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

Cactus, Inc. (NYSE:WHD) has received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $62.60.

A number of brokerages recently issued reports on WHD. Piper Sandler lifted their price objective on shares of Cactus from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Stifel Nicolaus lifted their price target on Cactus from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Weiss Ratings lowered Cactus from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. Wall Street Zen lowered Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Barclays lifted their target price on Cactus from $62.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 11th.

Cactus Price Performance

WHD stock opened at $58.73 on Friday. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01. Cactus has a 12 month low of $33.20 and a 12 month high of $64.30. The firm has a market cap of $4.71 billion, a P/E ratio of 55.40, a P/E/G ratio of 2.30 and a beta of 1.37. The company’s 50-day moving average price is $56.15 and its two-hundred day moving average price is $52.28.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. The business had revenue of $388.35 million for the quarter, compared to analysts’ expectations of $380.42 million. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. On average, analysts anticipate that Cactus will post 2.85 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Monday, June 1st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. Cactus’s payout ratio is 52.83%.

Insider Activity at Cactus

In related news, Director Alan Semple sold 10,206 shares of Cactus stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total transaction of $577,863.72. Following the sale, the director directly owned 29,444 shares of the company’s stock, valued at approximately $1,667,119.28. The trade was a 25.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Y. Mcgovern sold 12,000 shares of Cactus stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total transaction of $678,840.00. Following the sale, the director directly owned 15,990 shares in the company, valued at $904,554.30. This trade represents a 42.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 12.91% of the company’s stock.

Institutional Trading of Cactus

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Carlson Capital L.P. bought a new stake in Cactus during the 1st quarter worth $1,611,000. Segall Bryant & Hamill LLC bought a new stake in Cactus during the 1st quarter worth $1,221,000. Bank of America Corp DE grew its position in Cactus by 34.8% during the 1st quarter. Bank of America Corp DE now owns 659,889 shares of the company’s stock worth $31,259,000 after acquiring an additional 170,534 shares during the last quarter. Janus Henderson Group PLC grew its position in Cactus by 0.6% during the 1st quarter. Janus Henderson Group PLC now owns 338,033 shares of the company’s stock worth $16,020,000 after acquiring an additional 2,029 shares during the last quarter. Finally, Cim LLC grew its position in Cactus by 105.2% during the 1st quarter. Cim LLC now owns 9,792 shares of the company’s stock worth $464,000 after acquiring an additional 5,020 shares during 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.