The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil related services and equipment peer group is "buy"
Wall Street's median 12-month price target for Cactus Inc is $67.50, about 29% above its July 29 closing price of $52.32
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 16 three months ago
Drivers of the quarter
Spoolable Technologies momentum - Co said order and shipment momentum in Spoolable Technologies, including accelerated Latin America deliveries, contributed to improved sales and margin mix
Pressure Control shipments - Pressure Control results outperformed expectations, driven by improved shipments in the Middle East and higher domestic activity
Lower corporate expenses - Corporate and other expenses decreased due to lower transaction and integration expenses
Outlook and capital spending
Company expects Q3 consolidated revenue to be down slightly sequentially
Pressure Control segment Q3 revenue seen down 10% versus Q2
Spoolable Technologies segment activity expected to increase 15% to 20% in Q3
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