Cactus (NYSE:WHD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Zacks.com reports.

According to Zacks, “Cactus, Inc. designs, manufactures, sells and rents highly-engineered wellheads and pressure control equipment. Its products sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for all its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment. The company operates primarily in the Permian, SCOOP/STACK, Marcellus, Utica, Eagle Ford and Bakken. Cactus, Inc. is based in HOUSTON. “

Several other brokerages also recently weighed in on WHD. Citigroup boosted their price target on Cactus from $41.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, March 12th. Bank of America reiterated a “buy” rating and issued a $48.00 price target (up from $42.00) on shares of Cactus in a report on Tuesday, April 16th. Barclays reiterated a “buy” rating and issued a $41.00 price target on shares of Cactus in a report on Monday, May 6th. Royal Bank of Canada set a $43.00 price target on Cactus and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Raymond James set a $45.00 price target on Cactus and gave the company a “buy” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Cactus presently has an average rating of “Buy” and a consensus target price of $42.55.

WHD traded down $0.80 during trading on Friday, hitting $31.12. The company’s stock had a trading volume of 351,610 shares, compared to its average volume of 505,794. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.46 and a current ratio of 3.75. The company has a market capitalization of $2.40 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 0.61 and a beta of 1.27. Cactus has a twelve month low of $24.60 and a twelve month high of $40.97.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The company had revenue of $158.88 million during the quarter, compared to the consensus estimate of $153.04 million. Cactus had a return on equity of 35.71% and a net margin of 12.71%. As a group, equities research analysts forecast that Cactus will post 2.03 earnings per share for the current fiscal year.

In other news, VP Steven Bender sold 228,880 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $35.93, for a total transaction of $8,223,658.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joel Bender sold 1,935,639 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $35.93, for a total value of $69,547,509.27. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,173,649 shares of company stock valued at $78,099,209. Insiders own 96.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Cactus by 8.3% during the 4th quarter. FMR LLC now owns 2,072,007 shares of the company’s stock worth $56,794,000 after buying an additional 157,952 shares during the last quarter. Millennium Management LLC boosted its position in Cactus by 1.0% during the 4th quarter. Millennium Management LLC now owns 1,690,127 shares of the company’s stock worth $46,326,000 after purchasing an additional 16,863 shares during the period. Goldman Sachs Group Inc. boosted its position in Cactus by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,607,389 shares of the company’s stock worth $57,223,000 after purchasing an additional 57,108 shares during the period. TimesSquare Capital Management LLC boosted its position in Cactus by 37.2% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,079,895 shares of the company’s stock worth $38,444,000 after purchasing an additional 292,890 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in Cactus by 1.8% during the 1st quarter. Loomis Sayles & Co. L P now owns 1,052,396 shares of the company’s stock worth $37,466,000 after purchasing an additional 18,417 shares during the period. Institutional investors and hedge funds own 61.86% 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.

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