Analysts Set Cactus, Inc. (NYSE:WHD) PT at $50.75

Key Points

• Cactus, Inc. has received a consensus recommendation of "Hold" from analysts, with a 12-month price target averaging $50.75.
• Insider William D. Marsh sold 10,172 shares of Cactus stock, reducing his position by nearly 48%.
• The company announced a quarterly dividend increase, paying $0.14 per share, representing an annual yield of 1.4%.

Shares of Cactus, Inc. (NYSE:WHD - Get Free Report) have received an average recommendation of "Hold" from the five research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $50.75.

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Barclays reaffirmed an "overweight" rating and set a $52.00 target price (down from $53.00) on shares of Cactus in a research report on Monday, August 4th. Wall Street Zen raised shares of Cactus from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Zacks Research lowered shares of Cactus from a "hold" rating to a "strong sell" rating in a research report on Monday, September 8th. Finally, Stifel Nicolaus reduced their target price on shares of Cactus from $57.00 to $53.00 and set a "buy" rating on the stock in a research report on Friday, August 1st.

Insider Activity at Cactus

In other news, EVP William D. Marsh sold 10,172 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 11,088 shares of the company's stock, valued at approximately $458,156.16. This trade represents a 47.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 16.84% of the company's stock.

Hedge Funds Weigh In On Cactus

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. boosted its stake in shares of Cactus by 4,927.3% during the second quarter. Osaic Holdings Inc. now owns 19,858 shares of the company's stock valued at $868,000 after purchasing an additional 19,463 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Cactus by 1.7% during the second quarter. Thrivent Financial for Lutherans now owns 81,233 shares of the company's stock valued at $3,551,000 after purchasing an additional 1,380 shares in the last quarter. Cim LLC bought a new position in shares of Cactus during the second quarter valued at approximately $218,000. Public Sector Pension Investment Board boosted its stake in shares of Cactus by 10.4% during the second quarter. Public Sector Pension Investment Board now owns 233,365 shares of the company's stock valued at $10,203,000 after purchasing an additional 22,002 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of Cactus by 0.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company's stock valued at $2,532,000 after purchasing an additional 269 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors.

Cactus Trading Up 0.7%

Cactus stock traded up $0.28 during midday trading on Wednesday, reaching $40.24. The stock had a trading volume of 336,074 shares, compared to its average volume of 711,807. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. Cactus has a 52-week low of $33.80 and a 52-week high of $70.01. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 3.77 and a beta of 1.53. The company has a fifty day moving average of $42.29 and a 200 day moving average of $42.73.

Cactus (NYSE:WHD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.01). Cactus had a return on equity of 17.34% and a net margin of 16.19%.The firm had revenue of $273.58 million during the quarter, compared to analysts' expectations of $280.28 million. During the same period last year, the company earned $0.81 earnings per share. The business's revenue for the quarter was down 5.8% compared to the same quarter last year. On average, analysts anticipate that Cactus will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 29th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Cactus's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, August 29th. Cactus's dividend payout ratio is 21.13%.

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.