Cactus (NYSE:WHD) Price Target Raised to $66.00

Cactus (NYSE:WHD) had its price target raised by analysts at Stifel Nicolaus from $59.00 to $66.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 8.42% from the company’s previous close.

Several other research firms have also issued reports on WHD. Piper Sandler lifted their price target on shares of Cactus from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday. Citigroup lifted their price target on shares of Cactus from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Barclays increased their price target on Cactus from $62.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Zacks Research cut Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Wall Street Zen cut Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.50.

Cactus Trading Up 0.9%

WHD stock opened at $60.87 on Wednesday. The company has a market capitalization of $4.88 billion, a PE ratio of 57.43, a P/E/G ratio of 2.30 and a beta of 1.37. Cactus has a 12 month low of $33.20 and a 12 month high of $61.51. The firm’s 50-day moving average is $51.97 and its 200 day moving average is $50.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 1.71.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The firm had revenue of $388.35 million for the quarter, compared to analyst estimates of $380.42 million. During the same quarter last year, the firm posted $0.73 earnings per share. The business’s revenue for the quarter was up 38.5% on a year-over-year basis. On average, research analysts anticipate that Cactus will post 2.84 EPS for the current year.

Insider Activity

In other news, Director Alan Semple sold 10,206 shares of Cactus stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total transaction of $577,863.72. Following the completion of the transaction, the director directly owned 29,444 shares of the company’s stock, valued at $1,667,119.28. The trade was a 25.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Y. Mcgovern sold 12,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total transaction of $678,840.00. Following the sale, the director directly owned 15,990 shares in the company, valued at approximately $904,554.30. The trade was a 42.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 222,206 shares of company stock valued at $11,295,784 in the last three months. 12.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cactus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WHD. EverSource Wealth Advisors LLC lifted its holdings in Cactus by 67.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $25,000 after purchasing an additional 259 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in Cactus during the third quarter worth approximately $33,000. Aster Capital Management DIFC Ltd grew its holdings in shares of Cactus by 73.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after purchasing an additional 314 shares during the period. Huntington National Bank grew its holdings in shares of Cactus by 55.4% during the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock worth $43,000 after purchasing an additional 390 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in shares of Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after acquiring an additional 543 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.