Cactus (NYSE:WHD) Raised to “Buy” at Wall Street Zen

Cactus (NYSE:WHD) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other research analysts also recently issued reports on the company. Zacks Research downgraded Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Barclays raised their target price on shares of Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Citigroup lifted their price target on shares of Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. Finally, Piper Sandler initiated coverage on shares of Cactus in a research report on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Cactus currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.33.

Cactus Price Performance

NYSE WHD opened at $50.01 on Friday. The business’s fifty day moving average is $53.76 and its 200 day moving average is $45.70. Cactus has a fifty-two week low of $33.20 and a fifty-two week high of $59.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.13 and a current ratio of 5.81. The company has a market capitalization of $3.99 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 4.98 and a beta of 1.25.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The business had revenue of $261.20 million during the quarter, compared to analysts’ expectations of $250.60 million. During the same quarter in the prior year, the business posted $0.71 earnings per share. The business’s quarterly revenue was down 4.0% on a year-over-year basis. Sell-side analysts predict that Cactus will post 3.08 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in Cactus by 20.0% during the 4th quarter. Wellington Management Group LLP now owns 3,963,961 shares of the company’s stock valued at $181,074,000 after buying an additional 659,366 shares in the last quarter. State Street Corp lifted its holdings in shares of Cactus by 3.0% in the fourth quarter. State Street Corp now owns 2,844,994 shares of the company’s stock worth $129,959,000 after buying an additional 83,190 shares in the last quarter. Capital International Investors lifted its holdings in shares of Cactus by 27.0% in the fourth quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock worth $107,062,000 after buying an additional 498,210 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Cactus by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 1,964,059 shares of the company’s stock worth $89,729,000 after acquiring an additional 28,415 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in Cactus by 17.4% during the fourth quarter. First Trust Advisors LP now owns 1,839,336 shares of the company’s stock valued at $84,021,000 after acquiring an additional 272,452 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors.

About Cactus

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.