Bank of America Increases Cactus (NYSE:WHD) Price Target to $48.00

Cactus (NYSE:WHD) had its price target boosted by analysts at Bank of America from $44.00 to $48.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s price target points to a potential downside of 21.45% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Citigroup raised their target price on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Stifel Nicolaus dropped their price target on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Piper Sandler dropped their price target on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Finally, Barclays lifted their price objective on shares of Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Cactus presently has a consensus rating of “Hold” and an average target price of $56.40.

Cactus Stock Down 2.9 %

Shares of Cactus stock opened at $61.11 on Monday. The company has a market cap of $4.86 billion, a P/E ratio of 24.35, a PEG ratio of 2.29 and a beta of 1.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.59 and a current ratio of 3.75. Cactus has a one year low of $37.58 and a one year high of $64.96. The firm has a fifty day moving average of $59.61 and a two-hundred day moving average of $55.07.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. The firm had revenue of $290.39 million for the quarter, compared to analysts’ expectations of $276.76 million. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The firm’s revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 EPS. On average, analysts forecast that Cactus will post 3.04 earnings per share for the current year.

Hedge Funds Weigh In On Cactus

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Cactus by 0.8% during the first quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company’s stock valued at $329,182,000 after acquiring an additional 53,142 shares during the period. Pacer Advisors Inc. bought a new position in Cactus in the 2nd quarter valued at about $122,623,000. Boston Trust Walden Corp grew its position in Cactus by 1.3% in the 2nd quarter. Boston Trust Walden Corp now owns 1,955,227 shares of the company’s stock valued at $103,119,000 after buying an additional 25,839 shares in the last quarter. Wasatch Advisors LP grew its position in Cactus by 39.1% in the 1st quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock valued at $66,921,000 after buying an additional 375,829 shares in the last quarter. Finally, Capital International Investors grew its position in Cactus by 3.9% in the 1st quarter. Capital International Investors now owns 1,293,233 shares of the company’s stock valued at $64,778,000 after buying an additional 48,379 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

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.