Cactus (NYSE:WHD) Sets New 1-Year High – Time to Buy?

Shares of Cactus, Inc. (NYSE:WHD) hit a new 52-week high during trading on Tuesday . The stock traded as high as $70.01 and last traded at $68.72, with a volume of 43028 shares traded. The stock had previously closed at $68.58.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus lowered their price target on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 11th. Barclays lowered Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price objective for the company. in a report on Monday, November 4th. Piper Sandler lowered their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, Bank of America boosted their price target on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. One 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $56.40.

Cactus Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. The firm has a 50 day moving average of $60.46 and a 200-day moving average of $56.53. The stock has a market capitalization of $5.33 billion, a PE ratio of 24.32, a P/E/G ratio of 3.19 and a beta of 1.95.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The company 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 firm earned $0.80 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. Research analysts forecast that Cactus, Inc. will post 3.07 earnings per share for the current year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 0.78%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s dividend payout ratio (DPR) is presently 18.44%.

Insider Activity at Cactus

In other Cactus news, CEO Stephen Tadlock sold 33,500 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the transaction, the chief executive officer now directly owns 36,357 shares of the company’s stock, valued at $2,230,501.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Cactus news, CEO Stephen Tadlock sold 33,500 shares of the business’s stock in a transaction on Monday, November 4th. The shares were 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 owns 36,357 shares of the company’s stock, valued at $2,230,501.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Steven Bender sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $65.35, for a total value of $6,535,000.00. Following the completion of the sale, the chief operating officer now directly owns 57,567 shares in the company, valued at approximately $3,762,003.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cactus

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Cactus by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company’s stock valued at $329,182,000 after buying an additional 53,142 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Cactus in the 2nd quarter valued at approximately $122,623,000. Boston Trust Walden Corp boosted its stake in Cactus by 1.3% in the 2nd quarter. Boston Trust Walden Corp now owns 1,955,227 shares of the company’s stock valued at $103,119,000 after buying an additional 25,839 shares in the last quarter. Capital International Investors grew its position in Cactus by 3.9% in the first quarter. Capital International Investors now owns 1,293,233 shares of the company’s stock valued at $64,778,000 after acquiring an additional 48,379 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of 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 acquiring an additional 38,983 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

About Cactus

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.