Cactus (NYSE:WHD) Posts Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Cactus (NYSE:WHD) issued its quarterly earnings data on Wednesday. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.19, FiscalAI reports. Cactus had a return on equity of 16.66% and a net margin of 6.01%. The business had revenue of $430.89 million during the quarter, compared to analyst estimates of $437.94 million.

Cactus Stock Down 1.8%

Shares of WHD stock traded down $1.20 on Wednesday, reaching $64.36. 643,412 shares of the company’s stock traded hands, compared to its average volume of 853,258. The company has a market capitalization of $5.16 billion, a P/E ratio of 55.01, a price-to-earnings-growth ratio of 1.69 and a beta of 1.42. Cactus has a 12-month low of $39.16 and a 12-month high of $74.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.59. The business’s 50 day moving average price is $66.32 and its two-hundred day moving average price is $58.14.

Insider Activity at Cactus

In related news, CEO Stephen Tadlock sold 38,455 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $63.80, for a total transaction of $2,453,429.00. Following the completion of the sale, the chief executive officer directly owned 43,178 shares in the company, valued at approximately $2,754,756.40. This trade represents a 47.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joel Bender sold 100,000 shares of Cactus stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $70.37, for a total value of $7,037,000.00. Following the sale, the president owned 41,519 shares of the company’s stock, valued at approximately $2,921,692.03. This represents a 70.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 450,155 shares of company stock valued at $28,763,333. 12.91% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of Cactus from $75.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. Piper Sandler increased their target price on shares of Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of Cactus from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Stifel Nicolaus lifted their price target on shares of Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Barclays upped their price target on Cactus from $74.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Cactus has a consensus rating of “Hold” and a consensus price target of $66.60.

Cactus Company Profile

Cactus, Inc (NYSE: WHD) designs, manufactures, sells and rents wellhead and pressure-control equipment used in onshore oil and gas drilling and production. Its products are designed to help operators manage pressure and control access to wells during drilling, completion and production activities.

The company’s offerings include wellhead systems, frac stacks, zipper manifolds and other pressure-control equipment. Cactus also provides field services, including equipment installation, maintenance and support, as well as rental services for selected products.