Cactus, Inc. (NYSE:WHD) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Cactus, Inc. (NYSE:WHD) has a consensus analyst rating of “Moderate Buy”, with four buy ratings and three hold ratings. The average 12-month price target is $62.60.
• The company recently reported better-than-expected quarterly results, earning $0.70 per share versus $0.65 expected and generating $388.35 million in revenue versus $380.42 million estimated. Revenue rose 38.5% year over year.
• Cactus also announced a quarterly dividend of $0.14 per share, payable on June 18, for an annualized yield of about 1.0%. The dividend payout ratio is currently 52.83%.

Cactus, Inc. (NYSE:WHD - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the seven analysts that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $62.60.

WHD has been the topic of several research analyst reports. Stifel Nicolaus increased their price target on shares of Cactus from $59.00 to $66.00 and gave the company a "buy" rating in a report on Wednesday, May 20th. Piper Sandler increased their target price on Cactus from $69.00 to $72.00 and gave the stock an "overweight" rating in a research note on Monday, May 18th. Citigroup increased their target price on Cactus from $63.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. Weiss Ratings cut Cactus from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, May 27th. Finally, Barclays increased their price objective on Cactus from $62.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th.

Insider Transactions at Cactus

In related news, Director Alan Semple sold 10,206 shares of the firm's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $56.62, for a total transaction of $577,863.72. Following the transaction, the director directly owned 29,444 shares of the company's stock, valued at approximately $1,667,119.28. This trade represents a 25.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Y. Mcgovern sold 12,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.57, for a total transaction of $678,840.00. Following the transaction, the director directly owned 15,990 shares in the company, valued at $904,554.30. This represents a 42.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 12.91% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in Cactus by 67.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company's stock worth $25,000 after acquiring an additional 259 shares during the period. Johnson Financial Group Inc. bought a new position in Cactus during the 3rd quarter worth $33,000. Aster Capital Management DIFC Ltd increased its stake in Cactus by 73.4% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company's stock worth $34,000 after acquiring an additional 314 shares during the period. Huntington National Bank increased its position in shares of Cactus by 55.4% in the third quarter. Huntington National Bank now owns 1,094 shares of the company's stock worth $43,000 after purchasing an additional 390 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of Cactus by 113.8% in the first quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock worth $47,000 after purchasing an additional 543 shares during the period. 85.11% of the stock is owned by institutional investors.

Cactus Price Performance

Shares of WHD opened at $58.73 on Friday. The firm has a market capitalization of $4.71 billion, a PE ratio of 55.40, a PEG ratio of 2.30 and a beta of 1.37. The company's 50-day moving average is $56.15 and its 200-day moving average is $52.28. Cactus has a fifty-two week low of $33.20 and a fifty-two week high of $64.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.61 and a quick ratio of 1.71.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. The firm had revenue of $388.35 million for the quarter, compared to analysts' expectations of $380.42 million. Cactus had a net margin of 6.17% and a return on equity of 15.43%. The business's revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. Equities analysts forecast that Cactus will post 2.85 EPS for the current year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Monday, June 1st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, June 1st. Cactus's dividend payout ratio (DPR) is currently 52.83%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.