Analysts Set Cactus, Inc. (NYSE:WHD) PT at $66.80

Cactus, Inc. (NYSE:WHD) has earned a consensus rating of “Hold” from the seven analysts that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $66.80.

Several equities analysts have weighed in on WHD shares. Citigroup cut Cactus from a “buy” rating to a “neutral” rating and raised their price objective for the company from $67.00 to $75.00 in a research note on Thursday, August 20th. Barclays increased their target price on shares of Cactus from $70.00 to $74.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a research report on Tuesday, September 8th. Stifel Nicolaus boosted their price target on shares of Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Wall Street Zen upgraded Cactus from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th.

Cactus Stock Performance

NYSE WHD opened at $66.46 on Friday. The company has a fifty day simple moving average of $65.84 and a 200 day simple moving average of $57.96. Cactus has a 12-month low of $33.20 and a 12-month high of $74.07. The company has a current ratio of 2.59, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. The company has a market cap of $5.33 billion, a P/E ratio of 56.81, a PEG ratio of 2.38 and a beta of 1.37.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.29. The firm had revenue of $449.53 million for the quarter, compared to the consensus estimate of $400.82 million. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The business’s revenue was up 64.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 earnings per share. Sell-side analysts predict that Cactus will post 3.12 earnings per share for the current fiscal year.

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. This is an increase from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, August 31st. Cactus’s dividend payout ratio is 51.28%.

Insiders Place Their Bets

In related news, CEO Stephen Tadlock sold 38,455 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $63.80, for a total value of $2,453,429.00. Following the transaction, the chief executive officer directly owned 43,178 shares of the company’s stock, valued at approximately $2,754,756.40. The trade was a 47.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven Bender sold 25,000 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $67.65, for a total transaction of $1,691,250.00. Following the transaction, the chief executive officer owned 99,241 shares of the company’s stock, valued at approximately $6,713,653.65. The trade was a 20.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 363,455 shares of company stock worth $23,298,764 in the last ninety days. Company insiders own 12.91% of the company’s stock.

Institutional Investors Weigh In On Cactus

Hedge funds have recently modified their holdings of the stock. Capital International Investors increased its holdings in Cactus by 27.0% in the 4th quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock worth $107,062,000 after acquiring an additional 498,210 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Cactus by 13.7% in the first quarter. First Trust Advisors LP now owns 2,090,619 shares of the company’s stock worth $99,033,000 after purchasing an additional 251,283 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cactus by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 1,964,059 shares of the company’s stock valued at $89,729,000 after purchasing an additional 28,415 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Cactus by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,821,142 shares of the company’s stock valued at $86,266,000 after purchasing an additional 53,576 shares during the period. Finally, Jennison Associates LLC lifted its stake 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 valued at $81,178,000 after buying an additional 1,146,766 shares in the last quarter. Institutional investors own 85.11% of the company’s stock.

About Cactus

Cactus, Inc (NYSE: WHD) designs, manufactures, sells and rents wellhead and pressure-control equipment used in onshore oil and gas drilling and production. Its products include wellhead systems, frac stacks, valves and other equipment engineered to manage pressure and provide structural support during the completion and operation of oil and natural gas wells.

The company also provides field services, including installation, maintenance and technical support for its equipment. Through its spoolable technologies business, Cactus offers flexible pipe and related solutions used in oilfield and industrial applications.