Analysts Set Cactus, Inc. (NYSE:WHD) Target Price at $64.40

Shares of Cactus, Inc. (NYSE:WHD) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $65.20.

WHD has been the subject of several research reports. Wall Street Zen upgraded Cactus from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings upgraded Cactus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Piper Sandler lifted their target price on Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Stifel Nicolaus upped their price target on Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Citigroup increased their price target on Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, June 18th.

Insider Activity

In other news, CEO Scott Bender sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $63.89, for a total value of $6,389,000.00. Following the transaction, the chief executive officer owned 120,527 shares in the company, valued at $7,700,470.03. The trade was a 45.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Alan Semple sold 10,206 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total value of $577,863.72. Following the completion of the transaction, the director directly owned 29,444 shares of the company’s stock, valued at approximately $1,667,119.28. This represents a 25.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 260,661 shares of company stock worth $15,827,218. Corporate insiders own 12.91% of the company’s stock.

Institutional Investors Weigh In On Cactus

A number of hedge funds have recently made changes to their positions in WHD. Advisors Asset Management Inc. raised its position in Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after acquiring an additional 543 shares during the period. AQR Capital Management LLC increased its stake 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 worth $524,000 after purchasing an additional 5,745 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 worth $1,819,000 after purchasing an additional 1,733 shares during the period. United Services Automobile Association bought a new stake in shares of Cactus in the 1st quarter worth approximately $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Cactus by 26.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company’s stock valued at $10,400,000 after purchasing an additional 46,835 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors.

Cactus Trading Down 1.0%

Shares of WHD stock opened at $67.87 on Friday. Cactus has a fifty-two week low of $33.20 and a fifty-two week high of $68.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.59. The stock has a 50 day simple moving average of $56.15 and a two-hundred day simple moving average of $54.81. The company has a market cap of $5.44 billion, a P/E ratio of 58.01, a PEG ratio of 2.46 and a beta of 1.36.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.29. The firm had revenue of $449.53 million for the quarter, compared to analysts’ expectations of $400.82 million. Cactus had a return on equity of 16.66% and a net margin of 6.01%.The company’s revenue for the quarter was up 64.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. Research analysts forecast that Cactus will post 3.07 earnings per share for the current year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 31st will be paid a $0.15 dividend. This is a positive change from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, August 31st. This represents a $0.60 annualized dividend and a yield of 0.9%. Cactus’s dividend payout ratio (DPR) is 47.86%.

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.