Cactus (NYSE:WHD) Downgraded by Wall Street Zen to “Hold”

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

WHD has been the subject of a number of other reports. Piper Sandler began coverage on shares of Cactus in a report on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price objective for the company. Barclays boosted their target price on shares of Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a research note on Monday, December 29th. Zacks Research downgraded shares of Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Finally, Citigroup boosted 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. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.33.

Cactus Stock Performance

NYSE WHD opened at $45.54 on Friday. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 4.45 and a beta of 1.25. The company has a quick ratio of 4.13, a current ratio of 5.81 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $53.50 and a 200-day moving average price of $46.12. Cactus has a twelve month low of $33.20 and a twelve month high of $59.25.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.07. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The firm had revenue of $261.20 million during the quarter, compared to analysts’ expectations of $250.60 million. During the same quarter last year, the business posted $0.71 earnings per share. The firm’s revenue was down 4.0% on a year-over-year basis. As a group, equities research analysts predict that Cactus will post 3.08 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, President Joel Bender sold 106,809 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $49.92, for a total value of $5,331,905.28. Following the sale, the president owned 27,793 shares in the company, valued at approximately $1,387,426.56. The trade was a 79.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 200,000 shares of company stock valued at $10,039,080 in the last quarter. Insiders own 13.75% of the company’s stock.

Hedge Funds Weigh In On Cactus

A number of institutional investors and hedge funds have recently made changes to their positions in WHD. Vest Financial LLC increased its stake in Cactus by 35.3% during the third quarter. Vest Financial LLC now owns 107,899 shares of the company’s stock worth $4,259,000 after acquiring an additional 28,139 shares during the last quarter. Hudson Edge Investment Partners Inc. lifted its stake in shares of Cactus by 249.2% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 28,388 shares of the company’s stock valued at $1,120,000 after purchasing an additional 20,258 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Cactus in the 3rd quarter valued at approximately $1,872,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Cactus in the 3rd quarter worth approximately $525,000. Finally, Schroder Investment Management Group boosted its holdings in shares of Cactus by 26.3% in the 2nd quarter. Schroder Investment Management Group now owns 669,241 shares of the company’s stock worth $29,259,000 after purchasing an additional 139,155 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

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