Barclays Boosts Cactus (NYSE:WHD) Price Target to $56.00

Cactus (NYSE:WHD) had its price target raised by Barclays from $55.00 to $56.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Benchmark restated a hold rating on shares of Cactus in a research note on Monday. Bank of America boosted their price target on Cactus from $40.00 to $43.00 and gave the stock an underperform rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Cactus currently has a consensus rating of Hold and a consensus price target of $55.14.

Cactus Trading Up 1.1 %

NYSE WHD opened at $51.11 on Monday. The firm has a market capitalization of $4.06 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 9.11 and a beta of 1.95. Cactus has a one year low of $31.36 and a one year high of $57.00. The company has a 50-day simple moving average of $49.65 and a 200-day simple moving average of $45.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.24.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $274.12 million during the quarter, compared to the consensus estimate of $270.70 million. Cactus had a return on equity of 22.46% and a net margin of 14.46%. Cactus’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, equities analysts forecast that Cactus will post 2.87 earnings per share for the current year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, May 24th. This represents a $0.48 annualized dividend and a yield of 0.94%. Cactus’s payout ratio is presently 19.12%.

Insiders Place Their Bets

In other news, CEO Scott Bender sold 78,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $45.79, for a total transaction of $3,571,620.00. Following the sale, the chief executive officer now owns 20 shares in the company, valued at $915.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP William D. Marsh sold 1,700 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $46.20, for a total value of $78,540.00. Following the transaction, the executive vice president now owns 3,911 shares in the company, valued at approximately $180,688.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Bender sold 78,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $45.79, for a total transaction of $3,571,620.00. Following the sale, the chief executive officer now owns 20 shares of the company’s stock, valued at $915.80. The disclosure for this sale can be found here. Insiders sold a total of 681,759 shares of company stock worth $34,599,109 over the last ninety days. 16.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cactus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Cactus by 27.5% in the first quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock worth $50,000 after acquiring an additional 217 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Cactus by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 18,375 shares of the company’s stock worth $923,000 after purchasing an additional 273 shares in the last quarter. Gilbert & Cook Inc. lifted its holdings in shares of Cactus by 2.6% during the 1st quarter. Gilbert & Cook Inc. now owns 14,016 shares of the company’s stock valued at $702,000 after buying an additional 352 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Cactus by 2.8% in the 3rd quarter. Los Angeles Capital Management LLC now owns 19,530 shares of the company’s stock valued at $981,000 after buying an additional 533 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in Cactus by 164.5% in the third quarter. Signaturefd LLC now owns 857 shares of the company’s stock worth $43,000 after buying an additional 533 shares during the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

About Cactus

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.