Stifel Nicolaus Cuts Cactus (NYSE:WHD) Price Target to $67.00

Cactus (NYSE:WHD) had its price target cut by investment analysts at Stifel Nicolaus from $69.00 to $67.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 6.40% from the company’s previous close.

Several other research analysts have also weighed in on the company. Piper Sandler dropped their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Barclays upped their target price on Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Citigroup raised their price target on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. One 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.40.

Cactus Stock Performance

Cactus stock opened at $62.97 on Friday. Cactus has a fifty-two week low of $37.58 and a fifty-two week high of $64.96. The firm’s 50 day simple moving average is $59.53 and its 200-day simple moving average is $54.94. 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 market cap of $5.01 billion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 2.29 and a beta of 1.95.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.09. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The firm had revenue of $290.39 million for the quarter, compared to analysts’ expectations of $276.76 million. During the same period in the previous year, the company posted $0.84 EPS. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. As a group, equities research analysts predict that Cactus will post 3.04 EPS for the current year.

Institutional Investors Weigh In On Cactus

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in Cactus by 27.5% during the first quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock valued at $50,000 after acquiring an additional 217 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Cactus during the 1st quarter worth $115,000. Covestor Ltd raised its holdings in shares of Cactus by 251.8% during the 1st quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after purchasing an additional 1,795 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Cactus in the 1st quarter valued at $182,000. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in Cactus in the first quarter worth $202,000. 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.