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

Cactus, Inc. (NYSE:WHD) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $58.00.

WHD has been the subject of several research analyst reports. Wall Street Zen lowered shares of Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Citigroup raised their price objective on shares of Cactus from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a report on Friday, March 27th. Barclays boosted their price objective on shares of Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Piper Sandler began coverage on shares of Cactus in a report on Tuesday, February 24th. They issued an “overweight” rating and a $73.00 target price on the stock.

Cactus Price Performance

Shares of NYSE WHD opened at $56.87 on Monday. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01. Cactus has a 52 week low of $33.20 and a 52 week high of $59.25. The firm has a 50-day simple moving average of $51.56 and a 200-day simple moving average of $49.91. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 53.65, a price-to-earnings-growth ratio of 2.17 and a beta of 1.37.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The firm had revenue of $388.35 million during the quarter, compared to analyst estimates of $380.42 million. During the same quarter in the prior year, the firm posted $0.73 earnings per share. Cactus’s quarterly revenue was up 38.5% on a year-over-year basis. On average, equities analysts predict that Cactus will post 2.84 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Monday, June 1st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, June 1st. Cactus’s dividend payout ratio (DPR) is 52.83%.

Insider Activity at Cactus

In related news, Director Alan Semple sold 10,206 shares of Cactus stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total value of $577,863.72. Following the transaction, the director directly owned 29,444 shares in the company, valued at $1,667,119.28. This trade represents a 25.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Joel Bender sold 106,809 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total transaction of $5,331,905.28. Following the transaction, the president directly owned 27,793 shares in the company, valued at approximately $1,387,426.56. This trade represents a 79.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 222,206 shares of company stock worth $11,295,784 in the last three months. Insiders own 12.91% of the company’s stock.

Institutional Investors Weigh In On Cactus

Several institutional investors and hedge funds have recently made changes to their positions in WHD. EverSource Wealth Advisors LLC boosted its position in shares of Cactus by 67.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after buying an additional 259 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in Cactus in the 3rd quarter valued at about $33,000. Aster Capital Management DIFC Ltd increased its stake in shares of Cactus by 73.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after acquiring an additional 314 shares during the last quarter. Huntington National Bank increased its stake in shares of Cactus by 55.4% during the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock valued at $43,000 after acquiring an additional 390 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake 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. 85.11% of the stock is currently 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.