Cactus, Inc. (NYSE:WHD) Receives $56.33 Consensus Price Target from Brokerages

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

A number of equities analysts have weighed in on the stock. Wall Street Zen lowered shares of Cactus from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a research note on Friday, March 27th. Barclays upped their price target on Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Zacks Research lowered Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Citigroup upped their price target on Cactus from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd.

Cactus Stock Up 2.6%

Shares of WHD opened at $56.81 on Thursday. The firm has a market cap of $4.54 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 2.37 and a beta of 1.31. The company’s fifty day moving average is $51.41 and its two-hundred day moving average is $48.06. Cactus has a fifty-two week low of $33.20 and a fifty-two week high of $59.25. The company has a quick ratio of 4.13, a current ratio of 5.81 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $261.20 million for the quarter, compared to analyst estimates of $250.60 million. Cactus had a net margin of 15.39% and a return on equity of 15.18%. Cactus’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the business earned $0.71 EPS. Analysts forecast that Cactus will post 2.53 earnings per share for the current year.

Cactus Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 2nd were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, March 2nd. Cactus’s payout ratio is currently 23.33%.

Insider Transactions at Cactus

In other Cactus news, President Joel Bender sold 106,809 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were 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 in the company, valued at $1,387,426.56. The trade was a 79.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 200,000 shares of company stock worth $10,039,080 in the last ninety days. 12.91% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System raised its position in Cactus by 2.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 10,066 shares of the company’s stock valued at $460,000 after purchasing an additional 208 shares during the period. Covestor Ltd raised its position in Cactus by 8.6% in the fourth quarter. Covestor Ltd now owns 2,758 shares of the company’s stock valued at $126,000 after purchasing an additional 219 shares during the period. EverSource Wealth Advisors LLC raised its position in Cactus by 67.6% in the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $25,000 after purchasing an additional 259 shares during the period. CANADA LIFE ASSURANCE Co raised its position in Cactus by 0.5% in the second quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock valued at $2,532,000 after purchasing an additional 269 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in Cactus by 1.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,734 shares of the company’s stock valued at $719,000 after purchasing an additional 300 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Company Profile

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.