Cactus, Inc. (NYSE:WHD) Receives Consensus Recommendation of “Hold” from Brokerages

Cactus, Inc. (NYSE:WHD) has earned an average rating of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $48.75.

Several analysts have recently issued reports on WHD shares. Stifel Nicolaus decreased 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. Bank of America upgraded shares of Cactus from an “underperform” rating to a “neutral” rating and upped their target price for the company from $39.00 to $40.00 in a research report on Wednesday. Wall Street Zen upgraded Cactus from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Zacks Research downgraded Cactus from a “hold” rating to a “strong sell” rating in a research report on Monday, September 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a report on Wednesday, October 8th.

Insider Buying and Selling at Cactus

In other news, EVP William D. Marsh sold 10,172 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $41.32, for a total value of $420,307.04. Following the sale, the executive vice president owned 11,088 shares of the company’s stock, valued at approximately $458,156.16. This 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. Corporate insiders own 13.75% of the company’s stock.

Institutional Trading of Cactus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WHD. Balyasny Asset Management L.P. purchased a new stake in Cactus in the 2nd quarter worth about $30,648,000. Millennium Management LLC purchased a new stake in shares of Cactus in the first quarter worth approximately $28,924,000. Encompass Capital Advisors LLC purchased a new stake in shares of Cactus in the first quarter worth approximately $27,457,000. Pacer Advisors Inc. raised its holdings in shares of Cactus by 10,002.6% in the first quarter. Pacer Advisors Inc. now owns 458,053 shares of the company’s stock worth $20,993,000 after buying an additional 453,519 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Cactus by 130.7% in the second quarter. Ameriprise Financial Inc. now owns 694,149 shares of the company’s stock worth $30,340,000 after purchasing an additional 393,260 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Stock Up 7.5%

Shares of WHD opened at $42.36 on Thursday. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 3.75 and a beta of 1.48. Cactus has a 1 year low of $33.20 and a 1 year high of $70.01. The business’s 50 day simple moving average is $39.50 and its 200-day simple moving average is $41.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.09. The company had revenue of $263.95 million for the quarter, compared to the consensus estimate of $253.89 million. Cactus had a net margin of 16.19% and a return on equity of 17.34%. Cactus’s revenue was down 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 earnings per share. As a group, equities analysts expect that Cactus will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Monday, December 1st will be paid a $0.14 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. Cactus’s dividend payout ratio is currently 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.