Los Angeles Capital Management & Equity Research Inc. Acquires New Position in Cactus Inc (WHD)

Los Angeles Capital Management & Equity Research Inc. acquired a new position in Cactus Inc (NYSE:WHD) during the 3rd quarter, HoldingsChannel reports. The fund acquired 18,960 shares of the company’s stock, valued at approximately $726,000.

A number of other large investors have also recently made changes to their positions in WHD. Legal & General Group Plc purchased a new stake in Cactus during the first quarter worth $111,000. Royal Bank of Canada purchased a new stake in Cactus during the first quarter worth $115,000. Macquarie Group Ltd. purchased a new stake in Cactus during the second quarter worth $199,000. Raymond James & Associates purchased a new stake in Cactus during the second quarter worth $212,000. Finally, State of Wisconsin Investment Board purchased a new stake in Cactus during the second quarter worth $237,000. 47.17% of the stock is currently owned by institutional investors.

Shares of WHD opened at $28.64 on Friday. Cactus Inc has a 12 month low of $19.18 and a 12 month high of $40.97. The company has a quick ratio of 2.28, a current ratio of 3.52 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.23 billion and a PE ratio of 0.02.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. Cactus had a return on equity of 51.28% and a net margin of 11.31%. The firm had revenue of $150.70 million during the quarter, compared to analyst estimates of $146.35 million. The company’s quarterly revenue was up 57.0% on a year-over-year basis. Analysts forecast that Cactus Inc will post 1.79 earnings per share for the current year.

WHD has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on Cactus in a report on Tuesday, September 18th. They set an “overweight” rating and a $42.00 target price for the company. JPMorgan Chase & Co. upped their target price on Cactus from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, September 17th. Zacks Investment Research upgraded Cactus from a “hold” rating to a “strong-buy” rating and set a $44.00 target price for the company in a report on Thursday, October 4th. Royal Bank of Canada upped their target price on Cactus to $40.00 and gave the stock an “outperform” rating in a report on Tuesday, July 31st. Finally, Citigroup set a $42.00 target price on Cactus and gave the stock a “buy” rating in a report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $38.80.

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About Cactus

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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Institutional Ownership by Quarter for Cactus (NYSE:WHD)

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