Cactus (NYSE:WHD) Price Target Cut to $54.00

Cactus (NYSE:WHD) had its price target decreased by analysts at Piper Sandler from $55.00 to $54.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price would suggest a potential downside of 3.00% from the stock’s previous close.

WHD has been the subject of several other research reports. Bank of America boosted their target price on shares of Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a research report on Monday, April 15th. Johnson Rice downgraded Cactus from a “buy” rating to an “accumulate” rating in a report on Friday, May 31st. Barclays boosted their price target on Cactus from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Citigroup lifted their price objective on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Finally, Benchmark reaffirmed a “hold” rating on shares of Cactus in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.00.

Cactus Stock Performance

NYSE:WHD opened at $55.67 on Monday. Cactus has a 1-year low of $37.58 and a 1-year high of $57.00. The firm has a 50-day moving average of $51.17 and a two-hundred day moving average of $47.94. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.24 and a quick ratio of 2.17. The stock has a market cap of $4.43 billion, a P/E ratio of 22.18, a PEG ratio of 1.75 and a beta of 1.98.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Cactus had a return on equity of 22.46% and a net margin of 14.46%. The company had revenue of $274.12 million for the quarter, compared to analyst estimates of $270.70 million. During the same period in the prior year, the company posted $0.64 EPS. Cactus’s quarterly revenue was up 20.0% on a year-over-year basis. On average, research analysts expect that Cactus will post 2.94 earnings per share for the current fiscal year.

Insider Activity at Cactus

In other Cactus news, EVP William D. Marsh sold 2,059 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $51.03, for a total value of $105,070.77. Following the completion of the transaction, the executive vice president now owns 1,852 shares in the company, valued at approximately $94,507.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP William D. Marsh sold 2,059 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $51.03, for a total transaction of $105,070.77. Following the completion of the transaction, the executive vice president now directly owns 1,852 shares in the company, valued at $94,507.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott Bender sold 39,957 shares of Cactus stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $51.01, for a total value of $2,038,206.57. Following the sale, the chief executive officer now directly owns 400,234 shares in the company, valued at approximately $20,415,936.34. The disclosure for this sale can be found here. Insiders have sold a total of 602,059 shares of company stock worth $30,948,949 in the last ninety days. 17.72% of the stock is owned by insiders.

Institutional Trading of Cactus

A number of hedge funds and other institutional investors have recently modified their holdings of WHD. Vanguard Group Inc. boosted its holdings in Cactus by 0.4% during the third quarter. Vanguard Group Inc. now owns 6,370,309 shares of the company’s stock worth $319,853,000 after buying an additional 23,018 shares in the last quarter. Dfpg Investments LLC lifted its stake in Cactus by 14.5% during the fourth quarter. Dfpg Investments LLC now owns 5,676 shares of the company’s stock valued at $254,000 after buying an additional 718 shares in the last quarter. Vest Financial LLC purchased a new stake in shares of Cactus in the fourth quarter valued at $246,000. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Cactus by 43.3% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 412,220 shares of the company’s stock worth $18,715,000 after buying an additional 124,620 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Cactus by 198.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 208,010 shares of the company’s stock valued at $9,444,000 after buying an additional 138,294 shares during the period. Institutional investors 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.