Barclays Issues Pessimistic Forecast for Cactus (NYSE:WHD) Stock Price

Cactus (NYSE:WHD) had its price target decreased by equities research analysts at Barclays from $54.00 to $51.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 24.51% from the stock’s previous close.

Separately, Stifel Nicolaus cut their price target on shares of Cactus from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $52.40.

Cactus Price Performance

Shares of NYSE:WHD opened at $40.96 on Friday. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 5.13 and a beta of 1.50. Cactus has a 1 year low of $33.80 and a 1 year high of $70.01. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $42.80 and a 200 day simple moving average of $55.26.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company had revenue of $280.32 million during the quarter, compared to the consensus estimate of $272.22 million. During the same period last year, the business earned $0.75 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts predict that Cactus will post 3.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cactus

A number of hedge funds have recently bought and sold shares of WHD. First Trust Advisors LP increased its stake in shares of Cactus by 34.6% in the fourth quarter. First Trust Advisors LP now owns 1,556,565 shares of the company’s stock worth $90,841,000 after purchasing an additional 400,452 shares during the period. Federated Hermes Inc. acquired a new stake in Cactus in the 4th quarter valued at approximately $19,235,000. Raymond James Financial Inc. acquired a new position in shares of Cactus during the fourth quarter worth approximately $16,377,000. Point72 Asset Management L.P. bought a new stake in shares of Cactus in the fourth quarter valued at approximately $14,285,000. Finally, Tudor Investment Corp ET AL grew its stake in shares of Cactus by 487.1% in the fourth quarter. Tudor Investment Corp ET AL now owns 282,271 shares of the company’s stock worth $16,473,000 after acquiring an additional 234,191 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors.

About Cactus

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.