Cactus (NYSE:WHD) PT Lowered to $57.00

Cactus (NYSE:WHD) had its price objective reduced by Barclays from $60.00 to $57.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 30.97% from the stock’s previous close.

A number of other research firms also recently issued reports on WHD. Benchmark reiterated a “buy” rating and issued a $60.00 price objective on shares of Cactus in a report on Tuesday, August 8th. Bank of America downgraded Cactus from a “neutral” rating to an “underperform” rating and increased their price objective for the stock from $46.00 to $47.00 in a report on Monday, October 16th. JPMorgan Chase & Co. initiated coverage on Cactus in a report on Wednesday, September 13th. They issued a “neutral” rating and a $60.00 price objective for the company. Citigroup increased their price objective on Cactus from $40.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, July 18th. Finally, Piper Sandler decreased their price objective on Cactus from $59.00 to $55.00 and set a “neutral” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $57.00.

Cactus Price Performance

Shares of Cactus stock opened at $43.52 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 2.78 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.46 billion, a PE ratio of 18.84, a P/E/G ratio of 1.50 and a beta of 2.03. The business has a 50 day moving average of $48.92 and a 200 day moving average of $45.67. Cactus has a 52 week low of $31.36 and a 52 week high of $57.40.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, November 8th. The company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.01). The business had revenue of $287.80 million for the quarter, compared to the consensus estimate of $288.20 million. Cactus had a net margin of 14.97% and a return on equity of 23.99%. Cactus’s revenue was up 56.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 EPS. As a group, equities research analysts forecast that Cactus will post 3.12 earnings per share for the current year.

Insider Transactions at Cactus

In related news, President Joel Bender sold 141,300 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $55.41, for a total transaction of $7,829,433.00. Following the sale, the president now directly owns 114,982 shares of the company’s stock, valued at $6,371,152.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, President Joel Bender sold 141,300 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $55.41, for a total transaction of $7,829,433.00. Following the sale, the president now directly owns 114,982 shares of the company’s stock, valued at $6,371,152.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott Bender sold 108,700 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $56.18, for a total value of $6,106,766.00. Following the sale, the chief executive officer now directly owns 219,320 shares in the company, valued at $12,321,397.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 298,870 shares of company stock valued at $16,514,803. Insiders own 17.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Strs Ohio lifted its holdings in Cactus by 5.3% in the second quarter. Strs Ohio now owns 116,600 shares of the company’s stock valued at $4,934,000 after acquiring an additional 5,900 shares during the period. Shell Asset Management Co. bought a new position in shares of Cactus in the second quarter worth about $143,000. State of New Jersey Common Pension Fund D raised its stake in shares of Cactus by 54.4% in the second quarter. State of New Jersey Common Pension Fund D now owns 75,865 shares of the company’s stock worth $3,211,000 after buying an additional 26,722 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Cactus by 12.1% in the second quarter. Bank of New York Mellon Corp now owns 2,648,062 shares of the company’s stock worth $112,066,000 after buying an additional 286,714 shares during the period. Finally, Congress Asset Management Co. MA raised its stake in shares of Cactus by 4.5% in the second quarter. Congress Asset Management Co. MA now owns 83,390 shares of the company’s stock worth $3,529,000 after buying an additional 3,560 shares during the period. Institutional investors own 85.11% of the company’s stock.

About Cactus

Cactus, Inc designs, manufactures, and sells a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.