Cactus (NYSE:WHD) had its price target lowered by Citigroup from $38.00 to $37.00 in a research note released on Monday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the stock.
Several other research analysts have also recently issued reports on the company. Piper Jaffray Companies decreased their price target on Cactus from $42.00 to $34.00 and set an overweight rating for the company in a research note on Tuesday, June 18th. Raymond James decreased their target price on Cactus from $42.00 to $40.00 and set a strong-buy rating for the company in a research note on Friday, August 2nd. ValuEngine cut Cactus from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Bank of America reaffirmed a buy rating and set a $39.00 target price (down previously from $50.00) on shares of Cactus in a research note on Tuesday, June 25th. Finally, Zacks Investment Research cut Cactus from a strong-buy rating to a hold rating in a research note on Saturday, June 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $40.00.
NYSE:WHD opened at $29.13 on Monday. Cactus has a 1 year low of $24.23 and a 1 year high of $40.97. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 2.65 and a beta of 1.15. The business has a fifty day moving average of $27.52 and a 200-day moving average of $32.34. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.74 and a current ratio of 3.92.
Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. Cactus had a return on equity of 34.10% and a net margin of 13.56%. The company had revenue of $168.50 million during the quarter, compared to analysts’ expectations of $162.27 million. During the same quarter in the prior year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. On average, equities research analysts predict that Cactus will post 1.87 EPS for the current year.
Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC bought a new position in Cactus during the second quarter valued at about $36,000. HMS Capital Management LLC acquired a new position in shares of Cactus in the 2nd quarter valued at $49,000. US Bancorp DE boosted its position in shares of Cactus by 20.8% in the 2nd quarter. US Bancorp DE now owns 2,961 shares of the company’s stock valued at $98,000 after purchasing an additional 510 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cactus by 87.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,387 shares of the company’s stock valued at $112,000 after purchasing an additional 1,582 shares during the period. Finally, Aperio Group LLC acquired a new position in shares of Cactus in the 2nd quarter valued at $238,000. 64.30% of the stock is owned by institutional investors and hedge funds.
Cactus Company Profile
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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