA, while the price target was raised to $21 from $19 a share.
Shares of PTEN are flat in pre-market trading at $18.09 amid a 52-week range of $12.81 - $22.14.
Price: 18.09, Change: 0, Percent Change: 0
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