Cactus (NYSE:WHD) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Cactus (NYSE:WHD) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Other analysts have also issued research reports about the company. Zacks Research lowered Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Barclays upped their price target on Cactus from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Piper Sandler initiated coverage on Cactus in a research report on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. Finally, Citigroup upped their target price on shares of Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.33.

Cactus Trading Up 4.8%

NYSE:WHD opened at $47.77 on Friday. The company’s 50 day moving average price is $53.43 and its 200-day moving average price is $46.22. Cactus has a 52 week low of $33.20 and a 52 week high of $59.25. The company has a quick ratio of 4.13, a current ratio of 5.81 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 4.51 and a beta of 1.25.

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

Cactus Announces Dividend

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

Insider Activity

In other news, President Joel Bender sold 106,809 shares of the firm’s stock in a transaction on 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders sold 200,000 shares of company stock valued at $10,039,080. Company insiders own 16.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of Cactus by 52.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,304,595 shares of the company’s stock valued at $130,432,000 after purchasing an additional 1,141,249 shares during the period. Balyasny Asset Management L.P. bought a new position in shares of Cactus in the 2nd quarter worth approximately $30,648,000. Capital International Investors lifted its stake in shares of Cactus by 27.0% in the 4th quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock worth $107,062,000 after purchasing an additional 498,210 shares during the period. Capital Research Global Investors purchased a new position in shares of Cactus in the third quarter worth approximately $19,563,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Cactus by 559.4% in the fourth quarter. Franklin Resources Inc. now owns 544,998 shares of the company’s stock worth $24,896,000 after buying an additional 462,345 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

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.