Cactus, Inc. (NYSE:WHD) Receives Average Rating of “Hold” from Analysts

Cactus, Inc. (NYSE:WHD) has been assigned a consensus rating of “Hold” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $47.75.

Several research analysts recently commented on WHD shares. Wall Street Zen upgraded shares of Cactus from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cactus in a research report on Thursday, October 30th. 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. Zacks Research upgraded Cactus from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, Barclays lowered their target price on Cactus from $52.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, October 31st.

Insider Transactions at Cactus

In related news, EVP William D. Marsh sold 10,172 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total transaction of $420,307.04. Following the completion of the transaction, the executive vice president directly owned 11,088 shares in the company, valued at $458,156.16. This represents a 47.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 16.84% of the company’s stock.

Institutional Trading of Cactus

Several hedge funds and other institutional investors have recently bought and sold shares of WHD. Wellington Management Group LLP raised its position in shares of Cactus by 52.8% during the third quarter. Wellington Management Group LLP now owns 3,304,595 shares of the company’s stock valued at $130,432,000 after buying an additional 1,141,249 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in Cactus during the second quarter valued at about $30,648,000. Millennium Management LLC acquired a new position in Cactus in the 1st quarter valued at approximately $28,924,000. Encompass Capital Advisors LLC bought a new stake in shares of Cactus in the 1st quarter worth approximately $27,457,000. Finally, Capital Research Global Investors bought a new stake in shares of Cactus in the 3rd quarter worth approximately $19,563,000. 85.11% of the stock is currently owned by institutional investors and hedge funds.

Cactus Stock Performance

Shares of NYSE WHD opened at $41.28 on Monday. The business’s 50-day simple moving average is $39.74 and its 200-day simple moving average is $41.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.74 and a current ratio of 5.28. Cactus has a 52 week low of $33.20 and a 52 week high of $69.98. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 8.37 and a beta of 1.46.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $263.95 million during the quarter, compared to analysts’ expectations of $253.89 million. During the same quarter in the prior year, the business earned $0.74 earnings per share. The company’s revenue was down 10.0% on a year-over-year basis. As a group, equities research analysts expect that Cactus will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

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. The ex-dividend date is Monday, December 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. Cactus’s dividend payout ratio (DPR) is presently 22.31%.

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.