Cactus (NYSE:WHD) Releases Earnings Results, Hits Estimates

Cactus (NYSE:WHD) released its quarterly earnings results on Wednesday. The company reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74, Briefing.com reports. The business had revenue of $293.18 million during the quarter, compared to analysts’ expectations of $287.47 million. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS.

Cactus Stock Up 0.4 %

WHD stock traded up $0.20 during mid-day trading on Wednesday, reaching $57.29. The company had a trading volume of 645,437 shares, compared to its average volume of 734,561. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.59 and a current ratio of 3.75. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 2.79 and a beta of 1.95. The firm has a fifty day simple moving average of $59.74 and a 200 day simple moving average of $55.72. Cactus has a fifty-two week low of $37.58 and a fifty-two week high of $64.96.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WHD shares. Piper Sandler lowered their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Bank of America increased their price target on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a report on Monday, October 14th. Stifel Nicolaus decreased their target price on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Barclays increased their target price on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Citigroup increased their target price on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.40.

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.