Cactus’ (NYSE:WHD) “Buy” Rating Reiterated at Barclays

Cactus (NYSE:WHD)‘s stock had its “buy” rating reaffirmed by equities research analysts at Barclays in a research report issued to clients and investors on Monday, May 6th, AnalystRatings.com reports. They presently have a $41.00 target price on the stock. Barclays‘s price objective indicates a potential upside of 25.57% from the company’s current price.

Other analysts have also issued research reports about the stock. Royal Bank of Canada set a $43.00 target price on shares of Cactus and gave the stock a “buy” rating in a research note on Friday, May 3rd. Raymond James set a $45.00 target price on shares of Cactus and gave the stock a “buy” rating in a research note on Friday, May 3rd. Bank of America reiterated a “buy” rating and issued a $48.00 target price (up previously from $42.00) on shares of Cactus in a research note on Tuesday, April 16th. Zacks Investment Research upgraded shares of Cactus from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Thursday, March 14th. Finally, Citigroup upped their target price on shares of Cactus from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, March 12th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $42.55.

WHD stock traded down $0.89 during midday trading on Monday, reaching $32.65. 272,402 shares of the company’s stock traded hands, compared to its average volume of 627,202. The firm has a market capitalization of $2.51 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 0.64 and a beta of 1.15. The company has a current ratio of 3.75, a quick ratio of 2.46 and a debt-to-equity ratio of 0.06. Cactus has a 52 week low of $24.60 and a 52 week high of $40.97.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, May 1st. The company reported $0.49 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $153.04 million. On average, equities analysts predict that Cactus will post 2.02 earnings per share for the current fiscal year.

In related news, Director Alan Semple sold 9,130 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $35.93, for a total value of $328,040.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Joel Bender sold 1,935,639 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $35.93, for a total transaction of $69,547,509.27. The disclosure for this sale can be found here. Insiders sold a total of 2,173,649 shares of company stock worth $78,099,209 over the last three months. 96.10% of the stock is owned by insiders.

Large investors have recently modified their holdings of the stock. Insight Wealth Strategies LLC purchased a new position in shares of Cactus in the 4th quarter worth about $356,000. Renaissance Technologies LLC purchased a new stake in Cactus during the third quarter valued at about $7,645,000. Vanguard Group Inc. lifted its holdings in Cactus by 43.7% during the third quarter. Vanguard Group Inc. now owns 3,198,471 shares of the company’s stock valued at $122,438,000 after purchasing an additional 973,085 shares during the last quarter. Viking Fund Management LLC lifted its holdings in Cactus by 85.7% during the fourth quarter. Viking Fund Management LLC now owns 260,000 shares of the company’s stock valued at $7,127,000 after purchasing an additional 120,000 shares during the last quarter. Finally, Vanguard Group Inc lifted its holdings in Cactus by 43.7% during the third quarter. Vanguard Group Inc now owns 3,198,471 shares of the company’s stock valued at $122,438,000 after purchasing an additional 973,085 shares during the last quarter. 61.86% of the stock is currently owned by institutional investors.

About Cactus

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.

See Also: Why is insider trading harmful?

Analyst Recommendations for Cactus (NYSE:WHD)

Receive News & Ratings for Cactus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cactus and related companies with MarketBeat.com's FREE daily email newsletter.