Analysts Set Cactus, Inc. (NYSE:WHD) PT at $50.75

Shares of Cactus, Inc. (NYSE:WHD) have been given a consensus recommendation of “Hold” by the five research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $50.75.

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Cactus from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Zacks Research lowered shares of Cactus from a “hold” rating to a “strong sell” rating in a research note on Monday, September 8th. Barclays reissued an “overweight” rating and set a $52.00 target price (down from $53.00) on shares of Cactus in a research note on Monday, August 4th. Stifel Nicolaus lowered their target price on shares of Cactus from $57.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 1st. Finally, Wall Street Zen upgraded shares of Cactus from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th.

Insider Buying and Selling

In other Cactus news, EVP William D. Marsh sold 10,172 shares of Cactus stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total transaction of $420,307.04. Following the transaction, the executive vice president directly owned 11,088 shares of the company’s stock, valued at $458,156.16. The trade was a 47.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.75% of the company’s stock.

Institutional Investors Weigh In On Cactus

A number of institutional investors and hedge funds have recently made changes to their positions in WHD. Advisors Asset Management Inc. grew its holdings in Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after purchasing an additional 543 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Cactus during the 1st quarter worth $57,000. Financial Harvest LLC purchased a new position in Cactus in the 1st quarter worth approximately $130,000. CWM LLC boosted its holdings in Cactus by 131.7% in the 2nd quarter. CWM LLC now owns 2,966 shares of the company’s stock worth $130,000 after acquiring an additional 1,686 shares during the period. Finally, KBC Group NV boosted its stake in Cactus by 11.9% during the 1st quarter. KBC Group NV now owns 3,373 shares of the company’s stock valued at $155,000 after acquiring an additional 360 shares during the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Stock Down 4.1%

Cactus stock opened at $40.00 on Wednesday. The business has a fifty day moving average of $42.29 and a two-hundred day moving average of $42.90. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. The firm has a market cap of $3.19 billion, a P/E ratio of 15.09, a P/E/G ratio of 3.94 and a beta of 1.53. Cactus has a twelve month low of $33.80 and a twelve month high of $70.01.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Cactus had a return on equity of 17.34% and a net margin of 16.19%.The company had revenue of $273.58 million during the quarter, compared to analyst estimates of $280.28 million. During the same quarter last year, the business earned $0.81 earnings per share. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, analysts forecast that Cactus will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from Cactus’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. Cactus’s payout ratio is currently 21.13%.

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.