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

Cactus, Inc. (NYSE:WHD) has been given an average recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $63.40.

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

Cactus Stock Down 3.9%

Shares of NYSE WHD opened at $54.52 on Friday. Cactus has a 1 year low of $33.20 and a 1 year high of $64.30. The firm’s 50-day moving average is $56.97 and its 200-day moving average is $52.80. The company has a current ratio of 2.61, a quick ratio of 1.71 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $4.37 billion, a PE ratio of 51.43, a price-to-earnings-growth ratio of 2.22 and a beta of 1.37.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, topping 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 business had revenue of $388.35 million during the quarter, compared to the consensus estimate of $380.42 million. During the same period in the previous year, the firm posted $0.73 earnings per share. Cactus’s revenue for the quarter was up 38.5% compared to the same quarter last year. Equities analysts expect that Cactus will post 2.88 EPS for the current year.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 1st were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. Cactus’s dividend payout ratio is 52.83%.

Insider Buying and Selling

In related news, Director Alan Semple sold 10,206 shares of Cactus stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total transaction of $577,863.72. Following the transaction, the director owned 29,444 shares of the company’s stock, valued at $1,667,119.28. This trade represents a 25.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Y. Mcgovern sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.57, for a total transaction of $678,840.00. Following the transaction, the director owned 15,990 shares of the company’s stock, valued at approximately $904,554.30. This represents a 42.87% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 12.91% of the company’s stock.

Institutional Trading of Cactus

Several hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew 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 acquiring an additional 543 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Cactus by 101.1% during the 1st quarter. AQR Capital Management LLC now owns 11,427 shares of the company’s stock valued at $524,000 after purchasing an additional 5,745 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 Cactus during the 1st quarter worth approximately $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Cactus by 26.0% during the 1st 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 purchasing 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.