Stephens assumed coverage on shares of Cactus (NYSE:WHD) in a research report released on Wednesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $45.00 price objective on the stock.
WHD has been the topic of a number of other reports. Bank of America initiated coverage on Cactus in a research report on Monday, December 3rd. They issued a buy rating and a $36.00 price target on the stock. Zacks Investment Research raised Cactus from a hold rating to a strong-buy rating and set a $44.00 price target on the stock in a research report on Thursday, October 4th. Citigroup set a $42.00 price target on Cactus and gave the stock a buy rating in a research report on Friday, November 2nd. ValuEngine raised Cactus from a strong sell rating to a sell rating in a research report on Wednesday, January 2nd. Finally, Morgan Stanley initiated coverage on Cactus in a research report on Tuesday, September 18th. They issued an overweight rating and a $42.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $39.82.
Cactus stock traded up $0.86 during trading hours on Wednesday, hitting $30.29. 85,802 shares of the stock traded hands, compared to its average volume of 325,577. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.28 and a current ratio of 3.52. The stock has a market cap of $2.21 billion and a price-to-earnings ratio of 0.02. Cactus has a one year low of $19.18 and a one year high of $40.97.
Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.03. Cactus had a return on equity of 51.28% and a net margin of 11.31%. The business had revenue of $150.70 million for the quarter, compared to analysts’ expectations of $146.35 million. Cactus’s revenue was up 57.0% on a year-over-year basis. On average, analysts predict that Cactus will post 1.78 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in WHD. Rhumbline Advisers raised its holdings in Cactus by 21.1% in the 2nd quarter. Rhumbline Advisers now owns 25,690 shares of the company’s stock worth $868,000 after acquiring an additional 4,479 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Cactus by 165.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 218,305 shares of the company’s stock worth $7,377,000 after acquiring an additional 136,203 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Cactus by 117.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 241,776 shares of the company’s stock worth $8,170,000 after acquiring an additional 130,716 shares during the last quarter. Swiss National Bank purchased a new position in Cactus in the 2nd quarter worth approximately $1,554,000. Finally, GSA Capital Partners LLP purchased a new position in Cactus in the 2nd quarter worth approximately $734,000. Institutional investors own 50.67% of the company’s stock.
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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