Cactus (NYSE:WHD) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Cactus (NYSE:WHD) from a buy rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

WHD has been the topic of several other reports. Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a report on Tuesday, September 8th. Barclays upped their target price on shares of Cactus from $74.00 to $75.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Stifel Nicolaus increased their target price on shares of Cactus from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Piper Sandler lifted their price target 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 reduced their price target on shares of Cactus from $75.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cactus currently has an average rating of “Moderate Buy” and a consensus target price of $73.25.

Cactus Price Performance

WHD stock opened at $62.16 on Friday. The business has a fifty day moving average of $65.75 and a two-hundred day moving average of $58.39. 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 $4.98 billion, a price-to-earnings ratio of 43.17, a price-to-earnings-growth ratio of 1.71 and a beta of 1.42. Cactus has a 52-week low of $39.16 and a 52-week high of $74.07.

Cactus (NYSE:WHD) last posted its earnings results on Wednesday, October 28th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.19. Cactus had a return on equity of 18.24% and a net margin of 6.69%. The company had revenue of $430.89 million for the quarter, compared to the consensus estimate of $437.94 million. During the same quarter in the previous year, the business earned $0.67 earnings per share. The company’s revenue for the quarter was up 63.2% on a year-over-year basis. As a group, research analysts anticipate that Cactus will post 3.13 earnings per share for the current year.

Cactus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Monday, November 30th will be issued a $0.15 dividend. The ex-dividend date is Monday, November 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. Cactus’s payout ratio is 41.67%.

Insider Activity at Cactus

In related news, President Joel Bender sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $70.37, for a total transaction of $7,037,000.00. Following the sale, the president directly owned 41,519 shares of the company’s stock, valued at $2,921,692.03. This represents a 70.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Steven Bender sold 25,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $67.65, for a total transaction of $1,691,250.00. Following the sale, the chief executive officer owned 99,241 shares in the company, valued at approximately $6,713,653.65. This trade represents a 20.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 225,000 shares of company stock worth $14,925,250. Corporate insiders own 12.91% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WHD. First Trust Advisors LP increased its holdings in Cactus by 13.7% during the 1st quarter. First Trust Advisors LP now owns 2,090,619 shares of the company’s stock worth $99,033,000 after purchasing an additional 251,283 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Cactus by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,821,142 shares of the company’s stock valued at $86,266,000 after buying an additional 53,576 shares during the period. Jennison Associates LLC grew its position in shares of Cactus by 202.3% during the first quarter. Jennison Associates LLC now owns 1,713,701 shares of the company’s stock worth $81,178,000 after buying an additional 1,146,766 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of Cactus during the first quarter worth about $36,262,000. Finally, Bank of America Corp DE increased its stake in shares of Cactus by 34.8% during the first quarter. Bank of America Corp DE now owns 659,889 shares of the company’s stock worth $31,259,000 after buying an additional 170,534 shares during the period. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

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 are designed to help operators manage pressure and control access to wells during drilling, completion and production activities.

The company’s offerings include wellhead systems, frac stacks, zipper manifolds and other pressure-control equipment. Cactus also provides field services, including equipment installation, maintenance and support, as well as rental services for selected products.