JPMorgan Chase & Co. Has Lowered Expectations for Cactus (NYSE:WHD) Stock Price

Cactus (NYSE:WHD - Get Free Report) had its target price decreased by investment analysts at JPMorgan Chase & Co. from $52.00 to $50.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 20.17% from the stock's previous close.

Several other brokerages also recently commented on WHD. Barclays lowered their price target on Cactus from $54.00 to $51.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Stifel Nicolaus decreased their price target 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $52.00.

Cactus Stock Down 1.4%

Shares of WHD traded down $0.58 during midday trading on Wednesday, hitting $41.61. The company had a trading volume of 77,952 shares, compared to its average volume of 795,840. Cactus has a 52 week low of $33.80 and a 52 week high of $70.01. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 5.13 and a beta of 1.50. The company's 50 day moving average price is $40.86 and its 200 day moving average price is $53.05.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Emerald Advisers LLC lifted its position in Cactus by 20.6% during the 4th quarter. Emerald Advisers LLC now owns 307,315 shares of the company's stock worth $17,935,000 after buying an additional 52,552 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Cactus by 4.4% during the fourth quarter. Principal Financial Group Inc. now owns 357,313 shares of the company's stock worth $20,853,000 after purchasing an additional 15,035 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Cactus by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 701,485 shares of the company's stock worth $40,939,000 after buying an additional 13,669 shares during the period. Raymond James Financial Inc. acquired a new position in Cactus during the fourth quarter valued at approximately $16,377,000. Finally, Axiom Investors LLC DE boosted its position in shares of Cactus by 26.0% during the fourth quarter. Axiom Investors LLC DE now owns 149,317 shares of the company's stock worth $8,714,000 after purchasing an additional 30,851 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

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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