Cactus, Inc. (NYSE:WHD) Stock Has Consensus Target Price of $66.40

Shares of Cactus, Inc. (NYSE:WHD) have been given an average rating of “Hold” by the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $66.40.

A number of equities research analysts have recently weighed in on WHD shares. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a report on Tuesday, September 8th. Stifel Nicolaus boosted their target price on shares of Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Barclays upped their price target on shares of Cactus from $70.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Piper Sandler upped their price target on shares of Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen raised shares of Cactus from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th.

Cactus Stock Performance

NYSE:WHD opened at $62.23 on Thursday. The stock has a 50 day simple moving average of $67.84 and a 200 day simple moving average of $59.76. The stock has a market cap of $4.99 billion, a P/E ratio of 53.18, a PEG ratio of 1.71 and a beta of 1.42. Cactus has a 1-year low of $34.81 and a 1-year high of $74.07. The company has a current ratio of 2.59, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.29. Cactus had a return on equity of 16.66% and a net margin of 6.01%. The firm had revenue of $449.53 million for the quarter, compared to analyst estimates of $400.82 million. During the same period in the prior year, the firm posted $0.66 EPS. The company’s revenue for the quarter was up 64.3% on a year-over-year basis. Research analysts anticipate that Cactus will post 3.08 earnings per share for the current year.

Cactus Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. This is an increase from Cactus’s previous quarterly dividend of $0.14. Cactus’s payout ratio is presently 51.28%.

Insider Buying and Selling at Cactus

In other Cactus news, CEO Scott Bender sold 100,000 shares of Cactus stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $61.97, for a total value of $6,197,000.00. Following the completion of the transaction, the chief executive officer directly owned 120,527 shares of the company’s stock, valued at $7,469,058.19. The trade was a 45.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Stephen Tadlock sold 38,455 shares of Cactus stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $63.80, for a total value of $2,453,429.00. Following the completion of the transaction, the chief executive officer directly owned 43,178 shares of the company’s stock, valued at $2,754,756.40. This represents a 47.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 463,455 shares of company stock worth $29,495,764. 12.91% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cactus

Several institutional investors and hedge funds have recently bought and sold shares of WHD. Public Employees Retirement System of Ohio bought a new position in Cactus in the 2nd quarter valued at about $35,000. Harbor Investment Advisory LLC acquired a new position in shares of Cactus in the 2nd quarter valued at approximately $58,000. Parkside Financial Bank & Trust raised its position in shares of Cactus by 474.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,465 shares of the company’s stock valued at $75,000 after buying an additional 1,210 shares in the last quarter. GAMMA Investing LLC lifted its stake in Cactus by 29.5% during the second quarter. GAMMA Investing LLC now owns 2,532 shares of the company’s stock worth $130,000 after purchasing an additional 577 shares during the last quarter. Finally, Nykredit A S acquired a new position in shares of Cactus during the 2nd quarter worth $133,000. Institutional investors own 85.11% of the company’s stock.

About Cactus

Cactus, Inc is an oilfield equipment company that designs, manufactures, sells and rents wellhead and pressure control equipment for onshore oil and gas producers. Its products are used throughout the life cycle of a well, from drilling and completion to production and workover operations.

The company’s offerings include conventional and automated wellheads, production trees, frac stacks, zipper manifolds and other pressure control systems. Cactus also provides equipment installation, field service, maintenance, rental and monitoring services intended to help operators improve wellsite safety, efficiency and control.

Founded in 2011 and headquartered in Houston, Texas, Cactus primarily serves oil and gas customers in North America and select international markets.