Analysts Set Cactus, Inc. (NYSE:WHD) Price Target at $48.75

Cactus, Inc. (NYSE:WHD) has received an average recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $47.75.

A number of analysts have issued reports on the company. Wall Street Zen raised Cactus from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Zacks Research raised Cactus from a “strong sell” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus lifted their price objective on Cactus from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cactus in a research note on Thursday, October 30th. Finally, Bank of America raised Cactus from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $39.00 to $40.00 in a research note on Wednesday, October 29th.

Cactus Stock Down 0.3%

Shares of WHD opened at $43.04 on Thursday. The business’s 50 day moving average is $39.74 and its 200 day moving average is $41.64. The company has a market capitalization of $3.44 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 8.92 and a beta of 1.46. Cactus has a 12-month low of $33.20 and a 12-month high of $70.01. The company has a current ratio of 5.28, a quick ratio of 3.74 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.09. Cactus had a return on equity of 16.02% and a net margin of 15.86%.The company had revenue of $263.95 million during the quarter, compared to analyst estimates of $253.89 million. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was down 10.0% on a year-over-year basis. Research analysts expect that Cactus will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Monday, December 1st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, December 1st. Cactus’s dividend payout ratio (DPR) is presently 22.31%.

Insider Activity

In other news, EVP William D. Marsh sold 10,172 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $41.32, for a total value of $420,307.04. Following the completion of the sale, the executive vice president directly owned 11,088 shares of the company’s stock, valued at $458,156.16. This trade represents a 47.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 13.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Cactus

Institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. grew its stake in shares of Cactus by 3.5% during the third quarter. Bessemer Group Inc. now owns 349,571 shares of the company’s stock valued at $13,798,000 after buying an additional 11,672 shares during the last quarter. AlphaQuest LLC grew its stake in shares of Cactus by 8.1% during the third quarter. AlphaQuest LLC now owns 15,368 shares of the company’s stock valued at $607,000 after buying an additional 1,145 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Cactus by 1.6% during the third quarter. Arizona State Retirement System now owns 20,258 shares of the company’s stock valued at $800,000 after buying an additional 321 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Cactus during the third quarter valued at approximately $337,000. Finally, Outlook Wealth Advisors LLC bought a new position in shares of Cactus during the third quarter valued at approximately $240,000. 85.11% of the stock is owned by institutional investors.

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.