Cactus (NYSE:WHD) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of Cactus (NYSE:WHD) from a buy rating to a hold rating in a report released on Saturday.

Several other research analysts have also weighed in on WHD. Piper Sandler initiated coverage on shares of Cactus in a research note on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price objective on the stock. Citigroup upped their target price on shares of Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a report on Monday, December 29th. Barclays lifted their price target on shares of Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Finally, Zacks Research lowered shares of Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.33.

Cactus Trading Up 1.3%

NYSE:WHD opened at $45.54 on Friday. Cactus has a 1-year low of $33.20 and a 1-year high of $59.25. The business’s 50-day moving average price is $53.50 and its two-hundred day moving average price is $46.15. The company has a current ratio of 5.81, a quick ratio of 4.13 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 4.51 and a beta of 1.25.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The firm had revenue of $261.20 million for the quarter, compared to analysts’ expectations of $250.60 million. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The company’s revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.71 earnings per share. On average, equities analysts expect that Cactus will post 3.08 earnings per share for the current year.

Cactus Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 2nd were given a $0.14 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. Cactus’s payout ratio is currently 23.33%.

Insider Activity

In related news, President Joel Bender sold 106,809 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $49.92, for a total transaction of $5,331,905.28. Following the completion of the sale, the president directly owned 27,793 shares of the company’s stock, valued at approximately $1,387,426.56. This represents a 79.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 200,000 shares of company stock valued at $10,039,080. 13.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Salomon & Ludwin LLC bought a new stake in shares of Cactus during the third quarter worth $25,000. EverSource Wealth Advisors LLC lifted its position in Cactus by 67.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $25,000 after acquiring an additional 259 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in Cactus in the 3rd quarter valued at $33,000. Aster Capital Management DIFC Ltd boosted its stake in Cactus by 73.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock worth $34,000 after purchasing an additional 314 shares during the period. Finally, Huntington National Bank boosted its stake in Cactus by 55.4% in the 3rd 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. Institutional investors and hedge funds own 85.11% of the company’s stock.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.