Cactus (NYSE:WHD) Price Target Cut to $67.00

Cactus (NYSE:WHD) had its price target cut by Stifel Nicolaus from $69.00 to $67.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 7.22% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Citigroup lifted their price target on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Piper Sandler cut their target price on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Finally, Barclays raised their price target on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cactus presently has a consensus rating of “Hold” and an average price target of $55.40.

Cactus Trading Down 0.2 %

WHD stock traded down $0.11 during midday trading on Friday, reaching $62.49. 39,970 shares of the company traded hands, compared to its average volume of 749,026. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 2.27 and a beta of 1.95. Cactus has a 52-week low of $37.58 and a 52-week high of $64.96. The business has a 50 day moving average of $59.45 and a 200-day moving average of $54.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.59 and a current ratio of 3.75.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.09. The company had revenue of $290.39 million for the quarter, compared to analyst estimates of $276.76 million. Cactus had a return on equity of 21.22% and a net margin of 16.88%. Cactus’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. As a group, sell-side analysts expect that Cactus will post 3.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cactus

Several hedge funds have recently made changes to their positions in WHD. Allspring Global Investments Holdings LLC raised its holdings in shares of Cactus by 41.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 323,485 shares of the company’s stock valued at $16,203,000 after acquiring an additional 94,704 shares in the last quarter. Norden Group LLC lifted its position in shares of Cactus by 1,182.8% in the 1st quarter. Norden Group LLC now owns 117,252 shares of the company’s stock worth $5,873,000 after purchasing an additional 108,112 shares during the period. FCF Advisors LLC bought a new position in shares of Cactus during the first quarter valued at approximately $991,000. Congress Asset Management Co. MA increased its holdings in Cactus by 23.8% during the fourth quarter. Congress Asset Management Co. MA now owns 127,640 shares of the company’s stock valued at $5,795,000 after buying an additional 24,517 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Cactus by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 6,518,664 shares of the company’s stock valued at $295,947,000 after buying an additional 148,355 shares during the period. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

About Cactus

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers.