Citigroup Increases Cactus (NYSE:WHD) Price Target to $52.00

Cactus (NYSE:WHD) had its price objective increased by equities research analysts at Citigroup from $48.00 to $52.00 in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential downside of 3.83% from the company’s previous close.

WHD has been the topic of several other research reports. Bank of America boosted their price target on Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a research note on Monday, April 15th. Benchmark reissued a “hold” rating on shares of Cactus in a report on Monday, May 6th. Johnson Rice lowered Cactus from a “buy” rating to an “accumulate” rating in a report on Friday, May 31st. Finally, Barclays boosted their price objective on Cactus from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.14.

Cactus Trading Up 3.1 %

NYSE:WHD opened at $54.07 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.24. Cactus has a one year low of $37.58 and a one year high of $57.00. The business’s 50-day simple moving average is $51.07 and its 200 day simple moving average is $47.85. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 1.61 and a beta of 1.98.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Cactus had a return on equity of 22.46% and a net margin of 14.46%. The business had revenue of $274.12 million for the quarter, compared to analysts’ expectations of $270.70 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s revenue was up 20.0% compared to the same quarter last year. As a group, sell-side analysts predict that Cactus will post 2.94 earnings per share for the current fiscal year.

Insider Activity

In related news, President Joel Bender sold 201,585 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $52.03, for a total value of $10,488,467.55. Following the sale, the president now owns 555,001 shares of the company’s stock, valued at approximately $28,876,702.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, President Joel Bender sold 201,585 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $52.03, for a total value of $10,488,467.55. Following the sale, the president now owns 555,001 shares of the company’s stock, valued at approximately $28,876,702.03. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Bender sold 39,957 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $51.01, for a total transaction of $2,038,206.57. Following the completion of the sale, the chief executive officer now directly owns 400,234 shares in the company, valued at approximately $20,415,936.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 602,059 shares of company stock valued at $30,948,949. 16.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cactus

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Cactus by 33.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock valued at $71,000 after buying an additional 340 shares during the period. Grandeur Peak Global Advisors LLC increased its stake in Cactus by 10.7% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 138,297 shares of the company’s stock valued at $6,927,000 after buying an additional 13,338 shares during the period. Bayesian Capital Management LP acquired a new position in Cactus during the 1st quarter valued at about $270,000. Silvercrest Asset Management Group LLC increased its stake in Cactus by 4.5% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 203,153 shares of the company’s stock valued at $10,176,000 after buying an additional 8,833 shares during the period. Finally, Energy Income Partners LLC increased its stake in Cactus by 28.5% during the 1st quarter. Energy Income Partners LLC now owns 55,015 shares of the company’s stock valued at $2,756,000 after buying an additional 12,200 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

About Cactus

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers.