Cactus (NYSE:WHD) Upgraded by Barclays to "Overweight" Rating

Cactus (NYSE:WHD - Get Free Report) was upgraded by Barclays from an "equal weight" rating to an "overweight" rating in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage currently has a $54.00 price objective on the stock, up from their prior price objective of $51.00. Barclays's target price points to a potential upside of 18.19% from the company's current price.

WHD has been the topic of a number of other reports. JPMorgan Chase & Co. cut their target price on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Stifel Nicolaus cut their target price on Cactus from $61.00 to $57.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $52.50.

Cactus Stock Performance

Cactus stock traded up $0.77 during mid-day trading on Wednesday, reaching $45.69. The company's stock had a trading volume of 503,521 shares, compared to its average volume of 807,182. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 5.13 and a beta of 1.49. The business has a 50 day moving average price of $40.32 and a 200-day moving average price of $51.78. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. Cactus has a twelve month low of $33.80 and a twelve month high of $70.01.

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

Institutional Investors Weigh In On Cactus

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Cactus by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 7,680,731 shares of the company's stock valued at $448,247,000 after purchasing an additional 147,395 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Cactus by 7.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,947,835 shares of the company's stock valued at $135,100,000 after purchasing an additional 195,496 shares in the last quarter. Geode Capital Management LLC raised its stake 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 in the last quarter. Capital International Investors raised its stake in shares of Cactus by 14.8% during the fourth quarter. Capital International Investors now owns 1,686,858 shares of the company's stock valued at $98,445,000 after purchasing an additional 218,004 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Cactus by 34.6% during the fourth quarter. First Trust Advisors LP now owns 1,556,565 shares of the company's stock valued at $90,841,000 after purchasing an additional 400,452 shares in 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.