Cactus (NYSE:WHD) had its target price boosted by research analysts at Raymond James from $24.00 to $26.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price objective indicates a potential upside of 14.94% from the company’s previous close.
WHD has been the topic of a number of other research reports. Stifel Nicolaus upgraded shares of Cactus from a “hold” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $28.00 in a report on Friday. Barclays downgraded Cactus from an “overweight” rating to an “equal weight” rating and set a $14.00 price target on the stock. in a research note on Thursday, May 14th. They noted that the move was a valuation call. Credit Suisse Group lifted their price objective on Cactus from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley boosted their target price on Cactus from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Finally, Royal Bank of Canada restated a “buy” rating and set a $15.00 price target on shares of Cactus in a report on Monday, April 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $21.82.
WHD opened at $22.62 on Friday. The company has a quick ratio of 4.11, a current ratio of 5.35 and a debt-to-equity ratio of 0.04. Cactus has a 52 week low of $8.16 and a 52 week high of $35.28. The stock has a market cap of $1.70 billion, a PE ratio of 17.40 and a beta of 2.49. The business has a 50 day moving average of $20.51 and a 200-day moving average of $20.72.
Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.01 by $0.09. The business had revenue of $66.55 million during the quarter, compared to analyst estimates of $60.29 million. Cactus had a return on equity of 14.47% and a net margin of 11.96%. The company’s revenue for the quarter was down 60.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. Equities analysts anticipate that Cactus will post 0.32 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. purchased a new position in Cactus in the 1st quarter worth about $26,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Cactus by 1,825.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,309 shares of the company’s stock worth $45,000 after acquiring an additional 1,241 shares during the period. Fifth Third Bancorp purchased a new position in shares of Cactus during the first quarter valued at approximately $51,000. Skandinaviska Enskilda Banken AB publ bought a new position in Cactus during the first quarter valued at approximately $75,000. Finally, Royal Bank of Canada lifted its position in Cactus by 185.5% during the first quarter. Royal Bank of Canada now owns 10,266 shares of the company’s stock valued at $119,000 after purchasing an additional 6,670 shares during the period. Institutional investors own 63.90% of the company’s stock.
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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