Cactus, Inc. (NYSE:WHD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Cactus, Inc. (NYSE:WHD) have earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Four 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 objective among brokerages that have covered the stock in the last year is $56.3333.

WHD has been the topic of several research analyst reports. Barclays boosted their target price on Cactus from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Citigroup boosted their target price on Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Wall Street Zen cut Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a research note on Friday, March 27th. Finally, Piper Sandler initiated coverage on Cactus in a research note on Tuesday, February 24th. They set an “overweight” rating and a $73.00 target price on the stock.

Cactus Stock Performance

Shares of WHD stock opened at $55.76 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.13 and a current ratio of 5.81. Cactus has a fifty-two week low of $33.20 and a fifty-two week high of $59.25. The stock has a 50 day moving average price of $51.35 and a two-hundred day moving average price of $48.50. The company has a market capitalization of $4.45 billion, a P/E ratio of 23.23, a PEG ratio of 2.44 and a beta of 1.31.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.65 earnings per share 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 firm had revenue of $261.20 million during the quarter, compared to the consensus estimate of $250.60 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The business’s revenue was down 4.0% on a year-over-year basis. Analysts expect that Cactus will post 2.53 earnings per share for the current year.

Cactus Dividend Announcement

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

Insider Activity

In other news, President Joel Bender sold 106,809 shares of the business’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 transaction, the president directly owned 27,793 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Insiders sold 200,000 shares of company stock worth $10,039,080 over the last 90 days. 12.91% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cactus

A number of institutional investors have recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System raised its holdings in Cactus by 2.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 10,066 shares of the company’s stock worth $460,000 after purchasing an additional 208 shares in the last quarter. Covestor Ltd raised its holdings in Cactus by 8.6% in the fourth quarter. Covestor Ltd now owns 2,758 shares of the company’s stock worth $126,000 after purchasing an additional 219 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Cactus by 67.6% in the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after purchasing an additional 259 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Cactus by 0.5% in the second quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock worth $2,532,000 after purchasing an additional 269 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Cactus by 1.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,734 shares of the company’s stock worth $719,000 after purchasing an additional 300 shares in the last quarter. Institutional investors 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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.