Cactus (NYSE:WHD) PT Lowered to $34.00

Cactus (NYSE:WHD) had its target price trimmed by Piper Jaffray Companies from $42.00 to $34.00 in a report released on Tuesday morning, The Fly reports. The firm currently has an overweight rating on the stock. Piper Jaffray Companies also issued estimates for Cactus’ Q2 2019 earnings at $0.50 EPS, Q3 2019 earnings at $0.48 EPS, Q4 2019 earnings at $0.46 EPS, FY2019 earnings at $1.94 EPS, Q1 2020 earnings at $0.50 EPS, Q2 2020 earnings at $0.51 EPS, Q3 2020 earnings at $0.53 EPS, Q4 2020 earnings at $0.50 EPS and FY2020 earnings at $2.04 EPS.

WHD has been the topic of several other research reports. Royal Bank of Canada upped their price objective on shares of Cactus from $33.00 to $39.00 and gave the company an outperform rating in a report on Friday, March 8th. Zacks Investment Research downgraded shares of Cactus from a strong-buy rating to a hold rating in a report on Saturday, June 15th. Raymond James increased their price target on shares of Cactus from $39.00 to $44.00 and gave the stock a strong-buy rating in a report on Friday, March 8th. Citigroup increased their price target on shares of Cactus from $41.00 to $43.00 and gave the stock a buy rating in a report on Tuesday, March 12th. Finally, Barclays set a $40.00 price target on shares of Cactus and gave the stock a sell rating in a report on Friday, March 8th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Cactus currently has an average rating of Buy and an average target price of $42.27.

WHD opened at $31.35 on Tuesday. Cactus has a 52-week low of $24.60 and a 52-week high of $40.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.46 and a current ratio of 3.75. The stock has a market cap of $2.26 billion, a PE ratio of 17.61, a P/E/G ratio of 0.58 and a beta of 1.27.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. Cactus had a net margin of 12.71% and a return on equity of 35.71%. The firm had revenue of $158.88 million for the quarter, compared to the consensus estimate of $153.04 million. On average, analysts anticipate that Cactus will post 2.02 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its holdings in Cactus by 396.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,128 shares of the company’s stock worth $40,000 after buying an additional 901 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of Cactus by 83.2% during the 4th quarter. Great West Life Assurance Co. Can now owns 4,071 shares of the company’s stock worth $108,000 after purchasing an additional 1,849 shares during the period. Legal & General Group Plc grew its stake in shares of Cactus by 9.1% during the 4th quarter. Legal & General Group Plc now owns 6,853 shares of the company’s stock worth $188,000 after purchasing an additional 572 shares during the period. Brinker Capital Inc. acquired a new stake in shares of Cactus during the 1st quarter worth approximately $257,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Cactus during the 1st quarter worth approximately $274,000. Institutional investors own 61.80% of the company’s stock.

Cactus Company Profile

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.

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Analyst Recommendations for Cactus (NYSE:WHD)

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