Cactus, Inc. (NYSE:WHD) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Cactus, Inc. (NYSE:WHD) have been given an average recommendation of “Hold” by the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $55.00.

WHD has been the subject of several recent research reports. Bank of America increased their price target on Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Citigroup raised their target price on shares of Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Johnson Rice lowered shares of Cactus from a “buy” rating to an “accumulate” rating in a research report on Friday, May 31st. Piper Sandler decreased their price objective on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Finally, Barclays upped their target price on shares of Cactus from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, May 6th.

Cactus Price Performance

Shares of WHD opened at $59.01 on Monday. The company has a quick ratio of 2.17, a current ratio of 3.75 and a debt-to-equity ratio of 0.01. Cactus has a twelve month low of $37.58 and a twelve month high of $64.96. The stock has a market capitalization of $4.69 billion, a P/E ratio of 23.51, a P/E/G ratio of 2.27 and a beta of 1.98. The company has a 50 day moving average of $53.78 and a 200-day moving average of $49.80.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.09. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The firm had revenue of $290.39 million for the quarter, compared to analyst estimates of $276.76 million. During the same period in the previous year, the business earned $0.84 EPS. The company’s revenue was down 5.0% compared to the same quarter last year. As a group, equities research analysts forecast that Cactus will post 2.89 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 26th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, August 26th. This is a boost from Cactus’s previous quarterly dividend of $0.12. Cactus’s dividend payout ratio (DPR) is currently 19.12%.

Insider Activity at Cactus

In other Cactus news, President Joel Bender sold 201,585 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.03, for a total transaction of $10,488,467.55. Following the completion of the sale, the president now directly owns 555,001 shares in the company, valued at $28,876,702.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP William D. Marsh sold 2,059 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Joel Bender sold 201,585 shares of Cactus stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $52.03, for a total transaction of $10,488,467.55. Following the completion of the sale, the president now owns 555,001 shares of the company’s stock, valued at approximately $28,876,702.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 602,059 shares of company stock worth $30,948,949. Insiders own 17.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP boosted its stake in shares of Cactus by 595.4% in the fourth quarter. First Trust Advisors LP now owns 683,051 shares of the company’s stock valued at $31,011,000 after buying an additional 584,831 shares during the period. Public Employees Retirement Association of Colorado lifted its position in shares of Cactus by 3,350.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 513,417 shares of the company’s stock valued at $23,309,000 after acquiring an additional 498,536 shares during the period. Norges Bank acquired a new stake in shares of Cactus during the 4th quarter worth $20,204,000. Wasatch Advisors LP grew its holdings in shares of Cactus by 39.1% during the 1st quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock worth $66,921,000 after purchasing an additional 375,829 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Cactus by 3,604.5% in the second quarter. Principal Financial Group Inc. now owns 326,518 shares of the company’s stock valued at $17,221,000 after purchasing an additional 317,704 shares in the last quarter. Institutional investors and hedge funds 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.