Barclays Issues Positive Forecast for Cactus (NYSE:WHD) Stock Price

Cactus (NYSE:WHD) had its target price lifted by equities research analysts at Barclays from $56.00 to $62.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 16.42% from the company’s current price.

A number of other research firms have also commented on WHD. Citigroup upgraded Cactus from a “neutral” rating to a “buy” rating and upped their price target for the company from $45.00 to $55.00 in a research report on Thursday, December 11th. Zacks Research downgraded shares of Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Piper Sandler assumed coverage on shares of Cactus in a research note on Tuesday, February 24th. They set an “overweight” rating and a $73.00 target price for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Cactus Price Performance

Cactus stock traded down $0.75 during mid-day trading on Monday, reaching $53.26. 60,228 shares of the company were exchanged, compared to its average volume of 973,495. The company has a fifty day simple moving average of $53.29 and a 200-day simple moving average of $45.40. The firm has a market cap of $4.25 billion, a PE ratio of 22.16, a PEG ratio of 5.53 and a beta of 1.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.81 and a quick ratio of 4.13. Cactus has a 12 month low of $33.20 and a 12 month high of $59.25.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. The firm had revenue of $261.20 million during the quarter, compared to analysts’ expectations of $250.60 million. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 earnings per share. As a group, equities research analysts expect that Cactus will post 3.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vest Financial LLC lifted its stake in Cactus by 35.3% in the third quarter. Vest Financial LLC now owns 107,899 shares of the company’s stock worth $4,259,000 after purchasing an additional 28,139 shares during the last quarter. Hudson Edge Investment Partners Inc. raised its holdings in shares of Cactus by 249.2% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 28,388 shares of the company’s stock valued at $1,120,000 after purchasing an additional 20,258 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Cactus in the 3rd quarter worth approximately $1,872,000. AGF Management Ltd. bought a new position in shares of Cactus during the second quarter valued at approximately $672,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in Cactus in the third quarter worth approximately $525,000. 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.