Cactus, Inc. (NYSE:WHD) Stock Has Consensus Price Target of $66.40 According to Analysts

Key Points

• Analysts maintain a “Hold” consensus on Cactus, with four hold ratings and three buys. The average 12-month price target is $66.40, modestly above the reported share price of $62.23.
• Cactus exceeded quarterly expectations, reporting adjusted EPS of $0.93 versus the $0.64 consensus and revenue of $449.53 million, up 64.3% year over year. The company also increased its quarterly dividend to $0.15, or $0.60 annually.
• Company insiders sold 463,455 shares worth approximately $29.5 million over the past 90 days, while institutional investors own 85.11% of the stock.

Shares of Cactus, Inc. (NYSE:WHD - Get Free Report) have earned an average recommendation of "Hold" from the seven analysts that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $66.40.

Several analysts have issued reports on WHD shares. Stifel Nicolaus lifted their price target on Cactus from $68.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Citigroup reduced their price objective on Cactus from $75.00 to $73.00 and set a "neutral" rating for the company in a research report on Wednesday, September 30th. Wall Street Zen upgraded Cactus from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Barclays increased their price objective on Cactus from $70.00 to $74.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Finally, Piper Sandler lifted their target price on Cactus from $72.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th.

Insider Buying and Selling

In other Cactus news, CEO Stephen Tadlock sold 38,455 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $63.80, for a total transaction of $2,453,429.00. Following the transaction, the chief executive officer owned 43,178 shares of the company's stock, valued at $2,754,756.40. The trade was a 47.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Bender sold 100,000 shares of the company's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $61.97, for a total value of $6,197,000.00. Following the sale, the chief executive officer owned 120,527 shares in the company, valued at approximately $7,469,058.19. This represents a 45.35% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 463,455 shares of company stock worth $29,495,764. Insiders own 12.91% of the company's stock.

Hedge Funds Weigh In On Cactus

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Cactus during the 2nd quarter worth about $35,000. Harbor Investment Advisory LLC bought a new position in Cactus in the 2nd quarter valued at about $58,000. Parkside Financial Bank & Trust raised its holdings in Cactus by 474.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,465 shares of the company's stock valued at $75,000 after acquiring an additional 1,210 shares during the period. GAMMA Investing LLC lifted its position in Cactus by 29.5% during the second quarter. GAMMA Investing LLC now owns 2,532 shares of the company's stock worth $130,000 after acquiring an additional 577 shares during the last quarter. Finally, Nykredit A S acquired a new stake in Cactus during the second quarter worth approximately $133,000. 85.11% of the stock is owned by institutional investors.

Cactus Price Performance

WHD opened at $62.23 on Thursday. The company has a fifty day moving average price of $67.84 and a two-hundred day moving average price of $59.76. The firm has a market capitalization of $4.99 billion, a PE ratio of 53.18, a P/E/G ratio of 1.71 and a beta of 1.42. Cactus has a 52 week low of $34.81 and a 52 week high of $74.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 2.59.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.29. The business had revenue of $449.53 million during the quarter, compared to analysts' expectations of $400.82 million. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The firm's quarterly revenue was up 64.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. As a group, analysts anticipate that Cactus will post 3.08 earnings per share for the current year.

Cactus Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 31st were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, August 31st. This is a positive change from Cactus's previous quarterly dividend of $0.14. Cactus's dividend payout ratio is 51.28%.

About Cactus

Cactus, Inc is an oilfield equipment company that designs, manufactures, sells and rents wellhead and pressure control equipment for onshore oil and gas producers. Its products are used throughout the life cycle of a well, from drilling and completion to production and workover operations.

The company's offerings include conventional and automated wellheads, production trees, frac stacks, zipper manifolds and other pressure control systems. Cactus also provides equipment installation, field service, maintenance, rental and monitoring services intended to help operators improve wellsite safety, efficiency and control.

Founded in 2011 and headquartered in Houston, Texas, Cactus primarily serves oil and gas customers in North America and select international markets.

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