Piper Sandler Upgrades Cactus (NYSE:WHD) to “Strong-Buy”

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

Several other brokerages have also recently commented on WHD. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. Zacks Research cut shares of Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Citigroup raised shares of Cactus from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $45.00 to $55.00 in a report on Thursday, December 11th. Stifel Nicolaus increased their price target on Cactus from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Barclays raised their price target on Cactus from $51.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Cactus Price Performance

Shares of WHD stock opened at $58.25 on Tuesday. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 5.79 and a beta of 1.27. Cactus has a 12 month low of $33.20 and a 12 month high of $59.48. The company has a quick ratio of 3.74, a current ratio of 5.28 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $52.71 and a 200 day moving average price of $45.07.

Hedge Funds Weigh In On Cactus

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Salomon & Ludwin LLC bought a new stake in shares of Cactus in the 3rd quarter valued at $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of Cactus by 67.6% in the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after acquiring an additional 259 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Cactus in the third quarter worth about $33,000. Aster Capital Management DIFC Ltd raised its position in shares of Cactus by 73.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock worth $34,000 after purchasing an additional 314 shares during the period. Finally, Huntington National Bank lifted its holdings in shares of Cactus by 55.4% during the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock valued at $43,000 after purchasing an additional 390 shares in the last quarter. 85.11% of the stock is 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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.