Cactus (NYSE:WHD) Cut to “Sell” at ValuEngine

Cactus (NYSE:WHD) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

Several other equities research analysts have also issued reports on the stock. Citigroup decreased their price target on shares of Cactus from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Morgan Stanley cut their target price on shares of Cactus from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Zacks Investment Research upgraded shares of Cactus from a “strong sell” rating to a “hold” rating in a research report on Sunday, November 3rd. Wolfe Research initiated coverage on shares of Cactus in a research note on Wednesday, November 27th. They set a “market perform” rating and a $33.00 target price on the stock. Finally, Barclays reiterated a “buy” rating and set a $35.00 price target on shares of Cactus in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $38.20.

NYSE:WHD opened at $31.38 on Tuesday. Cactus has a twelve month low of $24.23 and a twelve month high of $40.68. The company has a quick ratio of 3.07, a current ratio of 4.32 and a debt-to-equity ratio of 0.05. The stock’s 50-day simple moving average is $30.00 and its 200 day simple moving average is $29.72. The firm has a market capitalization of $2.36 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 3.47 and a beta of 1.17.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, October 30th. The company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The firm had revenue of $160.81 million during the quarter, compared to the consensus estimate of $159.80 million. Cactus had a return on equity of 30.14% and a net margin of 13.45%. On average, analysts anticipate that Cactus will post 1.84 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Cactus by 3.2% during the second quarter. Vanguard Group Inc. now owns 4,214,714 shares of the company’s stock worth $139,592,000 after acquiring an additional 131,492 shares during the last quarter. BlackRock Inc. increased its position in Cactus by 13.4% during the 2nd quarter. BlackRock Inc. now owns 3,273,480 shares of the company’s stock valued at $108,417,000 after purchasing an additional 386,942 shares during the period. Jennison Associates LLC raised its holdings in Cactus by 25.4% during the 2nd quarter. Jennison Associates LLC now owns 1,304,042 shares of the company’s stock worth $43,190,000 after purchasing an additional 264,239 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Cactus by 49.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,096,136 shares of the company’s stock worth $36,305,000 after purchasing an additional 360,669 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in Cactus by 11.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 866,488 shares of the company’s stock worth $25,076,000 after purchasing an additional 88,472 shares during the last quarter. Hedge funds and other institutional investors own 65.38% of the company’s stock.

Cactus Company Profile

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.

Further Reading: How to interpret a stock’s beta number

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Cactus (NYSE:WHD)

Receive News & Ratings for Cactus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cactus and related companies with MarketBeat.com's FREE daily email newsletter.