Cactus (NYSE:WHD) Rating Lowered to Accumulate at Johnson Rice

Cactus (NYSE:WHDGet Free Report) was downgraded by analysts at Johnson Rice from a “buy” rating to an “accumulate” rating in a research note issued on Friday, MarketBeat.com reports.

Other equities analysts have also issued reports about the stock. Barclays increased their price objective on shares of Cactus from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Bank of America upped their price target on shares of Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a research note on Monday, April 15th. Finally, Benchmark restated a “hold” rating on shares of Cactus in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $55.14.

View Our Latest Analysis on Cactus

Cactus Price Performance

Shares of WHD opened at $51.35 on Friday. The firm has a market capitalization of $4.09 billion, a PE ratio of 20.46, a PEG ratio of 1.58 and a beta of 1.95. The company’s 50-day moving average is $50.86 and its 200-day moving average is $46.15. Cactus has a fifty-two week low of $31.36 and a fifty-two week high of $57.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.24 and a quick ratio of 2.17.

Cactus (NYSE:WHDGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $274.12 million for the quarter, compared to analyst estimates of $270.70 million. Cactus had a net margin of 14.46% and a return on equity of 22.46%. The company’s revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 earnings per share. Equities analysts forecast that Cactus will post 2.94 EPS for the current year.

Insider Transactions at Cactus

In other news, President Joel Bender sold 201,585 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $52.03, for a total value of $10,488,467.55. Following the completion of the transaction, the president now owns 555,001 shares of the company’s stock, valued at $28,876,702.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Scott Bender sold 39,957 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $51.01, for a total value of $2,038,206.57. Following the completion of the transaction, the chief executive officer now owns 400,234 shares in the company, valued at approximately $20,415,936.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Joel Bender sold 201,585 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.03, for a total transaction of $10,488,467.55. Following the completion of the transaction, the president now owns 555,001 shares of the company’s stock, valued at approximately $28,876,702.03. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 681,759 shares of company stock valued at $34,599,109. 17.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WHD. Principal Securities Inc. bought a new position in Cactus during the 4th quarter worth approximately $30,000. GAMMA Investing LLC acquired a new stake in shares of Cactus during the 4th quarter worth approximately $33,000. NBC Securities Inc. acquired a new stake in shares of Cactus during the 3rd quarter worth approximately $36,000. Signaturefd LLC grew its position in shares of Cactus by 164.5% during the 3rd quarter. Signaturefd LLC now owns 857 shares of the company’s stock worth $43,000 after buying an additional 533 shares during the period. Finally, TFO Wealth Partners LLC grew its position in shares of Cactus by 221,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,214 shares of the company’s stock worth $101,000 after buying an additional 2,213 shares during the period. Institutional investors own 85.11% of the company’s stock.

About Cactus

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Cactus (NYSE:WHD)

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