Wall Street Zen Upgrades Cactus (NYSE:WHD) to “Buy”

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

WHD has been the subject of several other research reports. Piper Sandler lifted their price target on Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Weiss Ratings upgraded Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Stifel Nicolaus increased their price target on Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Barclays raised their price objective on Cactus from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Finally, Citigroup boosted their price objective on Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.20.

Cactus Stock Down 0.0%

WHD stock opened at $67.87 on Friday. The firm has a market cap of $5.44 billion, a PE ratio of 58.01, a P/E/G ratio of 2.43 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. The firm’s fifty day moving average is $56.15 and its 200 day moving average is $54.82. Cactus has a one year low of $33.20 and a one year high of $68.91.

Cactus (NYSE:WHD) last released its quarterly earnings data 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. The company had revenue of $449.53 million during the quarter, compared to analysts’ expectations of $400.82 million. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The firm’s revenue for the quarter was up 64.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 earnings per share. On average, research analysts forecast that Cactus will post 3.07 EPS for the current year.

Insider Activity at Cactus

In other Cactus news, CEO Scott Bender sold 100,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $63.89, for a total transaction of $6,389,000.00. Following the completion of the transaction, the chief executive officer owned 41,519 shares of the company’s stock, valued at $2,652,648.91. This represents a 70.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joel Bender sold 86,700 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $57.62, for a total value of $4,995,654.00. Following the completion of the transaction, the president owned 41,519 shares in the company, valued at approximately $2,392,324.78. This trade represents a 67.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 260,661 shares of company stock worth $15,827,218 in the last quarter. Corporate insiders own 12.91% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. VELA Investment Management LLC lifted its stake in shares of Cactus by 24.2% in the fourth quarter. VELA Investment Management LLC now owns 146,042 shares of the company’s stock worth $6,671,000 after buying an additional 28,493 shares in the last quarter. Paradice Investment Management LLC grew its stake in Cactus by 16.1% during the 4th quarter. Paradice Investment Management LLC now owns 675,932 shares of the company’s stock valued at $30,877,000 after acquiring an additional 93,714 shares in the last quarter. UBS Group AG grew its stake in Cactus by 81.8% during the 4th quarter. UBS Group AG now owns 380,513 shares of the company’s stock valued at $17,382,000 after acquiring an additional 171,223 shares in the last quarter. Vest Financial LLC raised its holdings in Cactus by 24.7% in the 4th quarter. Vest Financial LLC now owns 134,568 shares of the company’s stock valued at $6,147,000 after acquiring an additional 26,669 shares during the last quarter. Finally, Deprince Race & Zollo Inc. acquired a new stake in Cactus in the 1st quarter valued at about $41,895,000. 85.11% of the stock is owned by institutional investors and hedge funds.

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.