Cactus (NYSE:WHD) Given New $56.00 Price Target at Barclays

Cactus (NYSE:WHD - Free Report) had its target price increased by Barclays from $55.00 to $56.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on WHD. Benchmark reissued a hold rating on shares of Cactus in a research note on Monday. Bank of America increased their price target on shares of Cactus from $40.00 to $43.00 and gave the stock an underperform rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $55.14.

Cactus Trading Up 2.1 %

Shares of NYSE:WHD traded up $1.04 during midday trading on Monday, hitting $51.69. 404,941 shares of the stock traded hands, compared to its average volume of 601,432. The stock has a market capitalization of $4.10 billion, a PE ratio of 20.59, a P/E/G ratio of 9.11 and a beta of 1.95. The business's 50 day moving average is $49.20 and its two-hundred day moving average is $45.55. The company has a quick ratio of 2.17, a current ratio of 3.24 and a debt-to-equity ratio of 0.01. Cactus has a one year low of $31.36 and a one year high of $57.00.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The firm had revenue of $274.12 million during the quarter, compared to the consensus estimate of $270.70 million. Cactus had a net margin of 14.46% and a return on equity of 22.46%. The company's quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 earnings per share. As a group, research analysts forecast that Cactus will post 2.87 earnings per share for the current year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 28th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, May 24th. Cactus's dividend payout ratio (DPR) is presently 19.12%.

Insiders Place Their Bets

In other Cactus news, EVP William D. Marsh sold 1,700 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $46.20, for a total value of $78,540.00. Following the sale, the executive vice president now owns 3,911 shares in the company, valued at $180,688.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Scott Bender sold 78,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $45.79, for a total transaction of $3,571,620.00. Following the sale, the chief executive officer now owns 20 shares in the company, valued at $915.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP William D. Marsh sold 1,700 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $46.20, for a total transaction of $78,540.00. Following the sale, the executive vice president now owns 3,911 shares in the company, valued at approximately $180,688.20. The disclosure for this sale can be found here. Corporate insiders own 16.84% of the company's stock.

Institutional Investors Weigh In On Cactus

A number of institutional investors have recently made changes to their positions in WHD. Principal Securities Inc. bought a new position in Cactus during the fourth quarter valued at approximately $30,000. GAMMA Investing LLC bought a new position in Cactus during the fourth quarter valued at approximately $33,000. NBC Securities Inc. bought a new position in Cactus during the third quarter valued at approximately $36,000. Signaturefd LLC lifted its position in Cactus by 164.5% during the third quarter. Signaturefd LLC now owns 857 shares of the company's stock valued at $43,000 after purchasing an additional 533 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in Cactus during the third quarter valued at approximately $70,000. Hedge funds and other institutional investors 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.