Cactus (NYSE:WHD) Sets New 1-Year High – Still a Buy?

Cactus, Inc. (NYSE:WHD) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $66.51 and last traded at $66.14, with a volume of 2925 shares. The stock had previously closed at $62.17.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WHD shares. Barclays lowered Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target on the stock. in a research report on Monday. Piper Sandler reduced their price target on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus lowered their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Finally, Bank of America raised their target price on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.40.

Cactus Stock Performance

The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average is $60.12 and its two-hundred day moving average is $56.25. The stock has a market capitalization of $5.35 billion, a P/E ratio of 23.46, a P/E/G ratio of 3.29 and a beta of 1.95.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company had revenue of $293.18 million for the quarter, compared to analysts’ expectations of $287.47 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cactus, Inc. will post 3.07 EPS for the current fiscal year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Monday, December 2nd. Cactus’s dividend payout ratio is currently 18.44%.

Insider Transactions at Cactus

In other Cactus news, CEO Stephen Tadlock sold 33,500 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the completion of the transaction, the chief executive officer now directly owns 36,357 shares of the company’s stock, valued at approximately $2,230,501.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 17.72% of the company’s stock.

Institutional Investors Weigh In On Cactus

A number of institutional investors and hedge funds have recently modified their holdings of WHD. SG Americas Securities LLC acquired a new stake in Cactus during the 1st quarter worth about $115,000. Susquehanna Fundamental Investments LLC acquired a new position in Cactus in the 1st quarter worth approximately $1,423,000. Sei Investments Co. grew its position in Cactus by 13.2% during the 1st quarter. Sei Investments Co. now owns 345,228 shares of the company’s stock worth $17,291,000 after purchasing an additional 40,228 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Cactus by 330.4% during the 1st quarter. Russell Investments Group Ltd. now owns 43,266 shares of the company’s stock valued at $2,167,000 after purchasing an additional 33,214 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of Cactus by 10.0% in the first quarter. ProShare Advisors LLC now owns 11,779 shares of the company’s stock valued at $590,000 after purchasing an additional 1,072 shares in the last quarter. 85.11% of the stock is owned by institutional investors and hedge funds.

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.