Cactus (NYSE:WHD) Upgraded at Zacks Research

Zacks Research upgraded shares of Cactus (NYSE:WHD) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Other equities analysts have also issued reports about the company. Bank of America upgraded Cactus from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $39.00 to $40.00 in a research note on Wednesday, October 29th. Barclays lifted their price target on Cactus from $51.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a research report on Monday. Citigroup raised shares of Cactus from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $45.00 to $55.00 in a research report on Thursday, December 11th. Finally, Stifel Nicolaus raised their price target on shares of Cactus from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.20.

Cactus Trading Down 0.7%

Shares of WHD stock opened at $45.70 on Tuesday. Cactus has a 12 month low of $33.20 and a 12 month high of $65.35. The company has a market cap of $3.65 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 4.93 and a beta of 1.26. The company has a quick ratio of 3.74, a current ratio of 5.28 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $43.67 and its two-hundred day moving average is $42.22.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.09. Cactus had a net margin of 15.86% and a return on equity of 16.02%. The business had revenue of $263.95 million during the quarter, compared to analysts’ expectations of $253.89 million. During the same period in the previous year, the company earned $0.74 earnings per share. Cactus’s revenue for the quarter was down 10.0% on a year-over-year basis. Equities analysts predict that Cactus will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Monday, December 1st were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, December 1st. Cactus’s payout ratio is 22.31%.

Hedge Funds Weigh In On Cactus

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC grew its stake in shares of Cactus by 482.7% in the 1st quarter. Jane Street Group LLC now owns 238,879 shares of the company’s stock valued at $10,948,000 after purchasing an additional 197,887 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in Cactus by 230.4% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 18,800 shares of the company’s stock valued at $862,000 after buying an additional 13,110 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Cactus in the 1st quarter valued at $598,000. VELA Investment Management LLC grew its position in Cactus by 79.6% in the second quarter. VELA Investment Management LLC now owns 115,440 shares of the company’s stock valued at $5,047,000 after acquiring an additional 51,158 shares during the period. Finally, AGF Management Ltd. acquired a new position in Cactus during the second quarter worth $672,000. 85.11% of the stock is owned by institutional investors.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.