Cactus, Inc. (NYSE:WHD) Receives $55.00 Average PT from Brokerages

Cactus, Inc. (NYSE:WHD) has been given a consensus rating of “Hold” by the eight analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $55.00.

Several analysts have commented on WHD shares. Bank of America lifted their target price on shares of Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a research note on Monday, April 15th. Citigroup upped their target price on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Johnson Rice lowered Cactus from a “buy” rating to an “accumulate” rating in a research note on Friday, May 31st. Barclays lifted their price target on Cactus from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Finally, Piper Sandler cut their price objective on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, July 15th.

Cactus Stock Down 4.8 %

WHD opened at $59.01 on Monday. The firm has a market cap of $4.69 billion, a P/E ratio of 23.51, a PEG ratio of 2.27 and a beta of 1.98. The business’s fifty day simple moving average is $53.78 and its 200 day simple moving average is $49.80. Cactus has a 52 week low of $37.58 and a 52 week high of $64.96. The company has a quick ratio of 2.17, a current ratio of 3.75 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.09. The company had revenue of $290.39 million for the quarter, compared to analysts’ expectations of $276.76 million. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same period last year, the company earned $0.84 EPS. As a group, equities research analysts anticipate that Cactus will post 2.89 EPS for the current fiscal year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 26th will be paid a $0.13 dividend. This is a positive change from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, August 26th. Cactus’s payout ratio is currently 19.12%.

Insider Buying and Selling

In other Cactus news, CEO Scott Bender sold 39,957 shares of Cactus stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $51.01, for a total transaction of $2,038,206.57. Following the transaction, the chief executive officer now directly owns 400,234 shares of the company’s stock, valued at $20,415,936.34. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP William D. Marsh sold 2,059 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $51.03, for a total value of $105,070.77. Following the completion of the sale, the executive vice president now owns 1,852 shares in the company, valued at $94,507.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Scott Bender sold 39,957 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $51.01, for a total value of $2,038,206.57. Following the sale, the chief executive officer now owns 400,234 shares in the company, valued at $20,415,936.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 602,059 shares of company stock valued at $30,948,949. 17.72% of the stock is currently owned by corporate insiders.

Institutional Trading of Cactus

Several large investors have recently bought and sold shares of WHD. Charles Schwab Investment Management Inc. grew its holdings in Cactus by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 592,264 shares of the company’s stock valued at $26,889,000 after purchasing an additional 19,734 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Cactus by 4.0% during the 4th quarter. Victory Capital Management Inc. now owns 568,500 shares of the company’s stock worth $25,810,000 after purchasing an additional 22,028 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Cactus by 41.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 323,485 shares of the company’s stock valued at $16,203,000 after purchasing an additional 94,704 shares in the last quarter. Keeley Teton Advisors LLC boosted its stake in shares of Cactus by 24.0% during the 4th quarter. Keeley Teton Advisors LLC now owns 98,118 shares of the company’s stock valued at $4,455,000 after buying an additional 18,962 shares during the last quarter. Finally, Norden Group LLC increased its stake in shares of Cactus by 1,182.8% in the first quarter. Norden Group LLC now owns 117,252 shares of the company’s stock worth $5,873,000 after buying an additional 108,112 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

About Cactus

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.