Cactus (NYSE:WHD) PT Raised to $50.00 at Barclays

Cactus (NYSE:WHD) had its price target hoisted by Barclays from $42.00 to $50.00 in a research report issued on Monday, The Fly reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 9.70% from the stock’s previous close.

Several other equities analysts have also recently commented on WHD. Stifel Nicolaus upped their target price on shares of Cactus from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, July 2nd. Zacks Investment Research upgraded shares of Cactus from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Monday, July 12th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $35.78.

NYSE WHD opened at $45.58 on Monday. The company has a current ratio of 6.44, a quick ratio of 5.24 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $37.03 and a 200 day simple moving average of $35.91. The company has a market cap of $3.45 billion, a P/E ratio of 79.97 and a beta of 2.40. Cactus has a 1 year low of $16.11 and a 1 year high of $46.94.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, July 28th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.02). The company had revenue of $108.89 million for the quarter, compared to analyst estimates of $103.50 million. Cactus had a net margin of 9.77% and a return on equity of 4.45%. Equities research analysts forecast that Cactus will post 0.68 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital International Investors raised its position in shares of Cactus by 4.1% in the 1st quarter. Capital International Investors now owns 1,300,791 shares of the company’s stock valued at $39,830,000 after acquiring an additional 50,891 shares during the period. Pinz Capital Management LP acquired a new stake in shares of Cactus in the 1st quarter valued at approximately $5,605,000. Brinker Capital Investments LLC acquired a new stake in shares of Cactus in the 2nd quarter valued at approximately $247,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Cactus in the 1st quarter valued at approximately $1,617,000. Finally, Victory Capital Management Inc. raised its position in shares of Cactus by 261.2% in the 2nd quarter. Victory Capital Management Inc. now owns 652,040 shares of the company’s stock valued at $23,943,000 after acquiring an additional 471,541 shares during the period. 77.07% of the stock is currently owned by institutional investors.

About Cactus

Cactus, Inc is a holding company, which engages in the design, manufacture and sale of wellhead and pressure control equipment. Its products include Cactus SafeDrill wellhead systems as well as frac stacks, Cactus SafeLink monobore, SafeClamp and SafeInject systems. It also offers field services for its products and rental items to assist with the installation, maintenance, and handling of the wellhead and pressure control equipment.

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Analyst Recommendations for Cactus (NYSE:WHD)

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