Cactus (NYSE:WHD) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Cactus from “hold” to “buy.” The stock has a consensus “Moderate Buy” rating, with four analysts rating it Buy and three rating it Hold.
• Cactus reported quarterly results above expectations, posting $0.93 in EPS versus the $0.64 estimate and revenue of $449.53 million, up 64.3% year over year.
• Cactus shares opened at $67.87, near their 52-week high of $68.91. However, company insiders sold 260,661 shares worth $15.8 million over the past 90 days.

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 note issued to investors on Saturday.

Other equities analysts have also issued reports about the company. Piper Sandler increased their price objective on Cactus from $72.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Weiss Ratings upgraded Cactus from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, June 11th. Barclays upped their price target on Cactus from $70.00 to $74.00 and gave the company an "overweight" rating in a research report on Monday. Citigroup increased their price target on Cactus from $65.00 to $67.00 and gave the stock a "buy" rating in a research note on Thursday, June 18th. Finally, Stifel Nicolaus lifted their price objective on Cactus from $68.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Cactus presently has a consensus rating of "Moderate Buy" and an average price target of $65.20.

Cactus Stock Performance

NYSE WHD opened at $67.87 on Friday. The company has a market capitalization of $5.44 billion, a PE ratio of 58.01, a price-to-earnings-growth ratio of 2.46 and a beta of 1.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.59. Cactus has a 52-week low of $33.20 and a 52-week high of $68.91. The company has a 50-day simple moving average of $56.15 and a 200 day simple moving average of $54.81.

Cactus (NYSE:WHD - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.29. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The firm had revenue of $449.53 million for the quarter, compared to analysts' expectations of $400.82 million. During the same period in the previous year, the company earned $0.66 earnings per share. The company's quarterly revenue was up 64.3% on a year-over-year basis. On average, research analysts predict that Cactus will post 3.07 EPS for the current year.

Insider Buying and Selling

In related news, Director Alan Semple sold 10,206 shares of Cactus stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total value of $577,863.72. Following the completion of the transaction, the director directly owned 29,444 shares in the company, valued at approximately $1,667,119.28. The trade was a 25.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Y. Mcgovern sold 12,000 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total transaction of $678,840.00. Following the sale, the director directly owned 15,990 shares in the company, valued at $904,554.30. The trade was a 42.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 260,661 shares of company stock worth $15,827,218 in the last 90 days. 12.91% of the stock is currently owned by company insiders.

Institutional Trading of Cactus

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Maryland State Retirement & Pension System lifted its holdings in Cactus by 2.1% in the 4th quarter. Maryland State Retirement & Pension System now owns 10,066 shares of the company's stock worth $460,000 after purchasing an additional 208 shares in the last quarter. Covestor Ltd grew its holdings in Cactus by 8.6% during the 4th quarter. Covestor Ltd now owns 2,758 shares of the company's stock valued at $126,000 after buying an additional 219 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in shares of Cactus by 0.5% during the second 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 during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Cactus by 1.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,734 shares of the company's stock worth $719,000 after buying an additional 300 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Cactus by 0.5% in the second quarter. California State Teachers Retirement System now owns 66,538 shares of the company's stock worth $2,909,000 after buying an additional 306 shares in the last quarter. 85.11% of the stock is currently 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.

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