Cactus Inc (NYSE:WHD) – Investment analysts at Piper Jaffray Companies increased their Q1 2019 earnings estimates for shares of Cactus in a research note issued to investors on Thursday, November 1st. Piper Jaffray Companies analyst B. Herbert now anticipates that the company will post earnings per share of $0.50 for the quarter, up from their previous forecast of $0.48. Piper Jaffray Companies currently has a “Buy” rating and a $37.00 target price on the stock. Piper Jaffray Companies also issued estimates for Cactus’ Q2 2019 earnings at $0.53 EPS, Q3 2019 earnings at $0.57 EPS, Q4 2019 earnings at $0.59 EPS and FY2019 earnings at $2.19 EPS.
Other analysts have also recently issued research reports about the company. Citigroup set a $42.00 price objective on Cactus and gave the stock a “buy” rating in a research report on Friday. Johnson Rice upgraded Cactus from an “accumulate” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Thursday, August 30th. Barclays set a $39.00 price objective on Cactus and gave the stock a “buy” rating in a research report on Sunday, August 5th. Royal Bank of Canada lifted their price objective on Cactus to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 31st. Finally, Morgan Stanley assumed coverage on Cactus in a research report on Tuesday, September 18th. They set an “overweight” rating and a $42.00 price objective for the company. One analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.80.
Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $150.70 million during the quarter, compared to analysts’ expectations of $146.35 million. Cactus had a return on equity of 65.83% and a net margin of 11.31%. The company’s quarterly revenue was up 57.0% on a year-over-year basis.
A number of large investors have recently modified their holdings of WHD. Legal & General Group Plc acquired a new stake in Cactus in the 1st quarter worth about $111,000. Royal Bank of Canada acquired a new stake in Cactus in the 1st quarter worth about $115,000. BNP Paribas Arbitrage SA acquired a new stake in Cactus in the 1st quarter worth about $127,000. Macquarie Group Ltd. acquired a new stake in Cactus in the 2nd quarter worth about $199,000. Finally, Raymond James & Associates acquired a new stake in Cactus in the 2nd quarter worth about $212,000. 38.59% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Cactus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cactus and related companies with MarketBeat.com's FREE daily email newsletter.