Cactus Inc (NYSE:WHD) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 1,138,974 shares, a decline of 38.0% from the July 13th total of 1,836,467 shares. Based on an average daily volume of 966,148 shares, the days-to-cover ratio is presently 1.2 days. Currently, 3.0% of the shares of the company are sold short.

Several equities analysts have recently weighed in on the company. Johnson Rice assumed coverage on Cactus in a research report on Thursday, May 24th. They issued an “accumulate” rating and a $40.00 price target for the company. Barclays reiterated an “overweight” rating and issued a $36.00 price target (up from $31.00) on shares of Cactus in a research report on Thursday, May 31st. ValuEngine cut Cactus from a “buy” rating to a “hold” rating in a research report on Saturday, May 26th. Royal Bank of Canada boosted their target price on Cactus to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 31st. Finally, Piper Jaffray Companies set a $37.00 target price on Cactus and gave the stock a “buy” rating in a research report on Thursday, August 9th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Cactus presently has an average rating of “Buy” and an average target price of $35.57.

Cactus stock opened at $32.81 on Friday. Cactus has a 52 week low of $19.18 and a 52 week high of $37.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.09 and a quick ratio of 1.94. The stock has a market cap of $2.56 billion and a P/E ratio of 0.03.

Cactus (NYSE:WHD) last posted its earnings results on Thursday, August 2nd. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The business had revenue of $138.54 million for the quarter, compared to analysts’ expectations of $137.29 million. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. equities research analysts predict that Cactus will post 1.8 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of WHD. Wells Fargo & Company MN purchased a new position in Cactus during the first quarter worth about $3,938,000. Rhumbline Advisers purchased a new position in shares of Cactus in the 1st quarter worth about $571,000. Dean Capital Investments Management LLC purchased a new position in shares of Cactus in the 1st quarter worth about $532,000. Hartree Partners LP purchased a new position in shares of Cactus in the 1st quarter worth about $2,424,000. Finally, American Century Companies Inc. purchased a new position in shares of Cactus in the 1st quarter worth about $5,221,000. Institutional investors and hedge funds own 37.25% of the company’s stock.

Cactus Company Profile

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.

Further Reading: Fundamental Analysis

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