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

Cactus (NYSE:WHD - Get Free Report) was upgraded by equities researchers at Barclays from an "equal weight" rating to an "overweight" rating in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage presently has a $54.00 price target on the stock, up from their previous price target of $51.00. Barclays's price target points to a potential upside of 20.13% from the company's previous close.

A number of other research analysts also recently issued reports on WHD. Stifel Nicolaus cut their target price on shares of Cactus from $61.00 to $57.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. decreased their price target on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $52.50.

Cactus Price Performance

WHD stock traded up $0.46 during midday trading on Wednesday, reaching $44.95. 864,634 shares of the company's stock traded hands, compared to its average volume of 803,578. The company has a 50-day simple moving average of $40.35 and a two-hundred day simple moving average of $52.15. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. Cactus has a 1-year low of $33.80 and a 1-year high of $70.01. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 5.13 and a beta of 1.50.

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

Institutional Trading of Cactus

Institutional investors have recently modified their holdings of the stock. Oarsman Capital Inc. bought a new stake in Cactus during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC raised its position in shares of Cactus by 74.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 522 shares of the company's stock valued at $30,000 after buying an additional 223 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock worth $47,000 after acquiring an additional 543 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Cactus by 66.9% in the fourth quarter. Jones Financial Companies Lllp now owns 841 shares of the company's stock worth $49,000 after acquiring an additional 337 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Cactus during the first quarter worth $57,000. 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.