Cactus, Inc. (NYSE:WHD) Stock Has Average Price Target of $66.80 According to Analysts

Shares of Cactus, Inc. (NYSE:WHD) have earned a consensus rating of “Hold” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $66.80.

A number of brokerages have commented on WHD. Citigroup lowered Cactus from a “buy” rating to a “neutral” rating and upped their price objective for the company from $67.00 to $75.00 in a report on Thursday, August 20th. Wall Street Zen raised Cactus from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Stifel Nicolaus boosted their target price on shares of Cactus from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a research note on Tuesday, September 8th. Finally, Barclays raised their price target on shares of Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd.

Insider Buying and Selling at Cactus

In other news, 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 value of $7,037,000.00. Following the completion of the sale, the president directly owned 41,519 shares in the company, valued at approximately $2,921,692.03. The trade was a 70.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Stephen Tadlock sold 38,455 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $63.80, for a total value of $2,453,429.00. Following the completion of the sale, the chief executive officer owned 43,178 shares of the company’s stock, valued at approximately $2,754,756.40. This trade represents a 47.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 363,455 shares of company stock worth $23,298,764. 12.91% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cactus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WHD. Jennison Associates LLC lifted its position in shares of Cactus by 202.3% during the 1st quarter. Jennison Associates LLC now owns 1,713,701 shares of the company’s stock valued at $81,178,000 after acquiring an additional 1,146,766 shares during the period. Deprince Race & Zollo Inc. bought a new position in shares of Cactus in the first quarter worth $41,895,000. Encompass Capital Advisors LLC bought a new position in shares of Cactus in the first quarter worth $36,262,000. Wasatch Advisors LP raised its stake in Cactus by 79.0% in the first quarter. Wasatch Advisors LP now owns 1,349,420 shares of the company’s stock valued at $63,922,000 after purchasing an additional 595,562 shares in the last quarter. Finally, Capital International Investors raised its stake in Cactus by 27.0% in the fourth quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock valued at $107,062,000 after purchasing an additional 498,210 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

Cactus Trading Down 1.3%

Shares of NYSE:WHD opened at $64.36 on Friday. Cactus has a 12-month low of $33.20 and a 12-month high of $74.07. The business has a 50 day moving average of $66.53 and a 200-day moving average of $58.22. The company has a quick ratio of 1.81, a current ratio of 2.59 and a debt-to-equity ratio of 0.01. The stock has a market cap of $5.16 billion, a PE ratio of 55.01, a P/E/G ratio of 2.27 and a beta of 1.37.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.29. The company had revenue of $449.53 million for the quarter, compared to analyst estimates of $400.82 million. Cactus had a return on equity of 16.66% and a net margin of 6.01%.The firm’s quarterly revenue was up 64.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 earnings per share. As a group, equities research analysts forecast that Cactus will post 3.12 earnings per share for the current year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, August 31st. This is a boost from Cactus’s previous quarterly dividend of $0.14. Cactus’s dividend payout ratio (DPR) is currently 51.28%.

Cactus Company Profile

Cactus, Inc (NYSE: WHD) designs, manufactures, sells and rents wellhead and pressure-control equipment used in onshore oil and gas drilling and production. Its products include wellhead systems, frac stacks, valves and other equipment engineered to manage pressure and provide structural support during the completion and operation of oil and natural gas wells.

The company also provides field services, including installation, maintenance and technical support for its equipment. Through its spoolable technologies business, Cactus offers flexible pipe and related solutions used in oilfield and industrial applications.