Cactus (NYSE:WHD) Reaches New 52-Week High – Should You Buy?

Shares of Cactus, Inc. (NYSE:WHD) reached a new 52-week high on Wednesday . The company 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.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WHD. Barclays downgraded Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 target price for the company. in a research report on Monday. Stifel Nicolaus dropped their target price on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Bank of America boosted their target price on Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. Citigroup boosted their target price on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler dropped their target price on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Cactus presently has a consensus rating of “Hold” and an average price target of $56.40.

Cactus Stock Up 11.1 %

The business has a fifty day moving average of $59.80 and a 200 day moving average of $56.08. The firm has a market cap of $5.50 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.92 and a beta of 1.95. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 EPS 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 business had revenue of $293.18 million during the quarter, compared to the consensus estimate of $287.47 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts predict that Cactus, Inc. will post 3.05 EPS for the current year.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be paid a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 0.75%. Cactus’s payout ratio is 18.44%.

Insider Buying and Selling at Cactus

In other Cactus news, CEO Stephen Tadlock sold 33,500 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $61.35, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Cactus by 0.8% during the first quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company’s stock worth $329,182,000 after buying an additional 53,142 shares during the period. Pacer Advisors Inc. acquired a new position in shares of Cactus during the second quarter worth about $122,623,000. Boston Trust Walden Corp boosted its position in shares of Cactus by 1.3% during the second quarter. Boston Trust Walden Corp now owns 1,955,227 shares of the company’s stock worth $103,119,000 after buying an additional 25,839 shares during the period. Capital International Investors boosted its position in Cactus by 3.9% during the first quarter. Capital International Investors now owns 1,293,233 shares of the company’s stock valued at $64,778,000 after purchasing an additional 48,379 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Cactus by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,153,087 shares of the company’s stock valued at $60,811,000 after purchasing an additional 38,983 shares during 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.