Cactus (NYSE:WHD) Price Target Lowered to $40.00 at Raymond James

Cactus (NYSE:WHD) had its price target cut by Raymond James from $42.00 to $40.00 in a research note released on Friday morning, BenzingaRatingsTable reports. The firm currently has a strong-buy rating on the stock.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada set a $43.00 target price on shares of Cactus and gave the stock a buy rating in a research note on Friday, May 3rd. Zacks Investment Research lowered shares of Cactus from a strong-buy rating to a hold rating in a research note on Saturday, June 15th. Barclays restated a buy rating and set a $41.00 target price on shares of Cactus in a research note on Monday, May 6th. Piper Jaffray Companies cut their target price on shares of Cactus from $42.00 to $34.00 and set an overweight rating on the stock in a research note on Tuesday, June 18th. Finally, Bank of America restated a buy rating and set a $39.00 target price (down from $50.00) on shares of Cactus in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $41.00.

NYSE:WHD traded down $0.54 on Friday, reaching $29.46. 553,134 shares of the company’s stock were exchanged, compared to its average volume of 526,154. The company has a quick ratio of 2.46, a current ratio of 3.75 and a debt-to-equity ratio of 0.06. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. The business has a fifty day simple moving average of $31.01. Cactus has a 52-week low of $24.60 and a 52-week high of $40.97.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, July 31st. The company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. Cactus had a net margin of 13.56% and a return on equity of 36.11%. The firm had revenue of $168.50 million for the quarter, compared to analyst estimates of $162.27 million. During the same period in the prior year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. As a group, research analysts anticipate that Cactus will post 1.95 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in Cactus by 31.2% in the fourth quarter. American Century Companies Inc. now owns 72,112 shares of the company’s stock valued at $1,977,000 after purchasing an additional 17,160 shares in the last quarter. FMR LLC boosted its holdings in shares of Cactus by 8.3% in the fourth quarter. FMR LLC now owns 2,072,007 shares of the company’s stock valued at $56,794,000 after acquiring an additional 157,952 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Cactus in the first quarter valued at approximately $1,383,000. Legal & General Group Plc boosted its holdings in shares of Cactus by 9.1% in the fourth quarter. Legal & General Group Plc now owns 6,853 shares of the company’s stock valued at $188,000 after acquiring an additional 572 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Cactus by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 389,641 shares of the company’s stock valued at $10,680,000 after acquiring an additional 28,904 shares during the period. 61.65% of the stock is 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.

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Analyst Recommendations for Cactus (NYSE:WHD)

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