Several other research analysts also recently issued reports on WHD. Raymond James cut their price target on Cactus from $42.00 to $40.00 and set a strong-buy rating for the company in a research note on Friday, August 2nd. Citigroup cut their price target on Cactus from $38.00 to $37.00 and set a buy rating for the company in a research note on Monday, September 23rd. Piper Jaffray Companies cut their price target on Cactus from $42.00 to $34.00 and set an overweight rating for the company in a research note on Tuesday, June 18th. Zacks Investment Research downgraded Cactus from a strong-buy rating to a hold rating in a research note on Saturday, June 15th. Finally, Bank of America reaffirmed a buy rating and set a $39.00 price target (down previously from $50.00) on shares of Cactus in a research note on Tuesday, June 25th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $40.00.
Cactus stock traded down $0.62 during midday trading on Wednesday, reaching $28.01. The company’s stock had a trading volume of 298,724 shares, compared to its average volume of 536,294. Cactus has a fifty-two week low of $24.23 and a fifty-two week high of $40.97. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.74 and a current ratio of 3.92. The stock’s 50 day simple moving average is $27.67 and its 200 day simple moving average is $32.00. The firm has a market capitalization of $2.10 billion, a PE ratio of 15.74, a P/E/G ratio of 2.54 and a beta of 1.19.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Cactus by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 4,214,714 shares of the company’s stock worth $139,592,000 after buying an additional 131,492 shares during the last quarter. BlackRock Inc. increased its position in Cactus by 13.4% during the 2nd quarter. BlackRock Inc. now owns 3,273,480 shares of the company’s stock worth $108,417,000 after purchasing an additional 386,942 shares in the last quarter. Jennison Associates LLC increased its position in Cactus by 25.4% during the 2nd quarter. Jennison Associates LLC now owns 1,304,042 shares of the company’s stock worth $43,190,000 after purchasing an additional 264,239 shares in the last quarter. Bank of New York Mellon Corp increased its position in Cactus by 49.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,096,136 shares of the company’s stock worth $36,305,000 after purchasing an additional 360,669 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in Cactus by 48.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 778,016 shares of the company’s stock worth $25,768,000 after purchasing an additional 255,100 shares in the last quarter. 64.30% of the stock is owned by institutional investors and hedge funds.
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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