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

Cactus, Inc. (NYSE:WHD) has been given an average recommendation of “Moderate Buy” by the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $63.40.

WHD has been the topic of a number of research analyst reports. Piper Sandler upped their price target on Cactus from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Barclays boosted their target price on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Citigroup upped their target price on shares of Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Weiss Ratings raised shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Finally, Wall Street Zen lowered shares of Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st.

Cactus Stock Up 2.3%

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

Cactus (NYSE:WHD) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 15.43% and a net margin of 6.17%.The firm’s quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 EPS. As a group, equities analysts forecast that Cactus will post 2.88 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 1st were issued a $0.14 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.56 annualized dividend and a yield of 1.1%. Cactus’s dividend payout ratio (DPR) is currently 52.83%.

Insider Buying and Selling

In other 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 transaction of $678,840.00. Following the transaction, the director directly owned 15,990 shares of the company’s stock, valued at $904,554.30. This represents a 42.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alan Semple sold 10,206 shares of the firm’s 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 transaction, the director owned 29,444 shares in the company, valued at approximately $1,667,119.28. This trade represents a 25.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 the company. Jennison Associates LLC boosted its position in Cactus by 202.3% in 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 during the last quarter. Wellington Management Group LLP increased its position in shares of Cactus by 52.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,304,595 shares of the company’s stock valued at $130,432,000 after purchasing an additional 1,141,249 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new stake in shares of Cactus during the 1st quarter valued at about $41,895,000. Encompass Capital Advisors LLC purchased a new stake in shares of Cactus during the 1st quarter valued at about $36,262,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Cactus in the 2nd quarter worth approximately $30,648,000. Hedge funds and other 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.