Cactus, Inc. (NYSE:WHD) Given Average Recommendation of “Hold” by Brokerages

Cactus, Inc. (NYSE:WHD) has earned a consensus rating of “Hold” from the seven brokerages that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $66.80.

A number of brokerages have issued reports on WHD. Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Piper Sandler raised their price target on Cactus from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Citigroup cut Cactus from a “buy” rating to a “neutral” rating and lifted their price target for the company from $67.00 to $75.00 in a research report on Thursday, August 20th. Barclays increased their price objective on Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Finally, Stifel Nicolaus raised their target price on Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, July 31st.

Insider Activity

In related news, CEO Stephen Tadlock sold 38,455 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $63.80, for a total transaction of $2,453,429.00. Following the completion of the transaction, the chief executive officer owned 43,178 shares of the company’s stock, valued at approximately $2,754,756.40. The trade was a 47.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joel Bender sold 86,700 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $57.62, for a total transaction of $4,995,654.00. Following the sale, the president directly owned 41,519 shares in the company, valued at $2,392,324.78. This trade represents a 67.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 263,455 shares of company stock valued at $16,261,764 over the last ninety days. 12.91% of the stock is owned by insiders.

Hedge Funds Weigh In On Cactus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its position in shares of Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after acquiring an additional 543 shares during the last quarter. AQR Capital Management LLC raised its stake in Cactus by 101.1% in the first quarter. AQR Capital Management LLC now owns 11,427 shares of the company’s stock valued at $524,000 after purchasing an additional 5,745 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Cactus by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,685 shares of the company’s stock valued at $1,819,000 after purchasing an additional 1,733 shares in the last quarter. United Services Automobile Association bought a new stake in Cactus during the first quarter valued at approximately $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Cactus by 26.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company’s stock valued at $10,400,000 after purchasing an additional 46,835 shares during the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Cactus Price Performance

Shares of NYSE:WHD opened at $70.59 on Wednesday. The company has a quick ratio of 1.81, a current ratio of 2.59 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $5.66 billion, a PE ratio of 60.33, a P/E/G ratio of 2.48 and a beta of 1.36. Cactus has a twelve month low of $33.20 and a twelve month high of $74.07. The company has a 50-day moving average price of $60.68 and a two-hundred day moving average price of $56.55.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.29. The company had revenue of $449.53 million for the quarter, compared to analyst estimates of $400.82 million. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The company’s quarterly revenue was up 64.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Equities analysts forecast that Cactus will post 3.12 EPS for the current year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Cactus’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. Cactus’s payout ratio is currently 51.28%.

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.