Cactus (NYSE:WHD) Price Target Raised to $43.00

Cactus (NYSE:WHD) had its price objective hoisted by stock analysts at Bank of America from $40.00 to $43.00 in a report issued on Monday, Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s price objective would suggest a potential downside of 13.90% from the stock’s current price.

Other analysts have also issued research reports about the company. Stifel Nicolaus lowered their target price on Cactus from $68.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, January 3rd. Benchmark lowered Cactus from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $55.29.

Cactus Stock Down 0.8 %

Shares of NYSE WHD opened at $49.94 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.00 and a current ratio of 3.17. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 8.63 and a beta of 1.96. The stock has a 50 day moving average price of $47.55 and a 200 day moving average price of $45.41. Cactus has a 52-week low of $31.36 and a 52-week high of $57.00.

Cactus (NYSE:WHD) last posted its earnings results on Thursday, February 29th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The company had revenue of $274.87 million during the quarter, compared to analyst estimates of $268.56 million. Cactus had a return on equity of 22.69% and a net margin of 15.42%. Cactus’s revenue was up 46.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share. Sell-side analysts expect that Cactus will post 3.04 earnings per share for the current year.

Insider Activity

In related news, EVP William D. Marsh sold 1,700 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $46.20, for a total value of $78,540.00. Following the transaction, the executive vice president now directly owns 3,911 shares of the company’s stock, valued at approximately $180,688.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Scott Bender sold 78,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $45.79, for a total value of $3,571,620.00. Following the transaction, the chief executive officer now directly owns 20 shares of the company’s stock, valued at approximately $915.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP William D. Marsh sold 1,700 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $46.20, for a total value of $78,540.00. Following the completion of the transaction, the executive vice president now directly owns 3,911 shares in the company, valued at $180,688.20. The disclosure for this sale can be found here. Company insiders own 16.84% of the company’s stock.

Institutional Investors Weigh In On Cactus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its position in Cactus by 198.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 208,010 shares of the company’s stock worth $9,444,000 after purchasing an additional 138,294 shares during the period. Boston Trust Walden Corp grew its position in shares of Cactus by 1.4% during the 4th quarter. Boston Trust Walden Corp now owns 1,941,115 shares of the company’s stock valued at $88,127,000 after acquiring an additional 26,185 shares during the period. FMR LLC grew its position in shares of Cactus by 181.5% during the 3rd quarter. FMR LLC now owns 1,898,398 shares of the company’s stock valued at $95,319,000 after acquiring an additional 1,224,079 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Cactus by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 572,530 shares of the company’s stock valued at $28,747,000 after acquiring an additional 18,673 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Cactus by 13.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,979 shares of the company’s stock valued at $451,000 after acquiring an additional 1,071 shares during the period. 85.11% of the stock is owned by institutional investors and hedge funds.

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.