Cactus (NYSE:WHD) PT Raised to $61.00 at Barclays

Cactus (NYSE:WHD) had its target price increased by Barclays from $56.00 to $61.00 in a report issued on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also commented on the company. Benchmark reaffirmed a hold rating on shares of Cactus in a research report on Monday, May 6th. Johnson Rice downgraded Cactus from a buy rating to an accumulate rating in a report on Friday, May 31st. Citigroup increased their target price on Cactus from $48.00 to $52.00 and gave the stock a neutral rating in a report on Wednesday, July 10th. Piper Sandler decreased their price target on shares of Cactus from $55.00 to $54.00 and set a neutral rating for the company in a research note on Monday, July 15th. Finally, Bank of America raised their price objective on shares of Cactus from $40.00 to $43.00 and gave the company an underperform rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Cactus currently has a consensus rating of Hold and an average price target of $55.00.

Cactus Stock Performance

Shares of WHD stock opened at $58.77 on Monday. The firm has a 50 day moving average of $54.44 and a 200-day moving average of $50.20. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 2.25 and a beta of 1.98. The company has a quick ratio of 2.59, a current ratio of 3.75 and a debt-to-equity ratio of 0.01. Cactus has a 52 week low of $37.58 and a 52 week high of $64.96.

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 business had revenue of $290.39 million during the quarter, compared to analysts’ expectations of $276.76 million. During the same period last year, the company posted $0.84 earnings per share. The business’s quarterly revenue was down 5.0% on a year-over-year basis. On average, equities analysts forecast that Cactus will post 2.91 earnings per share for the current year.

Cactus Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 26th will be given a $0.13 dividend. This is a positive change from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Monday, August 26th. Cactus’s dividend payout ratio is presently 19.12%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in shares of Cactus during the fourth quarter valued at approximately $30,000. GAMMA Investing LLC bought a new stake in shares of Cactus during the 4th quarter worth $33,000. TFO Wealth Partners LLC raised its stake in shares of Cactus by 221,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,214 shares of the company’s stock worth $101,000 after purchasing an additional 2,213 shares during the period. SG Americas Securities LLC purchased a new position in shares of Cactus in the 1st quarter worth about $115,000. Finally, Covestor Ltd grew its position in Cactus by 251.8% during the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after buying an additional 1,795 shares during the period. 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.