Cactus (NYSE:WHD) Rating Lowered to “Sell” at Wall Street Zen

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

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Cactus from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Stifel Nicolaus decreased their price objective on Cactus from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 1st. Finally, Barclays reissued an “overweight” rating and set a $52.00 price objective (down previously from $53.00) on shares of Cactus in a report on Monday, August 4th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $50.75.

Cactus Price Performance

Shares of NYSE:WHD opened at $39.70 on Friday. The business has a 50 day moving average price of $43.94 and a 200 day moving average price of $45.48. Cactus has a twelve month low of $33.80 and a twelve month high of $70.01. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 3.80 and a beta of 1.48. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). Cactus had a net margin of 16.19% and a return on equity of 17.34%. The business had revenue of $273.58 million for the quarter, compared to the consensus estimate of $280.28 million. During the same quarter in the previous year, the company earned $0.81 EPS. Cactus’s revenue for the quarter was down 5.8% compared to the same quarter last year. Research analysts predict that Cactus will post 3.08 earnings per share for the current year.

Institutional Trading of Cactus

Several institutional investors have recently modified their holdings of WHD. CANADA LIFE ASSURANCE Co boosted its stake in Cactus by 0.5% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock valued at $2,532,000 after buying an additional 269 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Cactus by 241.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,763 shares of the company’s stock valued at $252,000 after buying an additional 4,075 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in Cactus in the 2nd quarter valued at $204,000. Vident Advisory LLC boosted its stake in Cactus by 55.1% in the 2nd quarter. Vident Advisory LLC now owns 37,999 shares of the company’s stock valued at $1,661,000 after buying an additional 13,494 shares in the last quarter. Finally, Wasatch Advisors LP boosted its stake in Cactus by 7.5% in the 2nd quarter. Wasatch Advisors LP now owns 752,947 shares of the company’s stock valued at $32,919,000 after buying an additional 52,292 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Company Profile

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.