Cactus, Inc. (NYSE:WHD) Receives $63.40 Consensus Target Price from Analysts

Shares of Cactus, Inc. (NYSE:WHD) have received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $63.40.

Several analysts have weighed in on the company. Barclays boosted their price objective on Cactus from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price target (up from $66.00) on shares of Cactus in a research report on Tuesday, June 16th. Piper Sandler lifted their price target on shares of Cactus from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Wall Street Zen downgraded shares of Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Citigroup increased their price objective on shares of Cactus from $65.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, June 18th.

Cactus Trading Down 0.4%

WHD stock opened at $53.55 on Tuesday. The company has a market cap of $4.29 billion, a P/E ratio of 50.52, a PEG ratio of 2.12 and a beta of 1.38. Cactus has a twelve month low of $33.20 and a twelve month high of $64.30. The company has a quick ratio of 1.71, a current ratio of 2.61 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $56.24 and a 200-day moving average of $53.60.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. The business had revenue of $388.35 million for the quarter, compared to analyst estimates of $380.42 million. Cactus had a return on equity of 15.43% and a net margin of 6.17%.The firm’s revenue for the quarter was up 38.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 earnings per share. As a group, equities research analysts expect that Cactus will post 2.87 EPS for the current year.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 1st were given a dividend of $0.14 per share. The ex-dividend date was Monday, June 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. Cactus’s payout ratio is presently 52.83%.

Insider Buying and Selling at Cactus

In other news, Director Alan Semple sold 10,206 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.62, for a total value of $577,863.72. Following the transaction, the director directly owned 29,444 shares in the company, valued at $1,667,119.28. This trade represents a 25.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Y. Mcgovern sold 12,000 shares of Cactus stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total value of $678,840.00. Following the sale, the director directly owned 15,990 shares of the company’s stock, valued at approximately $904,554.30. This trade represents a 42.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 12.91% of the company’s stock.

Hedge Funds Weigh In On Cactus

Hedge funds have recently added to or reduced their stakes in the stock. Paradice Investment Management LLC boosted its stake in Cactus by 16.1% during the 4th quarter. Paradice Investment Management LLC now owns 675,932 shares of the company’s stock worth $30,877,000 after acquiring an additional 93,714 shares during the last quarter. VELA Investment Management LLC increased its stake in Cactus by 24.2% in the fourth quarter. VELA Investment Management LLC now owns 146,042 shares of the company’s stock valued at $6,671,000 after purchasing an additional 28,493 shares in the last quarter. UBS Group AG increased its stake in Cactus by 81.8% in the fourth quarter. UBS Group AG now owns 380,513 shares of the company’s stock valued at $17,382,000 after purchasing an additional 171,223 shares in the last quarter. Vest Financial LLC raised its holdings in Cactus by 24.7% in the fourth quarter. Vest Financial LLC now owns 134,568 shares of the company’s stock worth $6,147,000 after purchasing an additional 26,669 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Cactus in the fourth quarter worth $2,053,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.