Cactus (NYSE:WHD) Trading Down 2.8%

Cactus, Inc. (NYSE:WHD)’s share price dropped 2.8% during trading on Tuesday . The stock traded as low as $58.25 and last traded at $58.46. Approximately 73,761 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 786,771 shares. The stock had previously closed at $60.17.

Wall Street Analyst Weigh In

WHD has been the topic of several analyst reports. Bank of America lifted their target price on Cactus from $40.00 to $43.00 and gave the company an “underperform” rating in a research report on Monday, April 15th. Citigroup upped their target price on shares of Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Benchmark reiterated a “hold” rating on shares of Cactus in a report on Monday, May 6th. Barclays boosted their price target on shares of Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Johnson Rice lowered shares of Cactus from a “buy” rating to an “accumulate” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $55.00.

Cactus Trading Down 3.4 %

The company has a quick ratio of 2.59, a current ratio of 3.75 and a debt-to-equity ratio of 0.01. The firm has a market cap of $4.62 billion, a P/E ratio of 23.97, a price-to-earnings-growth ratio of 2.25 and a beta of 1.98. The firm’s 50-day simple moving average is $54.82 and its 200 day simple moving average is $50.61.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The company had revenue of $290.39 million for the quarter, compared to analysts’ expectations of $276.76 million. During the same quarter in the previous year, the firm posted $0.84 EPS. Cactus’s revenue was down 5.0% on a year-over-year basis. As a group, analysts expect that Cactus, Inc. will post 2.91 earnings per share for the current year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 26th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Monday, August 26th. This is a boost from Cactus’s previous quarterly dividend of $0.12. Cactus’s dividend payout ratio is currently 19.12%.

Institutional Investors Weigh In On Cactus

Several large investors have recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new position in Cactus during the fourth quarter worth about $30,000. GAMMA Investing LLC purchased a new position in Cactus in the 4th quarter valued at approximately $33,000. TFO Wealth Partners LLC raised its holdings in Cactus by 221,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,214 shares of the company’s stock valued at $101,000 after acquiring an additional 2,213 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Cactus during the first quarter worth $115,000. Finally, Covestor Ltd boosted its holdings in shares of Cactus by 251.8% in the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock worth $126,000 after acquiring an additional 1,795 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.

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.