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

Cactus, Inc. (NYSE:WHD) shares 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.

Analyst Ratings Changes

WHD has been the subject of a number of recent research reports. Barclays downgraded Cactus from an “overweight” rating to an “equal weight” rating and set a $61.00 price target for the company. in a research note on Monday. Bank of America raised their price objective on Cactus from $44.00 to $48.00 and gave the company an “underperform” rating in a research note on Monday, October 14th. Piper Sandler cut their price objective on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Stifel Nicolaus cut their price objective on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Finally, Citigroup raised their price objective on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Cactus currently has an average rating of “Hold” and a consensus target price of $56.40.

Cactus Trading Up 11.1 %

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 company has a 50-day simple moving average of $59.80 and a 200 day simple moving average of $56.08. The company has a market capitalization 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.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.75 by $0.04. The company had revenue of $293.18 million for the quarter, compared to the consensus estimate of $287.47 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 EPS. Sell-side analysts expect that Cactus, Inc. will post 3.05 earnings per share for the current year.

Cactus Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Monday, December 2nd. Cactus’s payout ratio is presently 18.44%.

Insider Transactions at Cactus

In other news, CEO Stephen Tadlock sold 33,500 shares of Cactus stock in a transaction that occurred 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 sale, the chief executive officer now 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 Securities & Exchange Commission, which can be accessed through the SEC website. 16.84% of the stock is owned by insiders.

Institutional Trading of Cactus

Several institutional investors have recently bought and sold shares of WHD. Norden Group LLC boosted its stake in Cactus by 42.0% in the 1st quarter. Norden Group LLC now owns 12,978 shares of the company’s stock valued at $650,000 after buying an additional 3,838 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Cactus in the first quarter worth $182,000. SG Americas Securities LLC acquired a new position in Cactus in the first quarter worth $115,000. Susquehanna Fundamental Investments LLC acquired a new position in Cactus in the first quarter worth $1,423,000. Finally, Sei Investments Co. boosted its stake in Cactus by 13.2% in the first 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. 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.