Cactus (NYSE:WHD) Price Target Cut to $53.00 by Analysts at Stifel Nicolaus

Key Points

• Cactus (NYSE: WHD) had its price target cut from $57.00 to $53.00 by analysts at Stifel Nicolaus, while maintaining a "buy" rating on the stock.
• JPMorgan Chase & Co. and Barclays also lowered their price targets for Cactus, indicating a trend of decreasing valuations among analysts.
• During recent trading, Cactus shares traded down $2.43, reaching a price of $39.88, with the company reporting earnings that missed analyst expectations.

Cactus (NYSE:WHD - Get Free Report) had its price target reduced by stock analysts at Stifel Nicolaus from $57.00 to $53.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' price objective indicates a potential upside of 32.91% from the stock's current price.

WHD has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their price target on Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Barclays decreased their price target on Cactus from $54.00 to $53.00 and set an "overweight" rating for the company in a research report on Friday, June 20th.

Cactus Price Performance

NYSE:WHD traded down $2.43 during mid-day trading on Friday, reaching $39.88. 328,655 shares of the stock were exchanged, compared to its average volume of 715,125. The business has a fifty day moving average price of $44.64 and a 200 day moving average price of $47.25. The firm has a market capitalization of $3.18 billion, a PE ratio of 15.06, a PEG ratio of 4.12 and a beta of 1.48. Cactus has a 1-year low of $33.80 and a 1-year high of $70.01. The company has a current ratio of 4.85, a quick ratio of 3.47 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Cactus had a net margin of 16.19% and a return on equity of 17.65%. The company had revenue of $273.58 million during the quarter, compared to analyst estimates of $280.28 million. During the same quarter last year, the business earned $0.81 EPS. The company's revenue for the quarter was down 5.8% compared to the same quarter last year. Research analysts expect 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 and other institutional investors have recently made changes to their positions in WHD. LPL Financial LLC raised its stake in shares of Cactus by 25.2% during the 4th quarter. LPL Financial LLC now owns 12,689 shares of the company's stock worth $741,000 after purchasing an additional 2,553 shares in the last quarter. Norges Bank bought a new position in Cactus in the 4th quarter worth approximately $11,193,000. Pictet Asset Management Holding SA increased its position in Cactus by 23.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,508 shares of the company's stock worth $613,000 after buying an additional 2,025 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of Cactus by 1.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 10,382 shares of the company's stock valued at $606,000 after purchasing an additional 180 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Cactus by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 1,804,107 shares of the company's stock valued at $105,308,000 after purchasing an additional 45,821 shares during the period. 85.11% of the stock is 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.

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