Cactus (NYSE:WHD) Price Target Lowered to $54.00 at Barclays

Cactus (NYSE:WHD) had its target price cut by research analysts at Barclays from $61.00 to $54.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 11.34% from the stock’s previous close.

Cactus Stock Performance

Shares of NYSE WHD opened at $48.50 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The stock has a 50 day moving average price of $59.70 and a 200 day moving average price of $61.01. The stock has a market capitalization of $3.86 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 5.13 and a beta of 1.97. Cactus has a 52 week low of $44.57 and a 52 week high of $70.01.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.01). The company had revenue of $272.12 million during the quarter, compared to analyst estimates of $277.59 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. Analysts predict that Cactus will post 3.08 earnings per share for the current fiscal year.

Institutional Trading of Cactus

Several hedge funds and other institutional investors have recently modified their holdings of WHD. Nisa Investment Advisors LLC boosted its holdings in shares of Cactus by 10.8% during the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock worth $188,000 after acquiring an additional 307 shares during the period. New York State Teachers Retirement System boosted its stake in Cactus by 1.3% in the 3rd quarter. New York State Teachers Retirement System now owns 15,500 shares of the company’s stock valued at $925,000 after purchasing an additional 200 shares during the period. First Trust Direct Indexing L.P. acquired a new position in Cactus in the 3rd quarter valued at $226,000. Principal Financial Group Inc. increased its position in Cactus by 4.8% during the 3rd quarter. Principal Financial Group Inc. now owns 342,278 shares of the company’s stock worth $20,424,000 after buying an additional 15,760 shares during the period. Finally, Portside Wealth Group LLC acquired a new stake in shares of Cactus during the third quarter worth $243,000. 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.