Cactus, Inc. (NYSE:WHD) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Cactus, Inc. (NYSE:WHD) have received an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $56.3333.

A number of brokerages recently commented on WHD. Wall Street Zen cut Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Barclays boosted their target price on Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Piper Sandler assumed coverage on shares of Cactus in a research report on Tuesday, February 24th. They issued an “overweight” rating and a $73.00 price target on the stock. Citigroup lifted their price objective on shares of Cactus from $55.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a report on Friday, March 27th.

Cactus Price Performance

Shares of Cactus stock opened at $47.78 on Friday. Cactus has a fifty-two week low of $33.20 and a fifty-two week high of $59.25. The company has a market cap of $3.82 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 4.65 and a beta of 1.31. The firm has a fifty day moving average price of $52.54 and a two-hundred day moving average price of $46.51. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.81 and a quick ratio of 4.13.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.07. The company had revenue of $261.20 million for the quarter, compared to analyst estimates of $250.60 million. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The company’s revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. Analysts expect that Cactus will post 3.08 EPS for the current year.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Monday, March 2nd. Cactus’s dividend payout ratio is 23.33%.

Insider Activity

In other news, President Joel Bender sold 106,809 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $49.92, for a total transaction of $5,331,905.28. Following the completion of the transaction, the president directly owned 27,793 shares of the company’s stock, valued at $1,387,426.56. This trade represents a 79.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 200,000 shares of company stock worth $10,039,080 in the last ninety days. 13.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. lifted its stake in shares of Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after buying an additional 543 shares during the last quarter. AQR Capital Management LLC grew its stake in Cactus by 101.1% in the 1st quarter. AQR Capital Management LLC now owns 11,427 shares of the company’s stock valued at $524,000 after buying an additional 5,745 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Cactus by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,685 shares of the company’s stock valued at $1,819,000 after buying an additional 1,733 shares during the last quarter. United Services Automobile Association bought a new position in Cactus in the 1st quarter valued at about $203,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Cactus by 26.0% in the 1st 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 acquiring an additional 46,835 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

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.