Cactus (NYSE:WHD) Price Target Raised to $43.00

Cactus (NYSE:WHD) had its target price boosted by Bank of America from $40.00 to $43.00 in a report released on Monday, Benzinga reports. The firm currently has an underperform rating on the stock.

Other research analysts have also recently issued research reports about the company. Benchmark cut Cactus from a buy rating to a hold rating in a research report on Tuesday, January 16th. Stifel Nicolaus lowered their target price on Cactus from $68.00 to $60.00 and set a buy rating on the stock in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Cactus currently has a consensus rating of Hold and a consensus target price of $55.29.

Cactus Trading Down 1.1 %

NYSE:WHD opened at $49.40 on Monday. The stock has a fifty day moving average price of $47.68 and a two-hundred day moving average price of $45.44. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 8.53 and a beta of 1.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.00 and a current ratio of 3.17. Cactus has a 1 year low of $31.36 and a 1 year high of $57.00.

Cactus (NYSE:WHD) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.13. The firm had revenue of $274.87 million during the quarter, compared to analysts’ expectations of $268.56 million. Cactus had a return on equity of 22.69% and a net margin of 15.42%. Cactus’s revenue was up 46.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share. As a group, sell-side analysts anticipate that Cactus will post 3.04 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, February 26th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, February 23rd. Cactus’s dividend payout ratio (DPR) is 18.82%.

Insider Activity at Cactus

In related news, CEO Scott Bender sold 78,000 shares of the stock in a transaction on Monday, March 4th. The stock was 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 of the company’s stock, valued at $915.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Scott Bender sold 78,000 shares of the stock in a transaction on Monday, March 4th. The stock was 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 of the company’s stock, valued at $915.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP William D. Marsh sold 1,700 shares of the stock in a transaction on 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 directly 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 Trading of Cactus

Hedge funds have recently added to or reduced their stakes in the business. State of Wyoming acquired a new stake in Cactus in the 4th quarter worth about $28,000. Belpointe Asset Management LLC purchased a new position in shares of Cactus in the 1st quarter worth about $27,000. Principal Securities Inc. purchased a new position in shares of Cactus in the 4th quarter worth about $30,000. Public Employees Retirement System of Ohio raised its holdings in shares of Cactus by 59.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 678 shares of the company’s stock worth $26,000 after purchasing an additional 254 shares during the period. Finally, NBC Securities Inc. purchased a new position in shares of Cactus in the 3rd quarter worth about $36,000. 85.11% of the stock is owned by institutional investors and hedge funds.

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.