Cactus, Inc. (NYSE:WHD) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Cactus, Inc. (NYSE:WHD) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $74.75.

Several analysts have commented on the company. Piper Sandler upped their price objective on Cactus from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, November 3rd. Stifel Nicolaus lifted their target price on Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Citigroup lifted their target price on Cactus from $73.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, November 3rd. Wall Street Zen lowered Cactus from a “buy” rating to a “hold” rating in a report on Saturday, October 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a research note on Tuesday, September 8th.

Insider Buying and Selling at Cactus

In related news, President Joel Bender sold 100,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $70.37, for a total value of $7,037,000.00. Following the sale, the president directly owned 41,519 shares of the company’s stock, valued at approximately $2,921,692.03. This represents a 70.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Scott Bender sold 100,000 shares of Cactus stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $63.91, for a total value of $6,391,000.00. Following the transaction, the chief executive officer owned 120,527 shares of the company’s stock, valued at $7,702,880.57. This represents a 45.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 300,000 shares of company stock worth $19,625,000 over the last 90 days. Insiders own 12.91% of the company’s stock.

Institutional Trading of Cactus

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP grew its holdings in Cactus by 13.7% in the 1st quarter. First Trust Advisors LP now owns 2,090,619 shares of the company’s stock valued at $99,033,000 after buying an additional 251,283 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Cactus by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,821,142 shares of the company’s stock worth $86,266,000 after acquiring an additional 53,576 shares during the period. Jennison Associates LLC lifted its holdings in shares of Cactus by 202.3% during the 1st quarter. Jennison Associates LLC now owns 1,713,701 shares of the company’s stock worth $81,178,000 after acquiring an additional 1,146,766 shares during the period. Encompass Capital Advisors LLC purchased a new position in shares of Cactus during the 1st quarter worth about $36,262,000. Finally, Bank of America Corp DE boosted its position in shares of Cactus by 34.8% in the first quarter. Bank of America Corp DE now owns 659,889 shares of the company’s stock worth $31,259,000 after acquiring an additional 170,534 shares during the last quarter. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Trading Up 0.1%

NYSE WHD opened at $58.20 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.06 and a quick ratio of 2.10. The firm’s fifty day moving average price is $65.01 and its 200 day moving average price is $58.50. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 40.42, a price-to-earnings-growth ratio of 1.48 and a beta of 1.38. Cactus has a 12 month low of $39.16 and a 12 month high of $74.07.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.19. The firm had revenue of $430.89 million for the quarter, compared to the consensus estimate of $437.94 million. Cactus had a return on equity of 17.93% and a net margin of 6.69%. The firm’s quarterly revenue was up 63.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. On average, sell-side analysts expect that Cactus will post 3.22 earnings per share for the current fiscal year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Monday, November 30th will be paid a $0.15 dividend. The ex-dividend date is Monday, November 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. Cactus’s payout ratio is 41.67%.

Cactus Company Profile

Cactus, Inc designs, manufactures, sells and rents wellhead and pressure-control equipment used in oil and natural gas drilling and production. Its products include wellhead systems, frac trees and other equipment that help control pressure and manage the flow of fluids at the wellsite.

The company also provides field services, including equipment installation, maintenance and support. Through its Spoolable Technologies business, Cactus offers flexible, spoolable pipe products for energy and other industrial applications.

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