Piper Jaffray Companies Lowers Cactus (NYSE:WHD) Price Target to $34.00

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Cactus (NYSE:WHD) had its price target decreased by analysts at Piper Jaffray Companies from $42.00 to $34.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage presently has an “overweight” rating on the stock. Piper Jaffray Companies’ target price would suggest a potential upside of 12.96% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Barclays reissued a “buy” rating and set a $41.00 price target on shares of Cactus in a research report on Monday, May 6th. Royal Bank of Canada set a $43.00 price target on Cactus and gave the company a “buy” rating in a research report on Friday, May 3rd. Raymond James set a $45.00 price target on Cactus and gave the company a “buy” rating in a research report on Friday, May 3rd. Bank of America reissued a “buy” rating and set a $48.00 price target (up from $42.00) on shares of Cactus in a research report on Tuesday, April 16th. Finally, Zacks Investment Research raised Cactus from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Thursday, March 14th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Cactus currently has an average rating of “Buy” and an average target price of $42.27.

Shares of NYSE WHD opened at $30.10 on Tuesday. Cactus has a 52 week low of $24.60 and a 52 week high of $40.97. The company has a quick ratio of 2.46, a current ratio of 3.75 and a debt-to-equity ratio of 0.06. The company has a market cap of $2.30 billion, a P/E ratio of 16.91, a P/E/G ratio of 0.58 and a beta of 1.27.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. Cactus had a return on equity of 35.71% and a net margin of 12.71%. The firm had revenue of $158.88 million during the quarter, compared to analysts’ expectations of $153.04 million. As a group, equities research analysts anticipate that Cactus will post 2.03 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Insight Wealth Strategies LLC acquired a new stake in shares of Cactus in the fourth quarter valued at approximately $356,000. FMR LLC lifted its position in shares of Cactus by 8.3% in the fourth quarter. FMR LLC now owns 2,072,007 shares of the company’s stock valued at $56,794,000 after buying an additional 157,952 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Cactus by 31.2% in the fourth quarter. American Century Companies Inc. now owns 72,112 shares of the company’s stock valued at $1,977,000 after buying an additional 17,160 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Cactus in the first quarter valued at approximately $1,383,000. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of Cactus by 3.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 8,874 shares of the company’s stock valued at $243,000 after buying an additional 308 shares during the last quarter. 61.80% of the stock is owned by institutional investors.

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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