Cactus (NYSE:WHD) Stock Price Target Raised at Citigroup

Cactus (NYSE:WHD) had its price target hoisted by research analysts at Citigroup from $73.00 to $74.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup‘s price target indicates a potential upside of 18.94% from the stock’s current price.

WHD has been the topic of several other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a report on Tuesday, September 8th. Piper Sandler lifted their price target on Cactus from $75.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday. Wall Street Zen cut Cactus from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays raised their target price on Cactus from $74.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, October 15th. Finally, Stifel Nicolaus boosted their target price on Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Cactus has a consensus rating of “Moderate Buy” and a consensus target price of $74.75.

Cactus Stock Down 0.0%

WHD traded down $0.01 on Tuesday, hitting $62.21. 112,271 shares of the company were exchanged, compared to its average volume of 851,126. Cactus has a twelve month low of $39.16 and a twelve month high of $74.07. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 43.17, a price-to-earnings-growth ratio of 1.71 and a beta of 1.42. The company has a current ratio of 2.59, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $65.75 and a two-hundred day moving average price of $58.39.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.19. The business had revenue of $430.89 million for the quarter, compared to analyst estimates of $437.94 million. Cactus had a net margin of 6.69% and a return on equity of 18.24%. The company’s revenue was up 63.2% on a year-over-year basis. During the same period last year, the business earned $0.67 EPS. On average, equities analysts predict that Cactus will post 3.13 earnings per share for the current year.

Insider Transactions at Cactus

In other news, CEO Scott Bender sold 100,000 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $61.97, for a total transaction of $6,197,000.00. Following the completion of the sale, the chief executive officer owned 120,527 shares in the company, valued at approximately $7,469,058.19. This represents a 45.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steven Bender sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $67.65, for a total value of $1,691,250.00. Following the transaction, the chief executive officer directly owned 99,241 shares in the company, valued at approximately $6,713,653.65. This represents a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 225,000 shares of company stock worth $14,925,250. Company insiders own 12.91% of the company’s stock.

Institutional Investors Weigh In On Cactus

Large investors have recently modified their holdings of the stock. Parallel Advisors LLC grew its position in Cactus by 118.4% in the 3rd quarter. Parallel Advisors LLC now owns 2,022 shares of the company’s stock valued at $126,000 after buying an additional 1,096 shares during the last quarter. Your Advocates Ltd. LLP acquired a new position in Cactus in the 3rd quarter valued at $34,000. Alps Advisors Inc. purchased a new position in Cactus during the 3rd quarter worth $539,000. CenterBook Partners LP raised its position in Cactus by 81.0% during the 3rd quarter. CenterBook Partners LP now owns 22,654 shares of the company’s stock worth $1,410,000 after buying an additional 10,140 shares during the last quarter. Finally, Provenance Wealth Advisors LLC acquired a new stake in shares of Cactus in the 3rd quarter worth $303,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Company Profile

Cactus, Inc (NYSE: WHD) designs, manufactures, sells and rents wellhead and pressure-control equipment used in onshore oil and gas drilling and production. Its products are designed to help operators manage pressure and control access to wells during drilling, completion and production activities.

The company’s offerings include wellhead systems, frac stacks, zipper manifolds and other pressure-control equipment. Cactus also provides field services, including equipment installation, maintenance and support, as well as rental services for selected products.