Cactus

WHD · NYSE

$62.45+$0.68 (+1.10%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $61.77

WHD analyst rating

BuyConsensus of 5 analysts over the last 12 months. 60% rate it a buy.

Strong buy0
Buy3
Hold2
Underperform0
Sell0

12-month price target · 10 analysts

Average $72.29 (+15.8% upside)

Low: $57.57
Now: $62.45
High: $87.15

Upgrades and downgrades

The latest rating actions, newest first

WHD analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Barclays	Oct 15, 2026	Maintains	Overweight	$74.00 → $75.00	54%
Citigroup	Sep 30, 2026	Maintains	Neutral	$75.00 → $73.00	48%
Citigroup	Aug 20, 2026	Downgrade	Buy → Neutral	$67.00 → $75.00	48%
Barclays	Aug 3, 2026	Maintains	Overweight	$70.00 → $74.00	54%
Stifel	Jul 31, 2026	Maintains	Buy	$68.00 → $72.00	51%
Piper Sandler	Jul 14, 2026	Maintains	Overweight	$72.00 → $73.00	46%
Citigroup	Jun 18, 2026	Maintains	Buy	$65.00 → $67.00	48%
Stifel	Jun 16, 2026	Maintains	Buy	$66.00 → $68.00	51%
Stifel	May 20, 2026	Maintains	Buy	$59.00 → $66.00	51%
Piper Sandler	May 18, 2026	Maintains	Overweight	$69.00 → $72.00	46%

The case for and against

Updated Oct 16, 2026

Bull case

Cactus is benefiting from higher North American activity driven by stronger oil fundamentals, which is supporting improved demand across both Pressure Control and Spoolable Technologies, with 2Q26 revenue expected to rise low-single digits sequentially in Pressure Control and mid-to-high single digits in Spoolable Technologies. The company’s differentiated SafeDrill product, estimated to hold over 50% of the U.S. land market, and its ability to generate free cash flow reinforce its competitive moat, while the Vietnam facility’s API certification and tariff advantages should further support margins and share gains. Management’s raised 2Q26 segment EBITDA margin guide of approximately 23%-25%, plus about $15 million in annualized Cactus International synergies and order momentum including $30 million in Latin America deliveries for 2026, suggest improving profitability and earnings durability.

Bear case

Cactus is facing a weaker fundamental setup as tariff-related headwinds, higher logistics costs, and reduced manufacturing absorption threaten margins while offsetting cost-out efforts. Operating income underscored that pressure, with $49.5 million missing the $63.9 million estimate by 22.5% and $38.6 million coming in 31.1% below the $56.1 million forecast, while segment EBITDA margin guidance of 22-24% implies roughly $69.0 million of adjusted EBITDA, about 6.8% below the pre-release forecast. Although segment revenue reached $300.2 million and grew sharply versus the prior periods, the gains were aided by Cactus International and appear less durable if oil prices weaken or imported lower-cost goods continue to intensify competition.

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