Cactus (NYSE:WHD) Price Target Raised to $56.00

Cactus (NYSE:WHD) had its target price lifted by Barclays from $55.00 to $56.00 in a research note released on Monday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently commented on WHD. Benchmark reissued a hold rating on shares of Cactus in a research report on Monday. Bank of America boosted their target price on shares of Cactus from $40.00 to $43.00 and gave the stock an underperform rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Cactus has an average rating of Hold and an average target price of $55.14.

Cactus Trading Down 1.8 %

Shares of WHD stock opened at $50.56 on Monday. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 9.11 and a beta of 1.95. The company has a quick ratio of 2.17, a current ratio of 3.24 and a debt-to-equity ratio of 0.01. Cactus has a fifty-two week low of $31.36 and a fifty-two week high of $57.00. The firm’s 50 day moving average price is $49.54 and its two-hundred day moving average price is $45.59.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, beating 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 firm had revenue of $274.12 million for the quarter, compared to analysts’ expectations of $270.70 million. During the same period in the previous year, the company posted $0.64 earnings per share. Cactus’s revenue was up 20.0% compared to the same quarter last year. On average, analysts anticipate that Cactus will post 2.87 EPS for the current year.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Tuesday, May 28th will be paid a $0.12 dividend. The ex-dividend date is Friday, May 24th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.95%. Cactus’s dividend payout ratio (DPR) is presently 19.12%.

Insider Buying and Selling

In related news, CEO Scott Bender sold 78,000 shares of Cactus stock in a transaction on Monday, March 4th. The shares were sold at an average price of $45.79, for a total value of $3,571,620.00. Following the completion of the sale, the chief executive officer now owns 20 shares in the company, valued at $915.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Cactus news, EVP William D. Marsh sold 1,700 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $46.20, for a total transaction of $78,540.00. Following the completion of the sale, the executive vice president now owns 3,911 shares in the company, valued at $180,688.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott Bender sold 78,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $915.80. The disclosure for this sale can be found here. Insiders own 16.84% of the company’s stock.

Institutional Trading of Cactus

Institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its stake in Cactus by 198.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 208,010 shares of the company’s stock valued at $9,444,000 after purchasing an additional 138,294 shares during the last quarter. Boston Trust Walden Corp grew its position in shares of Cactus by 1.4% during the fourth quarter. Boston Trust Walden Corp now owns 1,941,115 shares of the company’s stock worth $88,127,000 after acquiring an additional 26,185 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Cactus by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 572,530 shares of the company’s stock worth $28,747,000 after acquiring an additional 18,673 shares during the last quarter. FMR LLC grew its position in shares of Cactus by 181.5% during the third quarter. FMR LLC now owns 1,898,398 shares of the company’s stock worth $95,319,000 after acquiring an additional 1,224,079 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Cactus by 13.5% during the third quarter. Tower Research Capital LLC TRC now owns 8,979 shares of the company’s stock worth $451,000 after acquiring an additional 1,071 shares during the last quarter. 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.