Cactus (NYSE:WHD) Price Target Cut to $52.00

Cactus (NYSE:WHD – Get Rating) had its price objective dropped by stock analysts at Citigroup from $60.00 to $52.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 11.25% from the stock’s previous close.

Several other research firms have also recently issued reports on WHD. Benchmark assumed coverage on Cactus in a research report on Thursday, January 19th. They set a “buy” rating and a $70.00 target price for the company. Barclays dropped their price target on Cactus from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Bank of America increased their price target on Cactus from $45.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, November 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Cactus currently has a consensus rating of “Hold” and an average target price of $57.00.

Cactus Stock Performance

NYSE:WHD opened at $46.74 on Tuesday. The company has a current ratio of 4.74, a quick ratio of 3.51 and a debt-to-equity ratio of 0.01. Cactus has a 12-month low of $34.70 and a 12-month high of $64.18. The stock has a 50-day moving average price of $51.75 and a 200 day moving average price of $48.57. The stock has a market capitalization of $3.55 billion, a P/E ratio of 26.11, a P/E/G ratio of 0.44 and a beta of 1.92.

Institutional Investors Weigh In On Cactus

Several institutional investors have recently modified their holdings of the stock. Natixis bought a new stake in shares of Cactus in the 4th quarter valued at approximately $1,298,000. Macquarie Group Ltd. lifted its stake in shares of Cactus by 1.8% in the 4th quarter. Macquarie Group Ltd. now owns 965,334 shares of the company’s stock valued at $48,518,000 after purchasing an additional 17,465 shares during the last quarter. Point72 Middle East FZE bought a new stake in shares of Cactus in the 4th quarter valued at approximately $252,000. State of Wyoming bought a new stake in shares of Cactus in the 4th quarter valued at approximately $28,000. Finally, Chartwell Investment Partners LLC lifted its stake in shares of Cactus by 10.3% in the 4th quarter. Chartwell Investment Partners LLC now owns 331,122 shares of the company’s stock valued at $16,642,000 after purchasing an additional 31,037 shares during the last quarter. 83.06% of the stock is owned by institutional investors.

Cactus Company Profile

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Cactus, Inc is a holding company, which engages in the design, manufacture and sale of wellhead and pressure control equipment. Its products include Cactus SafeDrill wellhead systems as well as frac stacks, Cactus SafeLink monobore, SafeClamp and SafeInject systems. It also offers field services for its products and rental items to assist with the installation, maintenance, and handling of the wellhead and pressure control equipment.