Cactus (NYSE:WHD) Downgraded by Johnson Rice

Johnson Rice lowered shares of Cactus (NYSE:WHDFree Report) from a buy rating to an accumulate rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports.

A number of other brokerages also recently issued reports on WHD. Bank of America lifted their price target on shares of Cactus from $40.00 to $43.00 and gave the company an underperform rating in a report on Monday, April 15th. Benchmark reiterated a hold rating on shares of Cactus in a report on Monday, May 6th. Finally, Barclays boosted their target price on shares of Cactus from $55.00 to $56.00 and gave the stock an overweight rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $55.14.

Read Our Latest Stock Analysis on Cactus

Cactus Trading Up 2.0 %

Shares of WHD stock opened at $51.35 on Friday. Cactus has a 12-month low of $31.36 and a 12-month high of $57.00. The company has a current ratio of 3.24, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $50.86 and its 200 day moving average is $46.17. The stock has a market capitalization of $4.09 billion, a P/E ratio of 20.46, a P/E/G ratio of 1.61 and a beta of 1.95.

Cactus (NYSE:WHDGet Free Report) last issued its earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $274.12 million for the quarter, compared to analysts’ expectations of $270.70 million. Cactus had a net margin of 14.46% and a return on equity of 22.46%. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the company posted $0.64 earnings per share. Research analysts expect that Cactus will post 2.94 earnings per share for the current year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 28th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Tuesday, May 28th. Cactus’s dividend payout ratio (DPR) is presently 19.12%.

Insider Buying and Selling

In other Cactus news, President Joel Bender sold 201,585 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $52.03, for a total transaction of $10,488,467.55. Following the transaction, the president now directly owns 555,001 shares of the company’s stock, valued at $28,876,702.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP William D. Marsh sold 2,059 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $51.03, for a total transaction of $105,070.77. Following the completion of the sale, the executive vice president now directly owns 1,852 shares in the company, valued at $94,507.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Joel Bender sold 201,585 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $52.03, for a total transaction of $10,488,467.55. Following the sale, the president now owns 555,001 shares of the company’s stock, valued at $28,876,702.03. The disclosure for this sale can be found here. Over the last three months, insiders have sold 603,759 shares of company stock valued at $31,027,489. Corporate insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Cactus

A number of institutional investors have recently made changes to their positions in WHD. Signaturefd LLC lifted its stake in Cactus by 164.5% in the third quarter. Signaturefd LLC now owns 857 shares of the company’s stock worth $43,000 after acquiring an additional 533 shares during the last quarter. NBC Securities Inc. acquired a new position in Cactus in the 3rd quarter valued at $36,000. Arizona State Retirement System grew its stake in shares of Cactus by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 18,375 shares of the company’s stock worth $923,000 after purchasing an additional 273 shares during the period. Barclays PLC grew its stake in shares of Cactus by 128.4% during the 3rd quarter. Barclays PLC now owns 56,009 shares of the company’s stock worth $2,812,000 after purchasing an additional 31,482 shares during the period. Finally, Moody Aldrich Partners LLC grew its stake in shares of Cactus by 3.6% during the 3rd quarter. Moody Aldrich Partners LLC now owns 127,443 shares of the company’s stock worth $6,399,000 after purchasing an additional 4,462 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

About Cactus

(Get Free Report)

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.

See Also

Analyst Recommendations for Cactus (NYSE:WHD)

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