Cactus, Inc. (NYSE:WHD) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of Cactus, Inc. (NYSE:WHD) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $66.80.

A number of brokerages have recently commented on WHD. Barclays upped their price objective on shares of Cactus from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Citigroup downgraded Cactus from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $67.00 to $75.00 in a research report on Thursday, August 20th. Stifel Nicolaus boosted their price target on Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a report on Tuesday, September 8th. Finally, Wall Street Zen upgraded Cactus from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th.

Cactus Price Performance

NYSE:WHD opened at $65.18 on Friday. The stock has a market cap of $5.23 billion, a P/E ratio of 55.71, a PEG ratio of 2.34 and a beta of 1.37. Cactus has a one year low of $33.20 and a one year high of $74.07. The company has a fifty day moving average price of $66.33 and a 200 day moving average price of $58.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.59 and a quick ratio of 1.81.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.29. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The firm had revenue of $449.53 million during the quarter, compared to the consensus estimate of $400.82 million. During the same period in the prior year, the firm earned $0.66 EPS. The business’s revenue was up 64.3% on a year-over-year basis. Analysts anticipate that Cactus will post 3.12 earnings per share for the current year.

Cactus Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were paid a $0.15 dividend. The ex-dividend date was Monday, August 31st. This is a positive change from Cactus’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. Cactus’s dividend payout ratio is currently 51.28%.

Insider Transactions at Cactus

In other Cactus news, CEO Scott Bender sold 100,000 shares of Cactus stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $63.89, for a total transaction of $6,389,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Stephen Tadlock sold 38,455 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $63.80, for a total transaction of $2,453,429.00. Following the completion of the sale, the chief executive officer directly owned 43,178 shares in the company, valued at $2,754,756.40. This trade represents a 47.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 363,455 shares of company stock valued at $23,298,764. Company insiders own 12.91% of the company’s stock.

Hedge Funds Weigh In On Cactus

A number of hedge funds and other institutional investors have recently made changes to their positions in WHD. Energy Income Partners LLC grew its holdings in shares of Cactus by 48.4% in the 1st quarter. Energy Income Partners LLC now owns 300,759 shares of the company’s stock worth $14,247,000 after purchasing an additional 98,124 shares during the last quarter. Morningstar Investment Management LLC acquired a new stake in shares of Cactus during the 1st quarter worth about $949,000. Deprince Race & Zollo Inc. bought a new position in Cactus during the 1st quarter valued at about $41,895,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its holdings in Cactus by 62.3% during the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 72,920 shares of the company’s stock valued at $3,454,000 after purchasing an additional 27,986 shares during the last quarter. Finally, Wasatch Advisors LP boosted its position in Cactus by 79.0% in the first quarter. Wasatch Advisors LP now owns 1,349,420 shares of the company’s stock valued at $63,922,000 after buying an additional 595,562 shares in the last quarter. 85.11% of the stock is owned by institutional investors.

About Cactus

Cactus, Inc (NYSE: WHD) designs, manufactures, sells and rents wellhead and pressure-control equipment used in onshore oil and gas drilling and production. Its products include wellhead systems, frac stacks, valves and other equipment engineered to manage pressure and provide structural support during the completion and operation of oil and natural gas wells.

The company also provides field services, including installation, maintenance and technical support for its equipment. Through its spoolable technologies business, Cactus offers flexible pipe and related solutions used in oilfield and industrial applications.