Barclays Issues Pessimistic Forecast for Cactus (NYSE:WHD) Stock Price

Cactus (NYSE:WHD) had its price objective decreased by stock analysts at Barclays from $54.00 to $53.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 17.52% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Stifel Nicolaus dropped 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, May 2nd. JPMorgan Chase & Co. lowered their price target on shares of Cactus from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $52.33.

Cactus Price Performance

NYSE:WHD opened at $45.10 on Friday. The firm’s fifty day moving average is $41.85 and its two-hundred day moving average is $50.25. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 16.05 and a beta of 1.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.47 and a current ratio of 4.85. Cactus has a one year low of $33.80 and a one year high of $70.01.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $280.32 million during the quarter, compared to analysts’ expectations of $272.22 million. Cactus had a return on equity of 18.99% and a net margin of 16.78%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. Research analysts expect that Cactus will post 3.08 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Emerald Advisers LLC raised its position in Cactus by 20.6% during the fourth quarter. Emerald Advisers LLC now owns 307,315 shares of the company’s stock worth $17,935,000 after acquiring an additional 52,552 shares during the period. Principal Financial Group Inc. grew its position in shares of Cactus by 4.4% in the fourth quarter. Principal Financial Group Inc. now owns 357,313 shares of the company’s stock valued at $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% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 701,485 shares of the company’s stock valued at $40,939,000 after purchasing an additional 13,669 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Cactus during the fourth quarter worth about $16,377,000. Finally, Axiom Investors LLC DE increased its stake 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. Hedge funds and other 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.