Cactus, Inc. (NYSE:WHD) Stock Has Consensus Target Price of $74.75

Cactus, Inc. (NYSE:WHD) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $74.75.

A number of equities research analysts recently weighed in on the company. Citigroup lifted their target price on Cactus from $73.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 3rd. Wall Street Zen lowered shares of Cactus from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Stifel Nicolaus raised their target price on shares of Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Barclays lifted their target price on Cactus from $74.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, October 15th. Finally, Piper Sandler raised their price target on Cactus from $75.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 3rd.

Insider Buying and Selling at Cactus

In related news, CEO Scott Bender sold 100,000 shares of Cactus stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $63.91, for a total value of $6,391,000.00. Following the sale, the chief executive officer owned 120,527 shares of the company’s stock, valued at approximately $7,702,880.57. The trade was a 45.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Joel Bender sold 100,000 shares of Cactus stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $70.37, for a total transaction of $7,037,000.00. Following the completion of the transaction, the president owned 41,519 shares of the company’s stock, valued at $2,921,692.03. This represents a 70.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 300,000 shares of company stock worth $19,625,000. Corporate insiders own 12.91% of the company’s stock.

Institutional Trading of Cactus

Several institutional investors and hedge funds have recently modified their holdings of the business. Group One Trading LLC bought a new position in Cactus in the third quarter valued at $27,000. Your Advocates Ltd. LLP bought a new stake in shares of Cactus in the 3rd quarter worth approximately $34,000. Public Employees Retirement System of Ohio bought a new position in shares of Cactus in the second quarter worth approximately $35,000. Signaturefd LLC lifted its stake in shares of Cactus by 56.8% in the 3rd quarter. Signaturefd LLC now owns 665 shares of the company’s stock worth $41,000 after purchasing an additional 241 shares during the period. Finally, Harbor Investment Advisory LLC bought a new stake in Cactus during the second quarter valued at about $58,000. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Price Performance

Shares of NYSE:WHD opened at $62.10 on Monday. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 43.13, a P/E/G ratio of 1.58 and a beta of 1.38. The business has a fifty day simple moving average of $64.03 and a 200 day simple moving average of $58.65. The company has a current ratio of 3.06, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. Cactus has a 1 year low of $39.16 and a 1 year high of $74.07.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.19. The business had revenue of $430.89 million during the quarter, compared to analyst estimates of $437.94 million. Cactus had a net margin of 6.69% and a return on equity of 17.93%. Cactus’s quarterly revenue was up 63.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 EPS. As a group, sell-side analysts predict that Cactus will post 3.22 earnings per share for the current fiscal year.

Cactus Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Monday, November 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, November 30th. Cactus’s payout ratio is presently 41.67%.

Cactus Company Profile

Cactus, Inc. designs, manufactures, sells and rents wellhead and pressure-control equipment used in oil and natural gas drilling and production. Its products include wellhead systems, frac trees and other equipment that help control pressure and manage the flow of fluids at the wellsite. The company also provides field services, including equipment installation, maintenance and support. Through its Spoolable Technologies business, Cactus offers flexible, spoolable pipe products for energy and other industrial applications.