Cactus (NYSE:WHD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cactus (NYSE:WHD) from a hold rating to a buy rating in a report released on Saturday.

Several other equities research analysts also recently issued reports on the stock. 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. Weiss Ratings upgraded shares of Cactus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Barclays raised their price objective on Cactus from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Piper Sandler boosted their target price on shares of Cactus from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Finally, Citigroup boosted their price target on Cactus from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Cactus has an average rating of “Moderate Buy” and an average target price of $65.20.

Cactus Stock Performance

Shares of WHD opened at $70.85 on Friday. The firm has a fifty day simple moving average of $56.41 and a 200 day simple moving average of $54.95. The company has a current ratio of 2.59, a quick ratio of 1.81 and a debt-to-equity ratio of 0.01. Cactus has a 12 month low of $33.20 and a 12 month high of $71.09. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 60.56, a PEG ratio of 2.43 and a beta of 1.36.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.29. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The company had revenue of $449.53 million during the quarter, compared to the consensus estimate of $400.82 million. During the same period in the prior year, the business posted $0.66 EPS. The company’s quarterly revenue was up 64.3% on a year-over-year basis. Research analysts forecast that Cactus will post 3.07 EPS for the current fiscal year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. This is a boost from Cactus’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, August 31st. Cactus’s dividend payout ratio is currently 47.86%.

Insiders Place Their Bets

In other Cactus news, CEO Stephen Tadlock sold 38,455 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $63.80, for a total transaction of $2,453,429.00. Following the transaction, the chief executive officer directly owned 43,178 shares in the company, valued at approximately $2,754,756.40. This represents a 47.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Bender sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $63.89, for a total transaction of $6,389,000.00. Following the sale, the chief executive officer directly owned 120,527 shares of the company’s stock, valued at approximately $7,700,470.03. This trade represents a 45.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 263,455 shares of company stock valued at $16,261,764. 12.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd increased its stake in Cactus by 73.4% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after purchasing an additional 314 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Cactus during the 3rd quarter worth about $33,000. Advisors Asset Management Inc. boosted its position in shares of Cactus by 113.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after purchasing an additional 543 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of Cactus in the 2nd quarter valued at about $58,000. Finally, Global Retirement Partners LLC grew its stake in shares of Cactus by 39,200.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,179 shares of the company’s stock valued at $54,000 after buying an additional 1,176 shares during the period. 85.11% of the stock is owned by institutional investors.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.