Cactus (NYSE:WHD) PT Raised to $48.00 at Bank of America

Cactus (NYSE:WHD - Get Free Report) had its price target increased by research analysts at Bank of America from $44.00 to $48.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an "underperform" rating on the stock. Bank of America's price target suggests a potential downside of 23.72% from the stock's previous close.

A number of other analysts also recently weighed in on WHD. Barclays upped their price target on shares of Cactus from $56.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday, August 5th. Citigroup raised their target price on Cactus from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Wednesday, July 10th. Piper Sandler decreased their price target on Cactus from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Monday, July 15th. Finally, Stifel Nicolaus dropped their price objective on Cactus from $69.00 to $67.00 and set a "buy" rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $56.40.

Cactus Price Performance

Cactus stock traded down $0.04 during mid-day trading on Monday, reaching $62.93. 251,276 shares of the company were exchanged, compared to its average volume of 749,401. The firm has a market cap of $5.01 billion, a PE ratio of 25.07, a PEG ratio of 2.29 and a beta of 1.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.75 and a quick ratio of 2.59. The company has a fifty day simple moving average of $59.61 and a 200-day simple moving average of $55.07. Cactus has a 12 month low of $37.58 and a 12 month high of $64.96.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.09. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The company had revenue of $290.39 million for the quarter, compared to analysts' expectations of $276.76 million. During the same quarter last year, the business earned $0.84 earnings per share. Cactus's revenue was down 5.0% on a year-over-year basis. As a group, equities research analysts expect that Cactus will post 3.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cactus

Several large investors have recently bought and sold shares of the company. Dana Investment Advisors Inc. raised its position in shares of Cactus by 0.6% in the 2nd quarter. Dana Investment Advisors Inc. now owns 31,807 shares of the company's stock worth $1,678,000 after acquiring an additional 202 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Cactus by 27.5% during the 1st quarter. GAMMA Investing LLC now owns 1,005 shares of the company's stock worth $50,000 after buying an additional 217 shares in the last quarter. Gilbert & Cook Inc. grew its position in shares of Cactus by 2.6% during the 1st quarter. Gilbert & Cook Inc. now owns 14,016 shares of the company's stock worth $702,000 after buying an additional 352 shares during the period. Bridge City Capital LLC increased its stake in shares of Cactus by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 69,590 shares of the company's stock valued at $3,486,000 after acquiring an additional 534 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Cactus by 3.3% in the 2nd quarter. Arizona State Retirement System now owns 18,341 shares of the company's stock valued at $967,000 after acquiring an additional 585 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors.

About Cactus

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.