Cactus’ (NYSE:WHD) quiet period is set to expire on Tuesday, March 20th. Cactus had issued 23,000,000 shares in its IPO on February 8th. The total size of the offering was $437,000,000 based on an initial share price of $19.00. During Cactus’ quiet period, insiders and underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
A number of equities analysts have recently commented on WHD shares. Citigroup started coverage on shares of Cactus in a research report on Tuesday, March 6th. They set a “buy” rating on the stock. Piper Jaffray Companies started coverage on shares of Cactus in a research report on Monday, March 5th. They set an “overweight” rating on the stock. Bank of America started coverage on shares of Cactus in a research report on Monday, March 5th. They set a “buy” rating and a $30.00 target price on the stock. Credit Suisse Group started coverage on shares of Cactus in a research report on Monday, March 5th. They set an “outperform” rating and a $31.00 target price on the stock. Finally, Howard Weil started coverage on shares of Cactus in a research report on Monday, March 5th. They set a “sector outperform” rating on the stock. Eight analysts have rated the stock with a buy rating, Cactus presently has a consensus rating of “Buy” and a consensus price target of $31.00.
Cactus (NYSE WHD) opened at $26.85 on Tuesday. Cactus has a 1 year low of $19.18 and a 1 year high of $27.49.
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Cactus, Inc is focused on designing, manufacturing, selling and renting a wellheads and pressure control equipment. Its principal products, include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds and production trees. The Cactus SafeDrill wellhead systems employ technology traditionally associated with deepwater applications, which allows technicians to land and secure casing strings safely from the rig floor without the need to descend into the well cellar.
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