Cactus (NYSE:WHD) Announces Earnings Results, Beats Expectations By $0.19 EPS

Cactus (NYSE:WHD) issued its quarterly earnings data on Wednesday. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.19, FiscalAI reports. The firm had revenue of $430.89 million during the quarter, compared to analysts’ expectations of $437.94 million. Cactus had a net margin of 6.01% and a return on equity of 16.66%.

Cactus Stock Performance

WHD stock traded down $1.20 during mid-day trading on Wednesday, reaching $64.36. 643,654 shares of the stock traded hands, compared to its average volume of 853,259. The company has a quick ratio of 1.81, a current ratio of 2.59 and a debt-to-equity ratio of 0.01. Cactus has a 52 week low of $39.16 and a 52 week high of $74.07. The business has a 50-day moving average of $66.32 and a two-hundred day moving average of $58.14. The firm has a market capitalization of $5.16 billion, a PE ratio of 55.01, a P/E/G ratio of 1.69 and a beta of 1.42.

Analysts Set New Price Targets

WHD has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a research report on Tuesday, September 8th. Citigroup lowered their price objective on Cactus from $75.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. Wall Street Zen raised Cactus from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Piper Sandler raised their price objective on Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, Barclays raised their price objective on Cactus from $74.00 to $75.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $66.60.

Insiders Place Their Bets

In related news, CEO Stephen Tadlock sold 38,455 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $63.80, for a total transaction of $2,453,429.00. Following the completion of the transaction, the chief executive officer owned 43,178 shares of the company’s stock, valued at approximately $2,754,756.40. The trade was a 47.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Steven Bender sold 25,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $67.65, for a total value of $1,691,250.00. Following the sale, the chief executive officer owned 99,241 shares of the company’s stock, valued at approximately $6,713,653.65. The trade was a 20.12% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 450,155 shares of company stock valued at $28,763,333. 12.91% of the stock is owned by company insiders.

Cactus Company Profile

Cactus, Inc (NYSE: WHD) designs, manufactures, sells and rents wellhead and pressure-control equipment used in onshore oil and gas drilling and production. Its products are designed to help operators manage pressure and control access to wells during drilling, completion and production activities.

The company’s offerings include wellhead systems, frac stacks, zipper manifolds and other pressure-control equipment. Cactus also provides field services, including equipment installation, maintenance and support, as well as rental services for selected products.