Cactus (NYSE:WHD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cactus (NYSE:WHD) from a hold rating to a buy rating in a research report released on Saturday.

Several other analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a report on Monday, December 29th. Citigroup lifted their target price on shares of Cactus from $55.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Piper Sandler assumed coverage on shares of Cactus in a research report on Tuesday, February 24th. They set an “overweight” rating and a $73.00 target price for the company. Barclays upped their price target on shares of Cactus from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Finally, Zacks Research lowered Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $56.33.

Cactus Stock Up 3.2%

WHD opened at $51.64 on Friday. The firm has a market cap of $4.12 billion, a P/E ratio of 21.51, a price-to-earnings-growth ratio of 4.91 and a beta of 1.25. 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 business has a 50 day moving average price of $53.87 and a 200 day moving average price of $45.88. Cactus has a twelve month low of $33.20 and a twelve month high of $59.25.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The company had revenue of $261.20 million for the quarter, compared to the consensus estimate of $250.60 million. During the same quarter last year, the company posted $0.71 earnings per share. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. Research analysts forecast that Cactus will post 3.08 EPS for the current year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.14 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. Cactus’s payout ratio is currently 23.33%.

Insider Transactions at Cactus

In other Cactus news, President Joel Bender sold 63,963 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $50.74, for a total value of $3,245,482.62. Following the sale, the president owned 242,838 shares of the company’s stock, valued at $12,321,600.12. The trade was a 20.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 16.84% of the stock is owned by company insiders.

Institutional Trading of Cactus

Several institutional investors have recently made changes to their positions in the business. Vest Financial LLC boosted its holdings in Cactus by 35.3% during the third quarter. Vest Financial LLC now owns 107,899 shares of the company’s stock valued at $4,259,000 after purchasing an additional 28,139 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its holdings in shares of Cactus by 249.2% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 28,388 shares of the company’s stock worth $1,120,000 after buying an additional 20,258 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Cactus during the 3rd quarter worth approximately $1,872,000. AGF Management Ltd. bought a new position in shares of Cactus during the 2nd quarter worth approximately $672,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new stake in Cactus in the 3rd quarter valued at $525,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

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.