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

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

WHD has been the subject of a number of other research reports. Benchmark reaffirmed a hold rating on shares of Cactus in a research report on Monday. Bank of America raised their price objective on 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 issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $55.14.

Cactus Trading Up 2.1 %

Cactus stock opened at $51.69 on Monday. The business’s 50-day simple moving average is $49.33 and its 200-day simple moving average is $45.55. Cactus has a 52 week low of $31.36 and a 52 week high of $57.00. The firm has a market capitalization of $4.10 billion, a PE ratio of 20.59, a PEG ratio of 9.11 and a beta of 1.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.24.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. Cactus had a return on equity of 22.46% and a net margin of 14.46%. The company had revenue of $274.12 million during the quarter, compared to analysts’ expectations of $270.70 million. During the same period in the prior year, the business earned $0.64 earnings per share. Cactus’s revenue for the quarter was up 20.0% compared to the same quarter last year. Equities research analysts forecast that Cactus will post 2.87 earnings per share for the current year.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 28th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, May 24th. Cactus’s dividend payout ratio (DPR) is 19.12%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Cactus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WHD. Principal Securities Inc. bought a new stake in shares of Cactus during the fourth quarter valued at approximately $30,000. GAMMA Investing LLC acquired a new stake in shares of Cactus in the 4th quarter valued at $33,000. NBC Securities Inc. acquired a new stake in shares of Cactus in the 3rd quarter valued at $36,000. Signaturefd LLC raised its position in shares of Cactus by 164.5% during the third quarter. Signaturefd LLC now owns 857 shares of the company’s stock worth $43,000 after acquiring an additional 533 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Cactus during the third quarter valued at $70,000. 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.