Cactus (NYSE:WHD) Lowered to “Equal Weight” Rating by Barclays

Cactus (NYSE:WHD) was downgraded by Barclays from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday, MarketBeat reports. They presently have a $61.00 target price on the stock. Barclays‘s price objective indicates a potential downside of 1.88% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Bank of America boosted their price target on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research note on Monday, October 14th. Stifel Nicolaus cut their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Citigroup raised their price target on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler cut their price objective on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Cactus currently has an average rating of “Hold” and a consensus target price of $56.40.

Cactus Trading Up 1.3 %

Shares of WHD stock opened at $62.17 on Monday. The company has a market capitalization of $4.95 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 2.90 and a beta of 1.95. Cactus has a 52-week low of $37.58 and a 52-week high of $64.96. The business’s fifty day moving average is $59.80 and its 200 day moving average is $56.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.04. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The firm had revenue of $293.18 million for the quarter, compared to analysts’ expectations of $287.47 million. During the same quarter last year, the firm posted $0.80 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Cactus will post 3.04 EPS for the current fiscal year.

Insider Transactions at Cactus

In other news, CEO Stephen Tadlock sold 33,500 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $61.35, for a total value of $2,055,225.00. Following the completion of the sale, the chief executive officer now owns 36,357 shares of the company’s stock, valued at approximately $2,230,501.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 16.84% of the company’s stock.

Institutional Investors Weigh In On Cactus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Cactus by 33.8% in the second quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock valued at $71,000 after acquiring an additional 340 shares during the period. SG Americas Securities LLC bought a new position in Cactus during the 1st quarter valued at approximately $115,000. Covestor Ltd lifted its holdings in Cactus by 251.8% in the 1st quarter. Covestor Ltd now owns 2,508 shares of the company’s stock worth $126,000 after buying an additional 1,795 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Cactus in the 1st quarter worth approximately $182,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Cactus by 10.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock worth $188,000 after buying an additional 307 shares during the last quarter. 85.11% of the stock is currently owned by 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.