Cactus, Inc. (NYSE:WHD) Receives $55.00 Average PT from Analysts

Shares of Cactus, Inc. (NYSE:WHD) have been assigned an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $55.00.

A number of research analysts recently weighed in on WHD shares. Piper Sandler dropped their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Bank of America increased their price objective on Cactus from $40.00 to $43.00 and gave the stock an “underperform” rating in a research note on Monday, April 15th. Citigroup increased their price objective on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Barclays increased their price objective on Cactus from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Finally, Johnson Rice downgraded Cactus from a “buy” rating to an “accumulate” rating in a research note on Friday, May 31st.

Cactus Trading Down 4.8 %

NYSE WHD opened at $59.02 on Monday. The business’s 50-day moving average price is $53.62 and its two-hundred day moving average price is $49.51. Cactus has a 12 month low of $37.58 and a 12 month high of $64.96. The firm has a market capitalization of $4.70 billion, a PE ratio of 23.51, a price-to-earnings-growth ratio of 2.43 and a beta of 1.98. 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 announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.11. The company had revenue of $290.39 million for the quarter, compared to the consensus estimate of $276.76 million. Cactus had a return on equity of 21.70% and a net margin of 16.88%. The firm’s revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.84 EPS. On average, analysts expect that Cactus will post 2.89 EPS for the current year.

Cactus Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 26th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, August 26th. This is an increase from Cactus’s previous quarterly dividend of $0.12. Cactus’s dividend payout ratio (DPR) is 19.12%.

Insider Buying and Selling

In other Cactus news, EVP William D. Marsh sold 2,059 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $51.03, for a total transaction of $105,070.77. Following the sale, the executive vice president now owns 1,852 shares in the company, valued at $94,507.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Scott Bender sold 39,957 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $51.01, for a total transaction of $2,038,206.57. Following the transaction, the chief executive officer now directly owns 400,234 shares of the company’s stock, valued at $20,415,936.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William D. Marsh sold 2,059 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $51.03, for a total value of $105,070.77. Following the transaction, the executive vice president now directly owns 1,852 shares in the company, valued at $94,507.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 602,059 shares of company stock worth $30,948,949. Corporate insiders own 17.71% of the company’s stock.

Institutional Trading of Cactus

Large investors have recently modified their holdings of the business. Principal Securities Inc. bought a new stake in shares of Cactus in the fourth quarter worth about $30,000. GAMMA Investing LLC bought a new stake in Cactus during the 4th quarter valued at approximately $33,000. TFO Wealth Partners LLC boosted its position in Cactus by 221,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,214 shares of the company’s stock valued at $101,000 after acquiring an additional 2,213 shares in the last quarter. SG Americas Securities LLC bought a new stake in Cactus during the 1st quarter valued at approximately $115,000. Finally, Covestor Ltd boosted its position in Cactus by 251.8% during the 1st quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after acquiring an additional 1,795 shares in the last quarter. 85.11% of the stock is owned by institutional investors.

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.