Cactus (NYSE:WHD) Stock Price Expected to Rise, Piper Sandler Analyst Says

Cactus (NYSE:WHD) had its target price hoisted by equities research analysts at Piper Sandler from $75.00 to $78.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler‘s target price would suggest a potential upside of 25.48% from the stock’s current price.

A number of other brokerages have also issued reports on WHD. Barclays lifted their price target on Cactus from $74.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a report on Tuesday, September 8th. Citigroup lowered their target price on Cactus from $75.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. Wall Street Zen cut Cactus from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Stifel Nicolaus upped their target price on Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.50.

Cactus Stock Performance

Shares of WHD opened at $62.16 on Tuesday. The stock has a 50-day moving average of $65.75 and a two-hundred day moving average of $58.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.59. The stock has a market cap of $4.98 billion, a P/E ratio of 43.17, a P/E/G ratio of 1.71 and a beta of 1.42. Cactus has a one year low of $39.16 and a one year high of $74.07.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, October 28th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.19. The business had revenue of $430.89 million during the quarter, compared to analysts’ expectations of $437.94 million. Cactus had a return on equity of 18.24% and a net margin of 6.69%. The company’s revenue for the quarter was up 63.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 EPS. As a group, research analysts predict that Cactus will post 3.13 EPS for the current year.

Insider Buying and Selling

In other news, CEO Scott Bender sold 100,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $61.97, for a total value of $6,197,000.00. Following the completion of the sale, the chief executive officer directly owned 120,527 shares of the company’s stock, valued at approximately $7,469,058.19. The trade was a 45.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steven Bender sold 25,000 shares of Cactus stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $67.65, for a total value of $1,691,250.00. Following the transaction, the chief executive officer directly owned 99,241 shares in the company, valued at approximately $6,713,653.65. This trade represents a 20.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 225,000 shares of company stock worth $14,925,250 over the last 90 days. 12.91% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WHD. Squarepoint Ops LLC boosted its stake in shares of Cactus by 104.5% during the second quarter. Squarepoint Ops LLC now owns 369,645 shares of the company’s stock worth $18,937,000 after buying an additional 188,864 shares during the period. Energy Income Partners LLC lifted its stake in shares of Cactus by 48.4% in the 1st quarter. Energy Income Partners LLC now owns 300,759 shares of the company’s stock worth $14,247,000 after acquiring an additional 98,124 shares during the period. Morningstar Investment Management LLC purchased a new stake in shares of Cactus in the first quarter valued at about $949,000. Jennison Associates LLC raised its holdings in 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. Finally, Bessemer Group Inc. boosted its holdings in Cactus by 17.4% in the 1st quarter. Bessemer Group Inc. now owns 559,901 shares of the company’s stock valued at $26,523,000 after purchasing an additional 83,080 shares in the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

About Cactus

Cactus, Inc (NYSE: WHD) designs, manufactures, sells and rents wellhead and pressure-control equipment used in onshore oil and gas drilling and production. Its products are designed to help operators manage pressure and control access to wells during drilling, completion and production activities.

The company’s offerings include wellhead systems, frac stacks, zipper manifolds and other pressure-control equipment. Cactus also provides field services, including equipment installation, maintenance and support, as well as rental services for selected products.