Cactus (NYSE:WHD) PT Raised to $43.00 at Bank of America

Cactus (NYSE:WHD) had its price objective hoisted by Bank of America from $40.00 to $43.00 in a report released on Monday morning, Benzinga reports. Bank of America currently has an underperform rating on the stock.

Other analysts have also issued reports about the stock. Stifel Nicolaus cut their target price on shares of Cactus from $68.00 to $60.00 and set a buy rating for the company in a research note on Wednesday, January 3rd. Benchmark downgraded shares of Cactus from a buy rating to a hold rating in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $55.29.

Cactus Stock Down 0.5 %

WHD stock opened at $49.13 on Monday. Cactus has a 12 month low of $31.36 and a 12 month high of $57.00. The firm has a market cap of $3.90 billion, a PE ratio of 19.27, a P/E/G ratio of 8.98 and a beta of 1.96. The firm has a 50 day simple moving average of $47.80 and a 200 day simple moving average of $45.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.17 and a quick ratio of 2.00.

Cactus (NYSE:WHD) last released its earnings results on Thursday, February 29th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.68 by $0.13. Cactus had a net margin of 15.42% and a return on equity of 22.69%. The business had revenue of $274.87 million during the quarter, compared to analyst estimates of $268.56 million. During the same period in the prior year, the business earned $0.57 earnings per share. The business’s quarterly revenue was up 46.4% on a year-over-year basis. Equities research analysts forecast that Cactus will post 2.87 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, February 26th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.48 annualized dividend and a dividend yield of 0.98%. Cactus’s dividend payout ratio (DPR) is presently 18.82%.

Insider Activity at Cactus

In other Cactus news, CEO Scott Bender sold 78,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $45.79, for a total value of $3,571,620.00. Following the completion of the sale, the chief executive officer now owns 20 shares in the company, valued at approximately $915.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cactus news, CEO Scott Bender sold 78,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $45.79, for a total value of $3,571,620.00. Following the completion of the sale, the chief executive officer now owns 20 shares in the company, valued at approximately $915.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William D. Marsh sold 1,700 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $46.20, for a total transaction of $78,540.00. Following the completion of the sale, the executive vice president now owns 3,911 shares of the company’s stock, valued at approximately $180,688.20. The disclosure for this sale can be found here. 17.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WHD. PNC Financial Services Group Inc. increased its stake in shares of Cactus by 70.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,016 shares of the company’s stock worth $172,000 after purchasing an additional 1,247 shares during the last quarter. MetLife Investment Management LLC grew its stake in Cactus by 55.2% in the 1st quarter. MetLife Investment Management LLC now owns 30,390 shares of the company’s stock valued at $1,724,000 after buying an additional 10,813 shares during the last quarter. BlackRock Inc. grew its stake in Cactus by 2.4% in the 1st quarter. BlackRock Inc. now owns 3,987,233 shares of the company’s stock valued at $226,236,000 after buying an additional 94,603 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in Cactus in the 1st quarter valued at $268,000. Finally, Dimensional Fund Advisors LP grew its stake in Cactus by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 950,570 shares of the company’s stock valued at $53,933,000 after buying an additional 10,327 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

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.