Barclays Has Lowered Expectations for Cactus (NYSE:WHD) Stock Price

Cactus (NYSE:WHD) had its price target lowered by stock analysts at Barclays from $61.00 to $54.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential upside of 15.50% from the company’s current price.

Cactus Stock Down 1.4 %

NYSE:WHD opened at $46.75 on Wednesday. Cactus has a fifty-two week low of $45.26 and a fifty-two week high of $70.01. The stock has a market capitalization of $3.72 billion, a P/E ratio of 16.58, a P/E/G ratio of 5.13 and a beta of 1.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The company’s 50-day simple moving average is $59.33 and its 200-day simple moving average is $60.84.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm had revenue of $272.12 million during the quarter, compared to the consensus estimate of $277.59 million. On average, equities analysts anticipate that Cactus will post 3.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cactus

Several hedge funds and other institutional investors have recently modified their holdings of WHD. Nisa Investment Advisors LLC raised its position in shares of Cactus by 10.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock valued at $188,000 after purchasing an additional 307 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Cactus by 1.3% in the 3rd quarter. New York State Teachers Retirement System now owns 15,500 shares of the company’s stock valued at $925,000 after purchasing an additional 200 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new position in shares of Cactus in the 3rd quarter valued at approximately $226,000. Principal Financial Group Inc. raised its position in shares of Cactus by 4.8% in the 3rd quarter. Principal Financial Group Inc. now owns 342,278 shares of the company’s stock valued at $20,424,000 after purchasing an additional 15,760 shares during the last quarter. Finally, Portside Wealth Group LLC purchased a new position in shares of Cactus in the 3rd quarter valued at approximately $243,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Company Profile

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.