Brokerages Set Cactus, Inc. (NYSE:WHD) PT at $54.00

Shares of Cactus, Inc. (NYSE:WHD) have been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $54.00.

Several research firms have recently issued reports on WHD. Citigroup raised their target price on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. 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. Barclays increased their price target on Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Johnson Rice cut Cactus from a “buy” rating to an “accumulate” rating in a report on Friday, May 31st.

Cactus Trading Down 1.1 %

WHD opened at $62.79 on Tuesday. Cactus has a 12 month low of $37.58 and a 12 month high of $64.96. The company has a current ratio of 3.75, a quick ratio of 2.59 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $59.04 and a 200 day moving average of $53.65. The firm has a market cap of $4.99 billion, a P/E ratio of 25.01, a P/E/G ratio of 2.15 and a beta of 1.95.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.09. The company had revenue of $290.39 million for the quarter, compared to analyst estimates of $276.76 million. Cactus had a return on equity of 21.22% and a net margin of 16.88%. Cactus’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. As a group, research analysts forecast that Cactus will post 3.03 EPS for the current year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were paid a $0.13 dividend. The ex-dividend date was Monday, August 26th. This represents a $0.52 annualized dividend and a yield of 0.83%. This is a boost from Cactus’s previous quarterly dividend of $0.12. Cactus’s dividend payout ratio is 20.72%.

Institutional Investors Weigh In On Cactus

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake 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 valued at $329,182,000 after buying an additional 53,142 shares during the period. Pacer Advisors Inc. purchased a new position in Cactus during the 2nd quarter valued at about $122,623,000. Boston Trust Walden Corp raised its holdings in shares of 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 purchasing an additional 25,839 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Cactus by 39.1% in the 1st quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock worth $66,921,000 after purchasing an additional 375,829 shares during the period. Finally, Capital International Investors boosted its stake in shares of 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 in the last quarter. 85.11% of the stock is owned by institutional investors.

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.