JPMorgan Chase & Co. Issues Pessimistic Forecast for Cactus (NYSE:WHD) Stock Price

Cactus (NYSE:WHD - Get Free Report) had its target price lowered by investment analysts at JPMorgan Chase & Co. from $54.00 to $52.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 29.75% from the stock's previous close.

A number of other brokerages have also recently weighed in on WHD. Stifel Nicolaus cut their price objective on shares of Cactus from $61.00 to $57.00 and set a "buy" rating on the stock in a research note on Friday. Barclays dropped their price target on shares of Cactus from $54.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Cactus has an average rating of "Hold" and an average target price of $52.33.

Cactus Price Performance

Shares of WHD opened at $40.08 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The company has a market cap of $3.19 billion, a P/E ratio of 14.21, a PEG ratio of 5.13 and a beta of 1.50. Cactus has a 12 month low of $33.80 and a 12 month high of $70.01. The stock has a fifty day moving average price of $42.46 and a 200 day moving average price of $55.08.

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

Institutional Trading of Cactus

Several institutional investors and hedge funds have recently added to or reduced their stakes in WHD. Oarsman Capital Inc. acquired a new position in shares of Cactus in the 4th quarter worth $26,000. Smartleaf Asset Management LLC boosted its stake in Cactus by 74.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 522 shares of the company's stock worth $30,000 after purchasing an additional 223 shares during the period. Versant Capital Management Inc raised its stake in Cactus by 165.4% during the 4th quarter. Versant Capital Management Inc now owns 576 shares of the company's stock valued at $34,000 after purchasing an additional 359 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 valued at $49,000 after purchasing an additional 337 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Cactus during the fourth quarter valued at $76,000. 85.11% of the stock is owned by institutional investors and hedge funds.

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.

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