Cactus (NYSE:WHD) Rating Lowered to Equal Weight at Barclays

Cactus (NYSE:WHD) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $61.00 target price on the stock. Barclays‘s price target would suggest a potential downside of 1.88% from the stock’s current price.

A number of other research firms have also weighed in on WHD. Citigroup raised their target price on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Bank of America raised their price objective on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research note on Monday, October 14th. Piper Sandler cut their price target on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, Stifel Nicolaus reduced their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cactus has a consensus rating of “Hold” and a consensus target price of $56.40.

Cactus Stock Up 1.3 %

WHD stock opened at $62.17 on Monday. The stock’s 50 day simple moving average is $59.80 and its 200 day simple moving average is $56.08. The company has a market cap of $4.95 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 2.90 and a beta of 1.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. Cactus has a fifty-two week low of $37.58 and a fifty-two week high of $64.96.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The company had revenue of $293.18 million for the quarter, compared to analysts’ expectations of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. Cactus’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.80 EPS. On average, research analysts expect that Cactus will post 3.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Cactus

In other Cactus news, CEO Stephen Tadlock sold 33,500 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $61.35, for a total value of $2,055,225.00. Following the sale, the chief executive officer now directly owns 36,357 shares in the company, valued at $2,230,501.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 16.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cactus

Several large investors have recently modified their holdings of the business. Bessemer Group Inc. lifted its stake in shares of Cactus by 7.2% during the 1st quarter. Bessemer Group Inc. now owns 248,369 shares of the company’s stock valued at $12,441,000 after buying an additional 16,662 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in shares of Cactus by 4.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 203,153 shares of the company’s stock worth $10,176,000 after acquiring an additional 8,833 shares during the period. Sei Investments Co. grew its position in shares of Cactus by 13.2% in the first quarter. Sei Investments Co. now owns 345,228 shares of the company’s stock valued at $17,291,000 after purchasing an additional 40,228 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Cactus during the 1st quarter valued at $1,423,000. Finally, Vanguard Group Inc. lifted its holdings in Cactus by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company’s stock worth $329,182,000 after purchasing an additional 53,142 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

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.