Cactus Inc Surpasses Analyst Target: What Does It Mean for Investors?
In recent trading, shares of Cactus Inc (Symbol: WHD) have crossed above the average analyst 12-month target price of $57.83, changing hands for $59.29/share. When a stock meets the target set by an analyst, there are typically two ways to respond: either downgrade the stock based on its valuation or raise the target price. The decision may also hinge on recent developments in the company’s operations. If positive changes are apparent, analysts might consider a higher target price.
There are six different analyst targets within the Zacks coverage universe contributing to that average for Cactus Inc. However, it’s important to note that this average is just a calculation. Some analysts have lower targets, such as one predicting a price of $48.00, while another holds an optimistic target of $67.00. The standard deviation among these targets is $6.853.
The reason to examine the average price target for WHD is to leverage the collective insights of various analysts rather than relying on one individual expert. As WHD surpasses the average target price of $57.83/share, investors are prompted to reassess the company’s situation. They must decide whether this price point is a stepping stone towards an even higher target or if the valuation is now stretched too thin, suggesting it might be wise to cash in some profits. Below is a table showing the current opinions of the analysts covering Cactus Inc:
| Recent WHD Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 2 | 2 | 2 | 2 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 3 | 3 | 3 | 4 |
| Sell ratings: | 1 | 1 | 1 | 1 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 2.43 | 2.43 | 2.43 | 2.5 |
The average rating shown above ranges from 1 to 5, where 1 is Strong Buy and 5 is Strong Sell. This article utilizes data provided by Zacks Investment Research via Quandl.com. For further insights, access the latest Zacks research report on WHD — for free.
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Also see:
• Institutional Holders of WSTG
• WSHE Insider Buying
• Funds Holding CMBM
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
