Cactus (NYSE:WHD) PT Raised to $43.00 at Bank of America

Cactus (NYSE:WHD) had its target price hoisted by Bank of America from $40.00 to $43.00 in a report issued on Monday morning, Benzinga reports. Bank of America currently has an underperform rating on the stock.

A number of other equities research analysts have also weighed in on the company. Stifel Nicolaus lowered their price objective on Cactus from $68.00 to $60.00 and set a buy rating on the stock in a report on Wednesday, January 3rd. Benchmark lowered Cactus from a buy rating to a hold rating in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $55.29.

Cactus Stock Performance

NYSE WHD opened at $49.13 on Monday. The company has a quick ratio of 2.00, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. Cactus has a 52-week low of $31.36 and a 52-week high of $57.00. The business’s 50-day moving average price is $47.80 and its 200 day moving average price is $45.47. The firm has a market cap of $3.90 billion, a P/E ratio of 19.27, a P/E/G ratio of 8.98 and a beta of 1.96.

Cactus (NYSE:WHD) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. Cactus had a return on equity of 22.69% and a net margin of 15.42%. The firm had revenue of $274.87 million for the quarter, compared to analyst estimates of $268.56 million. During the same quarter last year, the company posted $0.57 earnings per share. The business’s revenue was up 46.4% on a year-over-year basis. On average, equities research analysts expect that Cactus will post 2.87 earnings per share for the current year.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, February 26th were given a dividend of $0.12 per share. The ex-dividend date was Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. Cactus’s payout ratio is 18.82%.

Insider Activity

In other news, EVP William D. Marsh sold 1,700 shares of Cactus stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $46.20, for a total transaction of $78,540.00. Following the completion of the sale, the executive vice president now directly owns 3,911 shares in the company, valued at approximately $180,688.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Scott Bender sold 78,000 shares of Cactus stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $45.79, for a total transaction of $3,571,620.00. Following the completion of the transaction, the chief executive officer now directly owns 20 shares in the company, valued at approximately $915.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William D. Marsh sold 1,700 shares of Cactus stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $46.20, for a total value of $78,540.00. Following the transaction, the executive vice president now owns 3,911 shares of the company’s stock, valued at $180,688.20. The disclosure for this sale can be found here. Insiders own 17.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its position in shares of Cactus by 59.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 678 shares of the company’s stock worth $26,000 after purchasing an additional 254 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in Cactus in the 1st quarter worth approximately $27,000. State of Wyoming purchased a new stake in Cactus in the 4th quarter worth approximately $28,000. Principal Securities Inc. purchased a new stake in Cactus in the 4th quarter worth approximately $30,000. Finally, NewEdge Advisors LLC grew its stake in Cactus by 886.7% in the 1st quarter. NewEdge Advisors LLC now owns 740 shares of the company’s stock worth $31,000 after acquiring an additional 665 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

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.