Cactus (WHD) Sets New 52-Week High and Low Following Analyst Upgrade

Cactus (NYSE:WHD)’s share price reached a new 52-week high and low during trading on Wednesday after Barclays raised their price target on the stock from $31.00 to $36.00. Barclays currently has an overweight rating on the stock. Cactus traded as low as $36.39 and last traded at $35.71, with a volume of 7355 shares. The stock had previously closed at $34.73.

Several other equities analysts have also issued reports on the company. Royal Bank of Canada started coverage on Cactus in a research note on Friday, April 6th. They issued an “outperform” rating and a $32.00 price target on the stock. JPMorgan Chase started coverage on Cactus in a research note on Monday, March 5th. They issued an “overweight” rating and a $32.00 price target on the stock. Howard Weil started coverage on Cactus in a research note on Monday, March 5th. They issued a “sector outperform” rating on the stock. Piper Jaffray started coverage on Cactus in a research note on Monday, March 5th. They issued an “overweight” rating on the stock. Finally, ValuEngine raised Cactus from a “hold” rating to a “buy” rating in a research note on Wednesday, April 11th. Ten research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $32.20.

Large investors have recently modified their holdings of the company. Hartree Partners LP acquired a new position in shares of Cactus during the first quarter worth approximately $2,424,000. Dean Capital Investments Management LLC acquired a new position in shares of Cactus during the first quarter worth approximately $532,000. Boston Partners acquired a new position in shares of Cactus during the first quarter worth approximately $33,253,000. Zimmer Partners LP acquired a new position in shares of Cactus during the first quarter worth approximately $27,469,000. Finally, American International Group Inc. acquired a new position in shares of Cactus during the first quarter worth approximately $400,000. 4.72% of the stock is currently owned by institutional investors.

The company has a quick ratio of 1.88, a current ratio of 2.86 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.57 billion and a price-to-earnings ratio of 0.03.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, May 9th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $115.11 million for the quarter, compared to analyst estimates of $110.14 million. equities research analysts predict that Cactus will post 1.53 EPS for the current fiscal year.

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.

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