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

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 on Saturday.

A number of other research firms have also weighed in on WHD. Barclays upped 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 stock a “buy” rating in a research note on Tuesday, March 3rd. Piper Sandler assumed coverage on shares of Cactus in a report on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a report on Monday, December 29th. Finally, Zacks Research downgraded shares of Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.33.

Cactus Trading Down 1.3%

WHD opened at $50.01 on Friday. The business has a fifty day moving average price of $53.76 and a 200 day moving average price of $45.79. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.81 and a quick ratio of 4.13. Cactus has a 12 month low of $33.20 and a 12 month high of $59.25. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 4.91 and a beta of 1.25.

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

Hedge Funds Weigh In On Cactus

Several hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC purchased a new stake in shares of Cactus during the 3rd quarter worth approximately $25,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Cactus by 67.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $25,000 after buying an additional 259 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Cactus in the 3rd quarter valued at $33,000. Aster Capital Management DIFC Ltd grew its position in shares of Cactus by 73.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after buying an additional 314 shares during the last quarter. Finally, Huntington National Bank raised its stake in Cactus by 55.4% during the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock worth $43,000 after acquiring an additional 390 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other 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.