Cactus (WHD) Stock Rating Upgraded by Zacks Investment Research

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Zacks Investment Research upgraded shares of Cactus (NYSE:WHD) from a hold rating to a buy rating in a report released on Thursday. The firm currently has $41.00 price objective on the stock.

According to Zacks, “Cactus, Inc. designs, manufactures, sells and rents highly-engineered wellheads and pressure control equipment. Its products sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for all its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment. The company operates primarily in the Permian, SCOOP/STACK, Marcellus, Utica, Eagle Ford and Bakken. Cactus, Inc. is based in HOUSTON. “

A number of other analysts also recently weighed in on the company. Raymond James started coverage on Cactus in a report on Wednesday, February 6th. They issued a strong-buy rating and a $39.00 price objective for the company. Citigroup decreased their price objective on Cactus from $42.00 to $41.00 and set a buy rating for the company in a report on Friday, January 4th. Bank of America started coverage on Cactus in a report on Monday, December 3rd. They issued a buy rating and a $36.00 price objective for the company. ValuEngine upgraded Cactus from a sell rating to a hold rating in a report on Saturday, February 2nd. Finally, Stephens started coverage on Cactus in a report on Wednesday, January 9th. They issued an overweight rating and a $45.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $40.91.

NYSE WHD traded up $0.40 on Thursday, reaching $37.69. The company had a trading volume of 4,226 shares, compared to its average volume of 297,778. The company has a market capitalization of $2.76 billion and a price-to-earnings ratio of 20.88. Cactus has a fifty-two week low of $24.60 and a fifty-two week high of $40.97. The company has a quick ratio of 2.28, a current ratio of 3.52 and a debt-to-equity ratio of 0.03.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, March 6th. The company reported $0.45 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.45. The business had revenue of $139.82 million during the quarter, compared to the consensus estimate of $146.27 million. Cactus had a return on equity of 40.80% and a net margin of 9.50%. Research analysts expect that Cactus will post 1.88 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of Cactus by 165.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 218,305 shares of the company’s stock valued at $7,377,000 after buying an additional 136,203 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Cactus during the 3rd quarter worth approximately $1,510,000. Renaissance Technologies LLC purchased a new stake in shares of Cactus during the 3rd quarter worth approximately $7,645,000. Vanguard Group Inc. increased its stake in shares of Cactus by 43.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,198,471 shares of the company’s stock worth $122,438,000 after purchasing an additional 973,085 shares during the last quarter. Finally, Viking Fund Management LLC increased its stake in shares of Cactus by 85.7% during the 4th quarter. Viking Fund Management LLC now owns 260,000 shares of the company’s stock worth $7,127,000 after purchasing an additional 120,000 shares during the last quarter. Institutional investors own 51.66% of the company’s stock.

About Cactus

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.

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