Cactus (NYSE:WHD) Rating Increased to Strong-Buy at Piper Sandler

Cactus (NYSE:WHD) was upgraded by stock analysts at Piper Sandler to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

WHD has been the subject of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a research note on Monday, December 29th. Bank of America raised shares of Cactus from an “underperform” rating to a “neutral” rating and upped their target price for the company from $39.00 to $40.00 in a research note on Wednesday, October 29th. Barclays increased their price target on shares of Cactus from $51.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. Zacks Research downgraded Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Finally, Citigroup upgraded Cactus from a “neutral” rating to a “buy” rating and upped their price objective for the company from $45.00 to $55.00 in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Cactus Price Performance

Shares of NYSE:WHD opened at $58.25 on Tuesday. The firm has a market capitalization of $4.65 billion, a PE ratio of 23.21, a PEG ratio of 5.79 and a beta of 1.27. The company has a current ratio of 5.28, a quick ratio of 3.74 and a debt-to-equity ratio of 0.01. Cactus has a 1-year low of $33.20 and a 1-year high of $59.48. The business’s 50 day moving average is $52.71 and its 200-day moving average is $45.07.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC acquired a new stake in Cactus in the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its position in shares of Cactus by 67.6% during the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after purchasing an additional 259 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Cactus during the third quarter valued at approximately $33,000. Aster Capital Management DIFC Ltd increased its holdings in shares of Cactus by 73.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after purchasing an additional 314 shares in the last quarter. Finally, Huntington National Bank raised its position in Cactus by 55.4% in the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock worth $43,000 after purchasing an additional 390 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Company Profile

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.