Cactus (NYSE:WHD) had its price objective increased by equities research analysts at Citigroup from $38.00 to $41.00 in a research note issued to investors on Friday, September 14th, Stock Target Advisor reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 1.23% from the stock’s current price.
Several other research analysts have also commented on WHD. Johnson Rice started coverage on shares of Cactus in a report on Thursday, May 24th. They issued an “accumulate” rating and a $40.00 price target on the stock. ValuEngine lowered shares of Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, May 26th. Barclays reiterated an “overweight” rating and set a $36.00 price objective (up previously from $31.00) on shares of Cactus in a research note on Thursday, May 31st. Zacks Investment Research lowered shares of Cactus from a “buy” rating to a “hold” rating in a research note on Tuesday, June 5th. Finally, Royal Bank of Canada lifted their price objective on shares of Cactus to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, July 31st. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $38.70.
Shares of WHD traded up $0.05 during mid-day trading on Friday, hitting $40.50. The company had a trading volume of 536,900 shares, compared to its average volume of 536,292. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.94 and a current ratio of 3.09. Cactus has a 1-year low of $19.18 and a 1-year high of $40.97. The stock has a market capitalization of $2.87 billion and a PE ratio of 0.03.
Cactus (NYSE:WHD) last released its earnings results on Thursday, August 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The company had revenue of $138.54 million during the quarter, compared to analyst estimates of $137.29 million. Cactus’s revenue was up 69.2% compared to the same quarter last year. As a group, sell-side analysts expect that Cactus will post 1.83 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Cactus in the first quarter worth $51,410,000. Swiss National Bank bought a new stake in shares of Cactus during the second quarter valued at about $1,554,000. California State Teachers Retirement System bought a new stake in shares of Cactus during the first quarter valued at about $953,000. State of Wisconsin Investment Board bought a new stake in shares of Cactus during the second quarter valued at about $237,000. Finally, Rhumbline Advisers raised its stake in shares of Cactus by 21.1% during the second quarter. Rhumbline Advisers now owns 25,690 shares of the company’s stock valued at $868,000 after purchasing an additional 4,479 shares in the last quarter. 37.99% of the stock is owned by hedge funds and other institutional investors.
Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.
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