Cactus (NYSE:WHD) Earns Overweight Rating from Barclays

Key Points

• Barclays has lowered its price target for Cactus (NYSE: WHD) from $53.00 to $52.00, while maintaining an "overweight" rating.
• Other analysts, including Stifel Nicolaus and JPMorgan Chase & Co., have also reduced their price targets for Cactus, reflecting a cautious outlook for the stock.
• Despite the lower price target, Cactus shares saw a slight increase of 0.4% on Monday, reaching $39.84, with a potential upside of 30.54% based on Barclays' new target.

Cactus (NYSE:WHD - Get Free Report)'s stock had its "overweight" rating reiterated by Barclays in a report released on Monday, Marketbeat.com reports. They currently have a $52.00 price target on the stock, down from their prior price target of $53.00. Barclays's price objective indicates a potential upside of 31.05% from the company's current price.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus dropped their target price on Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a report on Friday, August 1st. JPMorgan Chase & Co. lowered their target price on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th.

Cactus Stock Down 1.9%

Shares of NYSE:WHD traded down $0.76 during midday trading on Monday, hitting $39.68. 504,485 shares of the company's stock traded hands, compared to its average volume of 644,265. The firm's fifty day moving average price is $44.54 and its two-hundred day moving average price is $46.67. Cactus has a twelve month low of $33.80 and a twelve month high of $70.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.48 and a current ratio of 4.85. The company has a market cap of $3.17 billion, a PE ratio of 14.97, a P/E/G ratio of 3.70 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $273.58 million during the quarter, compared to analyst estimates of $280.28 million. Cactus had a return on equity of 17.34% and a net margin of 16.19%. Cactus's revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 EPS. On average, equities research analysts anticipate that Cactus will post 3.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Cactus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WHD. State of Tennessee Department of Treasury increased its position in Cactus by 0.5% during the fourth quarter. State of Tennessee Department of Treasury now owns 35,828 shares of the company's stock worth $2,091,000 after acquiring an additional 177 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Cactus by 1.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 10,382 shares of the company's stock worth $606,000 after purchasing an additional 180 shares during the period. Central Pacific Bank Trust Division raised its position in shares of Cactus by 7.5% during the first quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock valued at $164,000 after buying an additional 250 shares during the last quarter. Gilbert & Cook Inc. lifted its stake in shares of Cactus by 2.0% in the second quarter. Gilbert & Cook Inc. now owns 13,030 shares of the company's stock valued at $570,000 after buying an additional 259 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in Cactus by 5.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,133 shares of the company's stock worth $300,000 after buying an additional 269 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

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.