Cactus to Acquire Baker Hughes Surface Business

Cactus ( (WHD) ) has provided an update.

Cactus, Inc. announced its participation in upcoming investor meetings, where it will present materials related to its operations and financial performance. The company recently completed a merger with FlexSteel business on February 28, 2023, and has entered into an agreement to acquire Baker Hughes Company’s surface pressure control business. These strategic moves are expected to strengthen Cactus’s market position and operational capabilities, potentially impacting stakeholders positively by enhancing its product offerings and market reach.

The most recent analyst rating on (WHD) stock is a Hold with a $61.00 price target. To see the full list of analyst forecasts on Cactus stock, see the WHD Stock Forecast page.

Spark’s Take on WHD Stock

According to Spark, TipRanks’ AI Analyst, WHD is a Outperform.

Cactus demonstrates strong financial performance, supported by recent strategic acquisitions and a solid cash position. While technical indicators suggest caution, and there are margin challenges, the company’s efforts to expand internationally and acquire strategic assets provide a positive outlook.

To see Spark’s full report on WHD stock, click here.

More about Cactus

Cactus, Inc. operates in the oil and gas industry, focusing on the design, manufacturing, and rental of highly engineered products that enhance drilling, completion, and production efficiencies while improving safety. The company’s primary products include wellhead systems, production trees, spoolable pipe, frac stacks, and completion equipment, with a strong market presence in onshore equipment solutions.

Average Trading Volume: 900,255

Technical Sentiment Signal: Sell

Current Market Cap: $3.31B

See more data about WHD stock on TipRanks’ Stock Analysis page.