Cactus (NYSE:WHD) Price Target Raised to $52.00

Cactus (NYSE:WHD) had its target price upped by Citigroup from $48.00 to $52.00 in a research report report published on Wednesday, MarketBeat Ratings reports. They currently have a neutral rating on the stock.

Several other research analysts also recently weighed in on the stock. Barclays lifted their target price on shares of Cactus from $55.00 to $56.00 and gave the stock an overweight rating in a research report on Monday, May 6th. Johnson Rice cut shares of Cactus from a buy rating to an accumulate rating in a research note on Friday, May 31st. Benchmark reiterated a hold rating on shares of Cactus in a research note on Monday, May 6th. Finally, Bank of America upped their target price on shares of Cactus from $40.00 to $43.00 and gave the company an underperform rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cactus currently has an average rating of Hold and an average target price of $55.14.

Cactus Trading Up 2.9 %

Cactus stock opened at $55.66 on Wednesday. The company has a quick ratio of 2.17, a current ratio of 3.24 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $51.17 and a two-hundred day moving average price of $47.92. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.65 and a beta of 1.98. Cactus has a 52-week low of $37.58 and a 52-week high of $57.00.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Cactus had a net margin of 14.46% and a return on equity of 22.46%. The company had revenue of $274.12 million for the quarter, compared to the consensus estimate of $270.70 million. During the same period in the previous year, the firm earned $0.64 EPS. Cactus’s revenue was up 20.0% on a year-over-year basis. Sell-side analysts expect that Cactus will post 2.94 earnings per share for the current year.

Cactus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Tuesday, May 28th were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, May 28th. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. Cactus’s dividend payout ratio is currently 19.12%.

Insider Activity at Cactus

In related news, President Joel Bender sold 201,585 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $52.03, for a total value of $10,488,467.55. Following the completion of the transaction, the president now directly owns 555,001 shares of the company’s stock, valued at $28,876,702.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, President Joel Bender sold 201,585 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $52.03, for a total value of $10,488,467.55. Following the completion of the transaction, the president now owns 555,001 shares of the company’s stock, valued at $28,876,702.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP William D. Marsh sold 2,059 shares of Cactus stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $51.03, for a total value of $105,070.77. Following the completion of the transaction, the executive vice president now owns 1,852 shares in the company, valued at approximately $94,507.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 602,059 shares of company stock valued at $30,948,949. 17.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cactus

Several institutional investors have recently added to or reduced their stakes in WHD. Vanguard Group Inc. raised its position in shares of Cactus by 0.8% during the first quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company’s stock worth $329,182,000 after purchasing an additional 53,142 shares during the period. JPMorgan Chase & Co. grew its holdings in Cactus by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,378,095 shares of the company’s stock valued at $119,404,000 after buying an additional 108,905 shares in the last quarter. Boston Trust Walden Corp lifted its position in Cactus by 1.4% in the 4th quarter. Boston Trust Walden Corp now owns 1,941,115 shares of the company’s stock worth $88,127,000 after buying an additional 26,185 shares during the last quarter. Wasatch Advisors LP lifted its position in Cactus by 39.1% in the 1st quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock worth $66,921,000 after buying an additional 375,829 shares during the last quarter. Finally, Capital International Investors lifted its position in Cactus by 3.9% in the first quarter. Capital International Investors now owns 1,293,233 shares of the company’s stock valued at $64,778,000 after purchasing an additional 48,379 shares during the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

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.