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

Shares of Cactus, Inc. (NYSE:WHD) have been assigned a consensus rating of “Hold” from the seven research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $56.40.

A number of brokerages recently issued reports on WHD. Bank of America lifted their price target on shares of Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research report on Monday, October 14th. Barclays cut Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target on the stock. in a research report on Monday, November 4th. Finally, Stifel Nicolaus cut their price target on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, October 11th.

Cactus Stock Up 1.4 %

WHD stock opened at $68.66 on Friday. Cactus has a fifty-two week low of $37.58 and a fifty-two week high of $70.01. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 3.19 and a beta of 1.95. The business’s 50 day moving average price is $63.09 and its two-hundred day moving average price is $58.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.04. The company had revenue of $293.18 million for the quarter, compared to analysts’ expectations of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 earnings per share. As a group, analysts forecast that Cactus will post 3.08 earnings per share for the current fiscal year.

Cactus Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s payout ratio is 18.44%.

Insider Buying and Selling

In other Cactus news, Director Bruce M. Rothstein sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $65.22, for a total value of $326,100.00. Following the completion of the transaction, the director now owns 12,177 shares of the company’s stock, valued at approximately $794,183.94. The trade was a 29.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen Tadlock sold 33,500 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the transaction, the chief executive officer now owns 36,357 shares in the company, valued at $2,230,501.95. This represents a 47.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 138,500 shares of company stock worth $8,916,325 in the last three months. Insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bridgewater Associates LP bought a new stake in Cactus in the 3rd quarter worth approximately $9,501,000. Rhumbline Advisers grew its holdings in shares of Cactus by 69.7% in the second quarter. Rhumbline Advisers now owns 206,982 shares of the company’s stock worth $10,916,000 after acquiring an additional 84,984 shares during the period. TD Asset Management Inc grew its holdings in shares of Cactus by 160.8% in the second quarter. TD Asset Management Inc now owns 38,600 shares of the company’s stock worth $2,036,000 after acquiring an additional 23,800 shares during the period. Amalgamated Bank increased its position in Cactus by 800.4% during the second quarter. Amalgamated Bank now owns 20,071 shares of the company’s stock valued at $1,059,000 after acquiring an additional 17,842 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in Cactus in the second quarter valued at about $122,623,000. Institutional investors 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.