Cactus (NYSE:WHD) Upgraded by Wall Street Zen to “Buy” Rating

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

Several other equities research analysts also recently weighed in on WHD. Citigroup upped their price objective on shares of Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Barclays raised their target price on shares of Cactus from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Piper Sandler upped their price target on shares of Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Finally, Stifel Nicolaus increased their price objective on shares of Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a report on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cactus currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.20.

Cactus Stock Down 1.0%

Shares of Cactus stock opened at $67.87 on Friday. The business’s fifty day moving average price is $56.15 and its two-hundred day moving average price is $54.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.59 and a quick ratio of 1.81. The company has a market capitalization of $5.44 billion, a P/E ratio of 58.01, a PEG ratio of 2.43 and a beta of 1.36. Cactus has a 1-year low of $33.20 and a 1-year high of $68.91.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.29. The company had revenue of $449.53 million during the quarter, compared to analyst estimates of $400.82 million. Cactus had a return on equity of 16.66% and a net margin of 6.01%.The firm’s quarterly revenue was up 64.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, research analysts forecast that Cactus will post 3.07 EPS for the current year.

Cactus Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, August 31st. This is a positive change from Cactus’s previous quarterly dividend of $0.14. Cactus’s payout ratio is presently 47.86%.

Insider Activity at Cactus

In other news, Director Michael Y. Mcgovern sold 12,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was 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 of the company’s stock, valued at $904,554.30. The trade was a 42.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Joel Bender sold 86,700 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $57.62, for a total value of $4,995,654.00. Following the sale, the president directly owned 41,519 shares of the company’s stock, valued at approximately $2,392,324.78. This represents a 67.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 260,661 shares of company stock valued at $15,827,218 over the last ninety days. Company insiders own 12.91% of the company’s stock.

Institutional Trading of Cactus

A number of hedge funds have recently bought and sold shares of WHD. Jennison Associates LLC raised its stake in shares of Cactus by 202.3% during the 1st quarter. Jennison Associates LLC now owns 1,713,701 shares of the company’s stock worth $81,178,000 after purchasing an additional 1,146,766 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Cactus by 52.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,304,595 shares of the company’s stock valued at $130,432,000 after buying an additional 1,141,249 shares in the last quarter. Deprince Race & Zollo Inc. bought a new stake in shares of Cactus in the 1st quarter valued at approximately $41,895,000. Encompass Capital Advisors LLC acquired a new position in Cactus in the first quarter worth approximately $36,262,000. Finally, Balyasny Asset Management L.P. acquired a new position in Cactus in the second quarter worth approximately $30,648,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

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.