Cactus (NYSE:WHD) Price Target Raised to $66.00 at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised Cactus’s price target from $59 to $66 while keeping a buy rating, implying about 8.4% upside from the current share price.
• Cactus reported stronger-than-expected quarterly results, with EPS of $0.70 beating estimates and revenue of $388.35 million topping forecasts; revenue also rose 38.5% year over year.
• Analyst sentiment remains mixed, with several firms recently adjusting ratings and targets, but MarketBeat still shows a consensus Moderate Buy and average target of $60.50.

Cactus (NYSE:WHD - Get Free Report) had its price target upped by equities researchers at Stifel Nicolaus from $59.00 to $66.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' target price indicates a potential upside of 8.42% from the company's current price.

Other equities research analysts have also issued reports about the stock. Zacks Research lowered shares of Cactus from a "strong-buy" rating to a "hold" rating in a report on Monday, January 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Cactus in a report on Friday, March 27th. Barclays lifted their target price on shares of Cactus from $62.00 to $70.00 and gave the company an "overweight" rating in a research note on Monday, May 11th. Wall Street Zen cut shares of Cactus from a "buy" rating to a "hold" rating in a research note on Saturday, March 21st. Finally, Piper Sandler lifted their target price on shares of Cactus from $69.00 to $72.00 and gave the company an "overweight" rating in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

Cactus Stock Up 0.9%

WHD stock opened at $60.87 on Wednesday. The stock has a market capitalization of $4.88 billion, a P/E ratio of 57.43, a P/E/G ratio of 2.30 and a beta of 1.37. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 1.71. The business has a fifty day moving average price of $51.97 and a 200-day moving average price of $50.18. Cactus has a 1-year low of $33.20 and a 1-year high of $61.51.

Cactus (NYSE:WHD - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.05. The business had revenue of $388.35 million during the quarter, compared to analysts' expectations of $380.42 million. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The firm's revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 earnings per share. Equities analysts forecast that Cactus will post 2.84 earnings per share for the current fiscal year.

Insider Transactions at Cactus

In other Cactus news, President Joel Bender sold 106,809 shares of Cactus stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $49.92, for a total value of $5,331,905.28. Following the completion of the transaction, the president directly owned 27,793 shares of the company's stock, valued at $1,387,426.56. This trade represents a 79.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Y. Mcgovern sold 12,000 shares of Cactus stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total transaction of $678,840.00. Following the completion of the transaction, the director directly owned 15,990 shares of the company's stock, valued at $904,554.30. The trade was a 42.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 222,206 shares of company stock valued at $11,295,784 in the last ninety days. Corporate insiders own 12.91% of the company's stock.

Hedge Funds Weigh In On Cactus

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its position in Cactus by 34.8% during the first quarter. Bank of America Corp DE now owns 659,889 shares of the company's stock valued at $31,259,000 after purchasing an additional 170,534 shares during the period. Janus Henderson Group PLC raised its position in Cactus by 0.6% during the first quarter. Janus Henderson Group PLC now owns 338,033 shares of the company's stock valued at $16,020,000 after purchasing an additional 2,029 shares during the period. Cim LLC raised its position in Cactus by 105.2% during the first quarter. Cim LLC now owns 9,792 shares of the company's stock valued at $464,000 after purchasing an additional 5,020 shares during the period. Amundi purchased a new stake in Cactus during the first quarter valued at approximately $434,000. Finally, California State Teachers Retirement System raised its position in Cactus by 25.1% during the first quarter. California State Teachers Retirement System now owns 81,437 shares of the company's stock valued at $3,858,000 after purchasing an additional 16,320 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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.

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