Cactus (NYSE:WHD) Earns Sector Perform Rating from Analysts at Scotiabank

Scotiabank began coverage on shares of Cactus (NYSE:WHD) in a research report report published on Tuesday, The Fly reports. The brokerage issued a sector perform rating and a $22.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. Bank of America raised Cactus from an underperform rating to a neutral rating and set a $21.00 price objective on the stock in a report on Thursday, May 28th. Citigroup boosted their target price on Cactus from $21.00 to $25.00 and gave the stock a neutral rating in a report on Tuesday, August 25th. Stifel Nicolaus raised Cactus from a hold rating to a buy rating and boosted their target price for the stock from $20.00 to $28.00 in a report on Friday, July 31st. Raymond James boosted their target price on Cactus from $24.00 to $26.00 and gave the stock a strong-buy rating in a report on Friday, July 31st. Finally, Zacks Investment Research downgraded Cactus from a buy rating to a hold rating in a report on Saturday, August 22nd. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Cactus presently has an average rating of Buy and a consensus price target of $22.92.

NYSE WHD traded up $0.24 during trading on Tuesday, reaching $20.60. 2,438 shares of the company traded hands, compared to its average volume of 483,119. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.55 and a current ratio of 7.09. The stock’s 50 day moving average price is $22.92 and its two-hundred day moving average price is $19.03. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 15.66 and a beta of 2.34. Cactus has a 1-year low of $8.16 and a 1-year high of $35.28.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.09. The company had revenue of $66.55 million for the quarter, compared to the consensus estimate of $60.29 million. Cactus had a return on equity of 14.25% and a net margin of 11.96%. The company’s quarterly revenue was down 60.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. Equities research analysts expect that Cactus will post 0.48 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Monday, August 31st will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Friday, August 28th. Cactus’s dividend payout ratio (DPR) is presently 19.35%.

A number of hedge funds have recently bought and sold shares of the stock. Two Sigma Advisers LP raised its position in Cactus by 18.2% in the 2nd quarter. Two Sigma Advisers LP now owns 59,800 shares of the company’s stock worth $1,234,000 after purchasing an additional 9,200 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Cactus by 45.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 379,712 shares of the company’s stock valued at $7,833,000 after acquiring an additional 117,925 shares during the last quarter. Stephens Inc. AR raised its position in shares of Cactus by 60.3% during the 2nd quarter. Stephens Inc. AR now owns 22,024 shares of the company’s stock valued at $454,000 after acquiring an additional 8,289 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Cactus by 6.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 330,973 shares of the company’s stock valued at $6,828,000 after acquiring an additional 20,307 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in shares of Cactus by 377.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 53,210 shares of the company’s stock valued at $1,098,000 after acquiring an additional 42,076 shares during the last quarter. Hedge funds and other institutional investors own 62.66% of the company’s stock.

About Cactus

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.

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Analyst Recommendations for Cactus (NYSE:WHD)

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