Cactus (NYSE:WHD) Price Target Increased to $48.00 by Analysts at Bank of America

Cactus (NYSE:WHD) had its price objective hoisted by investment analysts at Bank of America from $44.00 to $48.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s price objective suggests a potential downside of 23.82% from the stock’s previous close.

WHD has been the subject of several other research reports. Stifel Nicolaus reduced their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Friday. Piper Sandler decreased their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Citigroup raised their price objective on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Finally, Barclays boosted their target price on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.40.

Cactus Stock Performance

WHD traded up $0.04 during trading on Monday, hitting $63.01. The stock had a trading volume of 95,669 shares, compared to its average volume of 748,613. The firm has a market capitalization of $5.01 billion, a P/E ratio of 25.12, a PEG ratio of 2.29 and a beta of 1.95. 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 has a twelve month low of $37.58 and a twelve month high of $64.96. The company’s 50-day moving average price is $59.53 and its 200 day moving average price is $54.98.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The firm had revenue of $290.39 million for the quarter, compared to analyst estimates of $276.76 million. During the same quarter in the prior year, the company posted $0.84 earnings per share. Cactus’s quarterly revenue was down 5.0% on a year-over-year basis. On average, equities research analysts forecast that Cactus will post 3.04 EPS for the current fiscal year.

Institutional Trading of Cactus

A number of large investors have recently made changes to their positions in WHD. Creative Planning lifted its stake in shares of Cactus by 27.5% during the third quarter. Creative Planning now owns 11,292 shares of the company’s stock valued at $674,000 after buying an additional 2,433 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Cactus during the 3rd quarter worth $775,000. Barlow Wealth Partners Inc. boosted its holdings in shares of Cactus by 1.6% during the third quarter. Barlow Wealth Partners Inc. now owns 258,467 shares of the company’s stock worth $16,604,000 after purchasing an additional 3,960 shares during the last quarter. City Center Advisors LLC purchased a new stake in shares of Cactus in the third quarter valued at $396,000. Finally, GAMMA Investing LLC increased its stake in Cactus by 81.5% in the third quarter. GAMMA Investing LLC now owns 2,441 shares of the company’s stock valued at $146,000 after purchasing an additional 1,096 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Company Profile

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.