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

Cactus, Inc. (NYSE:WHD) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $63.40.

Several analysts have issued reports on the company. Weiss Ratings raised Cactus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Piper Sandler lifted their price objective on Cactus from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Wall Street Zen downgraded Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Citigroup increased their target price on shares of Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Finally, Barclays raised their target price on shares of Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th.

Cactus Stock Performance

Shares of Cactus stock traded up $1.15 on Tuesday, hitting $51.63. 136,413 shares of the company’s stock were exchanged, compared to its average volume of 928,000. The company has a 50-day simple moving average of $56.52 and a 200-day simple moving average of $53.32. The stock has a market capitalization of $4.14 billion, a PE ratio of 48.71, a PEG ratio of 1.97 and a beta of 1.38. Cactus has a 1 year low of $33.20 and a 1 year high of $64.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.71 and a current ratio of 2.61.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The firm had revenue of $388.35 million during the quarter, compared to analyst estimates of $380.42 million. During the same period in the prior year, the business posted $0.73 EPS. Cactus’s revenue was up 38.5% on a year-over-year basis. As a group, equities analysts anticipate that Cactus will post 2.88 EPS for the current year.

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 1st were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, June 1st. Cactus’s dividend payout ratio (DPR) is presently 52.83%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Cactus

A number of hedge funds have recently made changes to their positions in WHD. Jennison Associates LLC grew its position in shares of Cactus by 202.3% during the first 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 lifted its holdings in Cactus by 52.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,304,595 shares of the company’s stock worth $130,432,000 after purchasing an additional 1,141,249 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new position in Cactus in the 1st quarter worth approximately $41,895,000. Encompass Capital Advisors LLC bought a new position in Cactus in the 1st quarter worth approximately $36,262,000. Finally, Balyasny Asset Management L.P. bought a new position in Cactus in the 2nd quarter worth approximately $30,648,000. Institutional investors own 85.11% of the company’s stock.

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.