Cactus, Inc. (NYSE:WHD) Given Average Rating of “Moderate Buy” by Brokerages

Cactus, Inc. (NYSE:WHD) has been assigned an average rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $56.3333.

Several equities research analysts have recently weighed in on WHD shares. Zacks Research downgraded Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Wall Street Zen cut shares of Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Barclays increased their price target on shares of Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. Finally, Piper Sandler assumed coverage on shares of Cactus in a research note on Tuesday, February 24th. They issued an “overweight” rating and a $73.00 price objective on the stock.

Cactus Stock Down 1.0%

WHD opened at $48.32 on Friday. Cactus has a one year low of $33.20 and a one year high of $59.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.13 and a current ratio of 5.81. The stock has a market capitalization of $3.86 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 4.79 and a beta of 1.25. The business’s 50-day simple moving average is $53.11 and its 200-day simple moving average is $46.38.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The firm had revenue of $261.20 million during the quarter, compared to analysts’ expectations of $250.60 million. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The business’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. Analysts anticipate that Cactus will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 2nd were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. Cactus’s dividend payout ratio (DPR) is currently 23.33%.

Insider Transactions at Cactus

In other Cactus news, President Joel Bender sold 106,809 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total transaction of $5,331,905.28. Following the completion of the sale, the president directly owned 27,793 shares of the company’s stock, valued at $1,387,426.56. This represents a 79.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 200,000 shares of company stock valued at $10,039,080. Insiders own 13.75% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vest Financial LLC lifted its holdings in shares of Cactus by 35.3% during the third quarter. Vest Financial LLC now owns 107,899 shares of the company’s stock worth $4,259,000 after purchasing an additional 28,139 shares during the period. Hudson Edge Investment Partners Inc. increased its stake in Cactus by 249.2% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 28,388 shares of the company’s stock valued at $1,120,000 after buying an additional 20,258 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Cactus during the 3rd quarter worth $1,872,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Cactus during the 3rd quarter worth $525,000. Finally, Schroder Investment Management Group lifted its stake in shares of Cactus by 26.3% in the 2nd quarter. Schroder Investment Management Group now owns 669,241 shares of the company’s stock worth $29,259,000 after acquiring an additional 139,155 shares during the period. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.