Cactus, Inc. (NYSE:WHD) Receives $56.33 Average Price Target from Brokerages

Cactus, Inc. (NYSE:WHD) has received an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $56.3333.

Several equities analysts have commented on the company. Citigroup increased their price target on Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Wall Street Zen cut shares of Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Piper Sandler initiated coverage on shares of Cactus in a research note on Tuesday, February 24th. They issued an “overweight” rating and a $73.00 target price on the stock. Barclays lifted their target price on shares of Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Finally, Zacks Research lowered shares of Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th.

Insider Buying and Selling at Cactus

In related news, President Joel Bender sold 106,809 shares of the stock in a transaction that occurred 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 completion of the sale, the president owned 27,793 shares in the company, valued at $1,387,426.56. This represents a 79.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 200,000 shares of company stock worth $10,039,080. 16.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. State of Tennessee Department of Treasury lifted its holdings in shares of Cactus by 12.1% during the fourth quarter. State of Tennessee Department of Treasury now owns 35,452 shares of the company’s stock worth $1,619,000 after buying an additional 3,823 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Cactus in the fourth quarter worth $335,000. Cim LLC acquired a new stake in shares of Cactus in the fourth quarter worth $218,000. Voloridge Investment Management LLC increased its position in Cactus by 25.9% during the fourth quarter. Voloridge Investment Management LLC now owns 74,035 shares of the company’s stock worth $3,382,000 after acquiring an additional 15,229 shares during the period. Finally, Wellington Management Group LLP raised its stake in Cactus by 20.0% during the 4th quarter. Wellington Management Group LLP now owns 3,963,961 shares of the company’s stock valued at $181,074,000 after purchasing an additional 659,366 shares during the last quarter. 85.11% of the stock is owned by institutional investors.

Cactus Price Performance

Shares of NYSE:WHD opened at $47.44 on Friday. The stock has a market capitalization of $3.79 billion, a P/E ratio of 19.77, a P/E/G ratio of 4.62 and a beta of 1.25. The business has a 50-day moving average of $52.87 and a two-hundred day moving average of $46.50. Cactus has a fifty-two week low of $33.20 and a fifty-two week high of $59.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.81 and a quick ratio of 4.13.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The business had revenue of $261.20 million for the quarter, compared to analyst estimates of $250.60 million. During the same quarter in the prior year, the firm posted $0.71 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, equities research analysts predict that Cactus will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 2nd were paid a $0.14 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. Cactus’s payout ratio is presently 23.33%.

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.