Cactus (NYSE:WHD) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded Cactus (NYSE:WHD) from a "hold" to a buy, while firms including Barclays, Citigroup and Piper Sandler have raised ratings or price targets, leaving a MarketBeat consensus of "Moderate Buy" with a $56.33 target.
• Cactus beat quarterly estimates with EPS of $0.65 (vs. $0.58 expected) and revenue of $261.2M (vs. $250.6M expected), though revenue was down 4% year-over-year; the stock opened at $50.01 and has a $3.99B market cap and a P/E of 20.84.
• Institutional ownership is high—hedge funds and other institutions own about 85.11% of the shares—and the stock has traded between $33.20 and $59.25 over the past year, indicating notable volatility.

Cactus (NYSE:WHD - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

A number of other research firms have also weighed in on WHD. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cactus in a research report on Monday, December 29th. Barclays raised their price target on Cactus from $56.00 to $62.00 and gave the company an "overweight" rating in a report on Monday, March 2nd. Zacks Research lowered Cactus from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 26th. Citigroup upped 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. Finally, Piper Sandler assumed coverage on shares of Cactus in a research report on Tuesday, February 24th. They set an "overweight" rating and a $73.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $56.33.

Cactus Trading Down 1.3%

Shares of NYSE WHD opened at $50.01 on Friday. Cactus has a 1 year low of $33.20 and a 1 year high of $59.25. The stock has a market cap of $3.99 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 4.98 and a beta of 1.25. The firm has a 50-day moving average of $53.76 and a 200 day moving average of $45.70. 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 (NYSE:WHD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.07. Cactus had a net margin of 15.39% and a return on equity of 15.18%. The business had revenue of $261.20 million for the quarter, compared to analysts' expectations of $250.60 million. During the same quarter in the prior year, the company earned $0.71 earnings per share. The business's revenue was down 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that Cactus will post 3.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Cactus

Hedge funds have recently bought and sold shares of the business. Vest Financial LLC increased its position in shares of Cactus by 35.3% during the 3rd quarter. Vest Financial LLC now owns 107,899 shares of the company's stock valued at $4,259,000 after purchasing an additional 28,139 shares during the last quarter. Hudson Edge Investment Partners Inc. grew its position in Cactus by 249.2% during the third quarter. Hudson Edge Investment Partners Inc. now owns 28,388 shares of the company's stock valued at $1,120,000 after buying an additional 20,258 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Cactus during the third quarter valued at approximately $1,872,000. AGF Management Ltd. purchased a new stake in Cactus during the second quarter valued at approximately $672,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in Cactus in the third quarter worth approximately $525,000. Hedge funds and other institutional investors 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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.

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