Cactus (NYSE:WHD) Price Target Increased to $43.00 by Analysts at Bank of America

Cactus (NYSE:WHD - Get Free Report) had its target price raised by equities researchers at Bank of America from $40.00 to $43.00 in a research note issued on Monday, Benzinga reports. The firm currently has an "underperform" rating on the stock. Bank of America's price target suggests a potential downside of 14.57% from the stock's current price.

WHD has been the topic of several other research reports. Benchmark lowered shares of Cactus from a "buy" rating to a "hold" rating in a report on Tuesday, January 16th. Stifel Nicolaus reduced their price objective on Cactus from $68.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $55.29.

Cactus Stock Performance

Cactus stock traded down $0.59 during trading on Monday, hitting $50.34. The stock had a trading volume of 353,357 shares, compared to its average volume of 616,634. The stock's 50 day moving average is $47.21 and its two-hundred day moving average is $45.42. Cactus has a 1 year low of $31.36 and a 1 year high of $57.00. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 8.63 and a beta of 1.96. The company has a quick ratio of 2.00, a current ratio of 3.17 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.13. The firm had revenue of $274.87 million for the quarter, compared to analysts' expectations of $268.56 million. Cactus had a return on equity of 22.69% and a net margin of 15.42%. The business's revenue for the quarter was up 46.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS. As a group, analysts predict that Cactus will post 3.04 EPS for the current year.

Insider Transactions at Cactus

In other news, EVP William D. Marsh sold 1,700 shares of the business's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $46.20, for a total transaction of $78,540.00. Following the completion of the transaction, the executive vice president now directly owns 3,911 shares of the company's stock, valued at $180,688.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP William D. Marsh sold 1,700 shares of the firm's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $46.20, for a total value of $78,540.00. Following the transaction, the executive vice president now directly owns 3,911 shares in the company, valued at approximately $180,688.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Scott Bender sold 78,000 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $45.79, for a total value of $3,571,620.00. Following the sale, the chief executive officer now owns 20 shares of the company's stock, valued at approximately $915.80. The disclosure for this sale can be found here. Company insiders own 17.71% of the company's stock.

Institutional Investors Weigh In On Cactus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Cactus by 27.5% in the first quarter. GAMMA Investing LLC now owns 1,005 shares of the company's stock worth $50,000 after purchasing an additional 217 shares in the last quarter. Voya Investment Management LLC increased its stake in Cactus by 0.9% in the 4th quarter. Voya Investment Management LLC now owns 25,856 shares of the company's stock worth $1,174,000 after buying an additional 241 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Cactus by 59.9% during the third quarter. Public Employees Retirement System of Ohio now owns 678 shares of the company's stock valued at $26,000 after acquiring an additional 254 shares during the period. Arizona State Retirement System lifted its position in shares of Cactus by 1.5% in the third quarter. Arizona State Retirement System now owns 18,375 shares of the company's stock valued at $923,000 after acquiring an additional 273 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Cactus by 0.6% in the fourth quarter. Legal & General Group Plc now owns 66,626 shares of the company's stock valued at $3,025,000 after acquiring an additional 388 shares in the last quarter. Institutional investors own 85.11% of the company's stock.

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.