Benchmark Reaffirms Hold Rating for Cactus (NYSE:WHD)

Benchmark reiterated their hold rating on shares of Cactus (NYSE:WHD) in a research note published on Monday morning, Benzinga reports.

Separately, Bank of America raised their target price on Cactus from $40.00 to $43.00 and gave the stock an underperform rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $55.14.

Cactus Stock Down 1.8 %

Shares of NYSE:WHD opened at $50.56 on Monday. The stock’s 50-day moving average price is $49.54 and its 200-day moving average price is $45.59. Cactus has a 12-month low of $31.36 and a 12-month high of $57.00. The stock has a market capitalization of $4.01 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 9.11 and a beta of 1.95. The company has a current ratio of 3.24, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01.

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

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, May 28th will be issued a $0.12 dividend. The ex-dividend date is Friday, May 24th. This represents a $0.48 annualized dividend and a yield of 0.95%. Cactus’s dividend payout ratio (DPR) is presently 19.12%.

Insiders Place Their Bets

In other Cactus news, EVP William D. Marsh sold 1,700 shares of the firm’s stock in a transaction dated 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 directly owns 3,911 shares in the company, valued at $180,688.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Scott Bender sold 78,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 20 shares of the company’s stock, valued at approximately $915.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP William D. Marsh sold 1,700 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was 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 directly owns 3,911 shares in the company, valued at $180,688.20. The disclosure for this sale can be found here. 16.84% of the stock is currently owned by company insiders.

Institutional Trading of Cactus

Hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its position in shares of Cactus by 198.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 208,010 shares of the company’s stock worth $9,444,000 after purchasing an additional 138,294 shares in the last quarter. Boston Trust Walden Corp lifted its position in Cactus by 1.4% in the 4th quarter. Boston Trust Walden Corp now owns 1,941,115 shares of the company’s stock valued at $88,127,000 after acquiring an additional 26,185 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cactus by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 572,530 shares of the company’s stock valued at $28,747,000 after acquiring an additional 18,673 shares in the last quarter. FMR LLC lifted its position in Cactus by 181.5% in the 3rd quarter. FMR LLC now owns 1,898,398 shares of the company’s stock valued at $95,319,000 after acquiring an additional 1,224,079 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Cactus by 13.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 8,979 shares of the company’s stock valued at $451,000 after acquiring an additional 1,071 shares in the last quarter. 85.11% of the stock is owned by institutional investors.

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.