Cactus (WHD) Gets a Buy Rating from RBC Capital

By Austin Angelo

In a report issued on April 3, Kurt Hallead from RBC Capital maintained a Buy rating on Cactus (WHDResearch Report), with a price target of $15.00. The company’s shares closed last Friday at $11.46, close to its 52-week low of $8.16.

According to TipRanks.com, Hallead has currently no stars on a ranking scale of 0-5 stars, with an average return of -20.2% and a 26.2% success rate. Hallead covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Diamond Offshore Drilling, and Oceaneering International.

Cactus has an analyst consensus of Moderate Buy, with a price target consensus of $23.17, representing an 84.5% upside. In a report issued on March 19, Wolfe Research also upgraded the stock to Buy.

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Based on Cactus’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $140 million and net profit of $18.06 million. In comparison, last year the company earned revenue of $140 million and had a net profit of $16.92 million.

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Cactus, Inc. engages in the design, manufacture, sale and rent out of a range of engineered wellhead and pressure control equipment. The products of the firm are sold and rented principally for onshore unconventional oil and gas wells, and are utilized during the drilling, completion, and production phase of wells. Its products include well head systems, frac stacks, zipper manifolds, and production trees. The company was founded in August 2011 and is headquartered in Houston, TX.