Cactus (NYSE:WHD) Price Target Raised to $56.00

Cactus (NYSE:WHD) had its price objective raised by Barclays from $55.00 to $56.00 in a report released on Monday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the company. Benchmark reiterated a hold rating on shares of Cactus in a report on Monday. Bank of America raised their target price on shares of Cactus from $40.00 to $43.00 and gave the company an underperform rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Cactus presently has an average rating of Hold and a consensus target price of $55.14.

Cactus Price Performance

WHD stock opened at $50.56 on Monday. The stock has a 50-day moving average price of $49.54 and a two-hundred day moving average price of $45.59. Cactus has a 1 year low of $31.36 and a 1 year high of $57.00. The stock has a market cap of $4.01 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 9.11 and a beta of 1.95. The company has a current ratio of 3.24, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $274.12 million during the quarter, compared to analysts’ expectations of $270.70 million. Cactus had a return on equity of 22.46% and a net margin of 14.46%. Cactus’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. Equities analysts forecast that Cactus will post 2.87 EPS for the current fiscal year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Friday, May 24th. Cactus’s dividend payout ratio (DPR) is currently 19.12%.

Insider Activity

In other news, CEO Scott Bender sold 78,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $45.79, for a total value of $3,571,620.00. Following the sale, the chief executive officer now directly owns 20 shares of the company’s stock, valued at approximately $915.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Scott Bender sold 78,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $45.79, for a total value of $3,571,620.00. Following the completion of the sale, the chief executive officer now directly owns 20 shares of the company’s stock, valued at $915.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP William D. Marsh sold 1,700 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $46.20, for a total value of $78,540.00. Following the completion of the sale, the executive vice president now directly owns 3,911 shares of the company’s stock, valued at $180,688.20. The disclosure for this sale can be found here. Insiders own 16.84% of the company’s stock.

Institutional Trading of Cactus

Hedge funds have recently made changes to their positions in the business. Principal Securities Inc. acquired a new stake in shares of Cactus in the fourth quarter valued at approximately $30,000. NBC Securities Inc. acquired a new stake in Cactus during the 3rd quarter worth approximately $36,000. GAMMA Investing LLC acquired a new stake in Cactus during the 4th quarter worth approximately $33,000. Signaturefd LLC lifted its holdings in Cactus by 164.5% during the 3rd quarter. Signaturefd LLC now owns 857 shares of the company’s stock worth $43,000 after purchasing an additional 533 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Cactus during the 3rd quarter worth approximately $70,000. 85.11% of the stock is owned by institutional investors and hedge funds.

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.