Cactus (NYSE:WHD) Stock Rating Lowered by Wall Street Zen

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

Several other research analysts have also issued reports on the company. Citigroup boosted their target price on Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Piper Sandler began coverage on Cactus in a research note on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price target for the company. Zacks Research cut Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. Finally, Barclays lifted their target price on Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cactus has a consensus rating of “Moderate Buy” and an average price target of $56.33.

Cactus Price Performance

Cactus stock opened at $45.54 on Friday. The firm has a 50-day moving average price of $53.50 and a 200-day moving average price of $46.12. The firm has a market capitalization of $3.64 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 4.45 and a beta of 1.25. The company has a current ratio of 5.81, a quick ratio of 4.13 and a debt-to-equity ratio of 0.01. Cactus has a 12-month low of $33.20 and a 12-month high of $59.25.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. Cactus had a net margin of 15.39% and a return on equity of 15.18%. The company had revenue of $261.20 million for the quarter, compared to the consensus estimate of $250.60 million. During the same period in the prior year, the firm posted $0.71 EPS. The firm’s revenue was down 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that Cactus will post 3.08 EPS for the current year.

Insider Transactions at Cactus

In other Cactus news, President Joel Bender sold 106,809 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total transaction of $5,331,905.28. Following the transaction, the president directly owned 27,793 shares in the company, valued at $1,387,426.56. This trade represents a 79.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 200,000 shares of company stock valued at $10,039,080 over the last quarter. 13.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cactus

Several hedge funds have recently made changes to their positions in WHD. Maryland State Retirement & Pension System lifted its position in shares of Cactus by 2.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 10,066 shares of the company’s stock valued at $460,000 after buying an additional 208 shares in the last quarter. Covestor Ltd increased its holdings in Cactus by 8.6% in the 4th quarter. Covestor Ltd now owns 2,758 shares of the company’s stock worth $126,000 after acquiring an additional 219 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Cactus by 67.6% during the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after acquiring an additional 259 shares during the period. CANADA LIFE ASSURANCE Co raised its position in Cactus by 0.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock worth $2,532,000 after acquiring an additional 269 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Cactus by 1.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,734 shares of the company’s stock valued at $719,000 after purchasing an additional 300 shares in the last quarter. 85.11% of the stock is currently 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.