Bank of America Increases Cactus (NYSE:WHD) Price Target to $43.00

Cactus (NYSE:WHD) had its price target lifted by Bank of America from $40.00 to $43.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an underperform rating on the stock.

A number of other research analysts also recently weighed in on the company. Benchmark downgraded Cactus from a buy rating to a hold rating in a report on Tuesday, January 16th. Stifel Nicolaus lowered their price target on Cactus from $68.00 to $60.00 and set a buy rating on the stock in a report on Wednesday, January 3rd. One equities 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 company. Based on data from MarketBeat.com, Cactus has an average rating of Hold and an average target price of $55.29.

Cactus Stock Down 1.1 %

Shares of Cactus stock opened at $49.40 on Monday. The stock’s fifty day moving average is $47.68 and its 200-day moving average is $45.44. The firm has a market capitalization of $3.92 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 8.53 and a beta of 1.96. The company has a quick ratio of 2.00, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. Cactus has a 12-month low of $31.36 and a 12-month high of $57.00.

Cactus (NYSE:WHD) last announced its earnings results on Thursday, February 29th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The company had revenue of $274.87 million for the quarter, compared to analyst estimates of $268.56 million. Cactus had a return on equity of 22.69% and a net margin of 15.42%. Cactus’s revenue for the quarter was up 46.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 earnings per share. Equities analysts anticipate that Cactus will post 3.04 earnings per share for the current year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, February 26th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.97%. Cactus’s dividend payout ratio is currently 18.82%.

Insiders Place Their Bets

In other Cactus news, CEO Scott Bender sold 78,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was 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 of the company’s stock, valued at $915.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP William D. Marsh sold 1,700 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $46.20, for a total transaction of $78,540.00. Following the completion of the transaction, the executive vice president now owns 3,911 shares of the company’s stock, valued at approximately $180,688.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Bender sold 78,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $45.79, for a total value of $3,571,620.00. Following the transaction, the chief executive officer now directly 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.

Hedge Funds Weigh In On Cactus

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Cactus by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 6,518,664 shares of the company’s stock worth $295,947,000 after purchasing an additional 148,355 shares during the last quarter. BlackRock Inc. lifted its position in shares of Cactus by 5.6% during the 2nd quarter. BlackRock Inc. now owns 4,577,187 shares of the company’s stock worth $193,707,000 after purchasing an additional 244,164 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Cactus by 4.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,378,095 shares of the company’s stock worth $119,404,000 after purchasing an additional 108,905 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Cactus by 0.4% during the 1st quarter. Clearbridge Investments LLC now owns 2,000,859 shares of the company’s stock worth $113,529,000 after purchasing an additional 7,096 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its position in shares of Cactus by 1.4% during the 4th quarter. Boston Trust Walden Corp now owns 1,941,115 shares of the company’s stock worth $88,127,000 after purchasing an additional 26,185 shares during the last quarter. Institutional investors and hedge funds 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.