Stifel Nicolaus Forecasts Strong Price Appreciation for Cactus (NYSE:WHD) Stock

Cactus (NYSE:WHD) had its target price lifted by equities researchers at Stifel Nicolaus from $48.00 to $50.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 13.04% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cactus in a research report on Thursday. Bank of America raised Cactus from an “underperform” rating to a “neutral” rating and raised their target price for the company from $39.00 to $40.00 in a research report on Wednesday. Zacks Research lowered Cactus from a “hold” rating to a “strong sell” rating in a research report on Monday, September 8th. Wall Street Zen upgraded Cactus from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Barclays lowered their target price on Cactus from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cactus has a consensus rating of “Hold” and an average price target of $47.75.

Cactus Stock Performance

Shares of Cactus stock opened at $44.23 on Friday. Cactus has a 12 month low of $33.20 and a 12 month high of $70.01. The firm has a market capitalization of $3.53 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 9.26 and a beta of 1.48. The business’s fifty day simple moving average is $39.62 and its 200 day simple moving average is $41.51. The company has a current ratio of 5.28, a quick ratio of 3.48 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.09. Cactus had a return on equity of 16.02% and a net margin of 15.86%.The firm had revenue of $263.95 million during the quarter, compared to analyst estimates of $253.89 million. During the same period last year, the firm posted $0.74 EPS. The business’s revenue was down 10.0% compared to the same quarter last year. As a group, analysts anticipate that Cactus will post 3.08 EPS for the current year.

Insider Activity

In other Cactus news, EVP William D. Marsh sold 10,172 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $41.32, for a total value of $420,307.04. Following the sale, the executive vice president directly owned 11,088 shares in the company, valued at $458,156.16. The trade was a 47.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 13.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cactus

Several hedge funds have recently made changes to their positions in WHD. Salomon & Ludwin LLC bought a new position in Cactus in the 3rd quarter worth about $25,000. Advisors Asset Management Inc. boosted its stake in Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after purchasing an additional 543 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in Cactus in the 1st quarter worth about $57,000. Financial Harvest LLC bought a new position in Cactus in the 1st quarter worth about $130,000. Finally, CWM LLC boosted its stake in Cactus by 131.7% in the 2nd quarter. CWM LLC now owns 2,966 shares of the company’s stock worth $130,000 after purchasing an additional 1,686 shares during the period. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

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.