Analysts Set Cactus, Inc. (NYSE:WHD) Price Target at $56.40

Cactus, Inc. (NYSE:WHD) has earned an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $56.40.

Several research analysts have recently commented on WHD shares. Barclays lowered shares of Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target for the company. in a report on Monday, November 4th. Stifel Nicolaus decreased their target price on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Finally, Bank of America increased their price target on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th.

Cactus Stock Up 1.4 %

Shares of Cactus stock opened at $58.36 on Thursday. The business has a 50-day moving average price of $63.00 and a 200 day moving average price of $59.78. Cactus has a fifty-two week low of $37.58 and a fifty-two week high of $70.01. The firm has a market cap of $4.64 billion, a P/E ratio of 20.70, a P/E/G ratio of 2.98 and a beta of 1.97. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.04. The business had revenue of $293.18 million for the quarter, compared to analyst estimates of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS. On average, sell-side analysts forecast that Cactus will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Monday, December 2nd were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Monday, December 2nd. Cactus’s dividend payout ratio (DPR) is 18.44%.

Insider Activity at Cactus

In other Cactus news, CEO Stephen Tadlock sold 33,500 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the transaction, the chief executive officer now owns 36,357 shares of the company’s stock, valued at approximately $2,230,501.95. This trade represents a 47.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce M. Rothstein sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total transaction of $326,100.00. Following the sale, the director now owns 12,177 shares in the company, valued at $794,183.94. This trade represents a 29.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 138,500 shares of company stock worth $8,916,325 in the last three months. 16.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WHD. Principal Financial Group Inc. boosted its stake in Cactus by 3,604.5% during the 2nd quarter. Principal Financial Group Inc. now owns 326,518 shares of the company’s stock valued at $17,221,000 after purchasing an additional 317,704 shares in the last quarter. Maryland State Retirement & Pension System acquired a new position in Cactus during the second quarter worth about $1,208,000. Barlow Wealth Partners Inc. bought a new stake in Cactus in the second quarter worth about $14,553,000. Natixis Advisors LLC acquired a new stake in Cactus in the 2nd quarter valued at about $775,000. Finally, Rhumbline Advisers boosted its position in shares of Cactus by 69.7% during the 2nd quarter. Rhumbline Advisers now owns 206,982 shares of the company’s stock valued at $10,916,000 after purchasing an additional 84,984 shares in 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.