Cactus (NYSE:WHD) Rating Lowered to “Hold” at Wall Street Zen

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

A number of other research analysts also recently issued reports on WHD. Piper Sandler began coverage on Cactus in a research note on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price objective for the company. Zacks Research cut shares of Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Barclays upped 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. Citigroup raised their price target on Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Cactus has a consensus rating of “Moderate Buy” and an average target price of $56.33.

Cactus Price Performance

NYSE WHD opened at $45.54 on Friday. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 4.51 and a beta of 1.25. Cactus has a 1-year low of $33.20 and a 1-year high of $59.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.81 and a quick ratio of 4.13. The business’s fifty day moving average price is $53.50 and its 200-day moving average price is $46.19.

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

Insider Activity

In other news, President Joel Bender sold 106,809 shares of Cactus stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total value of $5,331,905.28. Following the sale, the president directly owned 27,793 shares of the company’s stock, 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 can be accessed through this hyperlink. Insiders sold 200,000 shares of company stock valued at $10,039,080 over the last quarter. Insiders own 16.84% of the company’s stock.

Institutional Trading of Cactus

A number of large investors have recently added to or reduced their stakes in WHD. Wellington Management Group LLP increased its position in Cactus by 20.0% in the fourth quarter. Wellington Management Group LLP now owns 3,963,961 shares of the company’s stock worth $181,074,000 after purchasing an additional 659,366 shares during the last quarter. State Street Corp grew its stake in shares of Cactus by 3.0% in the 4th quarter. State Street Corp now owns 2,844,994 shares of the company’s stock worth $129,959,000 after buying an additional 83,190 shares in the last quarter. Capital International Investors increased its holdings in shares of Cactus by 27.0% in the 4th quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock worth $107,062,000 after buying an additional 498,210 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Cactus by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 1,964,059 shares of the company’s stock worth $89,729,000 after buying an additional 28,415 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Cactus by 17.4% during the 4th quarter. First Trust Advisors LP now owns 1,839,336 shares of the company’s stock valued at $84,021,000 after buying an additional 272,452 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.

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.