Cactus (NYSE:WHD) issued its quarterly earnings results on Wednesday. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03, Briefing.com reports. The firm had revenue of $150.70 million during the quarter, compared to the consensus estimate of $146.35 million. The business’s revenue for the quarter was up 57.0% compared to the same quarter last year.
Shares of NYSE:WHD traded up $1.61 during midday trading on Thursday, reaching $35.07. The company had a trading volume of 1,461,419 shares, compared to its average volume of 536,796. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.94 and a current ratio of 3.09. The company has a market cap of $2.51 billion and a P/E ratio of 0.03. Cactus has a 1-year low of $19.18 and a 1-year high of $40.97.
A number of analysts recently issued reports on WHD shares. Royal Bank of Canada lifted their target price on Cactus to $40.00 and gave the company an “outperform” rating in a research report on Tuesday, July 31st. Barclays set a $39.00 target price on Cactus and gave the company a “buy” rating in a research report on Sunday, August 5th. Piper Jaffray Companies set a $37.00 target price on Cactus and gave the company a “buy” rating in a research report on Thursday, August 9th. Johnson Rice raised Cactus from an “accumulate” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Thursday, August 30th. Finally, Citigroup lifted their target price on Cactus from $38.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, September 14th. One analyst has rated the stock with a sell rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Cactus has an average rating of “Buy” and a consensus price target of $38.70.
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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