Cactus (NYSE:WHD) Sets New 52-Week High – Time to Buy?

Cactus, Inc. (NYSE:WHD) shares reached a new 52-week high on Monday . The stock traded as high as $59.54 and last traded at $59.3970, with a volume of 101048 shares. The stock had previously closed at $56.96.

Wall Street Analysts Forecast Growth

WHD has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a research report on Friday, March 27th. Zacks Research lowered Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Barclays upped their price objective on Cactus from $62.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Wall Street Zen lowered Cactus from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Citigroup boosted their price target on Cactus from $63.00 to $65.00 and gave the company a “buy” rating in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Cactus currently has an average rating of “Moderate Buy” and an average price target of $60.50.

Cactus Price Performance

The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 58.76, a price-to-earnings-growth ratio of 2.30 and a beta of 1.37. 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 company’s fifty day moving average price is $51.97 and its 200 day moving average price is $50.18.

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

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, June 1st. Cactus’s dividend payout ratio is 52.83%.

Insiders Place Their Bets

In related news, President Joel Bender sold 106,809 shares of Cactus stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total value of $5,331,905.28. Following the completion of the sale, the president directly owned 27,793 shares in the company, valued at $1,387,426.56. This trade represents a 79.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Semple sold 10,206 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total transaction of $577,863.72. Following the sale, the director directly owned 29,444 shares of the company’s stock, 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. In the last quarter, insiders have sold 222,206 shares of company stock valued at $11,295,784. 12.91% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cactus

Hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. lifted its stake in Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after buying an additional 543 shares in the last quarter. AQR Capital Management LLC increased its holdings in Cactus by 101.1% during the 1st quarter. AQR Capital Management LLC now owns 11,427 shares of the company’s stock worth $524,000 after purchasing an additional 5,745 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Cactus by 4.6% in the 1st 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 during the period. United Services Automobile Association bought a new stake in shares of Cactus in the first quarter valued at about $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of 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 worth $10,400,000 after buying an additional 46,835 shares in the last quarter. Institutional investors and hedge funds 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.