Stifel Nicolaus Upgrades Cactus (NYSE:WHD) to Buy

Cactus (NYSE:WHD) was upgraded by equities researchers at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report released on Friday, Marketbeat Ratings reports. The firm presently has a $28.00 target price on the stock, up from their previous target price of $20.00. Stifel Nicolaus’ price target suggests a potential upside of 23.78% from the stock’s previous close.

WHD has been the topic of several other research reports. Morgan Stanley raised their target price on Cactus from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Bank of America upgraded shares of Cactus from an “underperform” rating to a “neutral” rating and set a $21.00 price objective for the company in a research report on Thursday, May 28th. Stephens increased their target price on shares of Cactus from $17.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Citigroup lifted their price target on shares of Cactus from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 5th. Finally, Barclays downgraded shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective for the company. in a research note on Thursday, May 14th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $21.82.

Shares of WHD opened at $22.62 on Friday. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 17.40 and a beta of 2.49. The firm’s fifty day simple moving average is $20.51 and its 200-day simple moving average is $20.72. Cactus has a twelve month low of $8.16 and a twelve month high of $35.28. The company has a current ratio of 5.35, a quick ratio of 4.11 and a debt-to-equity ratio of 0.04.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, July 29th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.01 by $0.09. The firm had revenue of $66.55 million for the quarter, compared to analyst estimates of $60.29 million. Cactus had a return on equity of 14.47% and a net margin of 11.96%. Cactus’s revenue for the quarter was down 60.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share. On average, analysts predict that Cactus will post 0.32 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of WHD. Arosa Capital Management LP raised its holdings in shares of Cactus by 78.1% in the first quarter. Arosa Capital Management LP now owns 1,005,990 shares of the company’s stock valued at $11,669,000 after buying an additional 441,293 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Cactus by 402.3% during the 1st quarter. JPMorgan Chase & Co. now owns 292,147 shares of the company’s stock valued at $3,389,000 after acquiring an additional 233,984 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in Cactus by 59.3% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 597,272 shares of the company’s stock worth $6,928,000 after acquiring an additional 222,300 shares during the period. FDx Advisors Inc. purchased a new position in shares of Cactus in the 1st quarter valued at approximately $551,000. Finally, Makaira Partners LLC acquired a new position in shares of Cactus in the first quarter valued at approximately $1,740,000. Institutional investors own 63.90% 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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