Piper Jaffray Companies set a $37.00 target price on Cactus (NYSE:WHD) in a report released on Thursday morning. The firm currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Cactus from a buy rating to a hold rating in a research note on Tuesday, June 5th. Barclays set a $39.00 price objective on shares of Cactus and gave the company a buy rating in a research note on Sunday, August 5th. Royal Bank of Canada increased their price objective on shares of Cactus to $40.00 and gave the company an outperform rating in a research note on Tuesday, July 31st. Johnson Rice assumed coverage on shares of Cactus in a research note on Thursday, May 24th. They set an accumulate rating and a $40.00 price objective on the stock. Finally, ValuEngine downgraded shares of Cactus from a buy rating to a hold rating in a research note on Saturday, May 26th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $35.57.

Shares of NYSE WHD traded up $0.04 during midday trading on Thursday, reaching $34.20. 330,727 shares of the company’s stock traded hands, compared to its average volume of 875,976. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.94 and a current ratio of 3.09. Cactus has a one year low of $19.18 and a one year high of $37.50. The company has a market cap of $2.56 billion and a PE ratio of 0.03.

Cactus (NYSE:WHD) last released its quarterly earnings data on Thursday, August 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. The business had revenue of $138.54 million for the quarter, compared to the consensus estimate of $137.29 million. The company’s revenue was up 69.2% compared to the same quarter last year. analysts forecast that Cactus will post 1.8 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc acquired a new stake in Cactus in the first quarter valued at approximately $111,000. Royal Bank of Canada acquired a new stake in Cactus in the first quarter valued at approximately $115,000. Rhumbline Advisers boosted its stake in Cactus by 21.1% in the second quarter. Rhumbline Advisers now owns 25,690 shares of the company’s stock valued at $868,000 after acquiring an additional 4,479 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new stake in Cactus in the first quarter valued at approximately $127,000. Finally, State of Wisconsin Investment Board acquired a new stake in Cactus in the second quarter valued at approximately $237,000. Institutional investors own 37.06% of the company’s stock.

About Cactus

Cactus, Inc designs, manufactures, sells and rent a range of engineered wellheads and pressure control equipment. The company’s products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, face frame, frameless, full overlay cabinets, flush inset cabinetry and furniture. Cactus was founded in August, 2011 and is headquartered in Houston, TX.

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Analyst Recommendations for Cactus (NYSE:WHD)

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