Yahoo Finance How to Find Strong Buy Oils and Energy Stocks Using the Zacks Rank
Building a successful investment portfolio takes skill and hard work, no matter if you're a growth, value, income, or momentum-focused investor.
Should You Buy #1 (Strong Buy)-Ranked Cactus, Inc. (WHD) for Your Portfolio?
Cactus, Inc. was upgraded to the Zacks Rank #1 list on April 20, 2023. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
Along with its consolidated affiliates, Cactus Inc is involved in manufacturing, designing and selling wellhead and pressure control equipment. The products are being utilized by customers for drilling and completing onshore oil and natural gas wells. The equipment are also used by upstream energy companies during production phases in oil and gas wells. Thus, Cactus, headquartered in Houston, TX, generates significant cashflow from selling and renting wellhead and pressure control equipment.
Three analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.31 to $2.66 per share. WHD boasts an average earnings surprise of 10.9%.
Earnings are forecasted to see growth of 44.6% for the current fiscal year, and sales are expected to increase 44.8%.
Additionally, WHD has climbed higher over the past four weeks, gaining 15.4%. The S&P 500 is up 6.2% in comparison.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Cactus, Inc. could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
