Log Out

Cactus (NYSE:WHD) Hits New 12-Month Low at $34.69

Financial News Live · Sep 26, 2022 17:03

Cactus, Inc. (NYSE:WHD – Get Rating)'s stock price reached a new 52-week low during trading on Monday . The company traded as low as $34.69 and last traded at $34.95, with a volume of 56354 shares traded. The stock had previously closed at $35.99.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WHD shares. Morgan Stanley lifted their price target on shares of Cactus from $50.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Monday. Barclays dropped their price target on shares of Cactus from $57.00 to $52.00 and set an "overweight" rating on the stock in a research note on Monday, August 8th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $54.80.

Get Cactus alerts:

Cactus Stock Performance

The firm's 50 day simple moving average is $40.79 and its 200 day simple moving average is $46.32. The company has a current ratio of 5.23, a quick ratio of 3.92 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.61 billion, a PE ratio of 28.33, a PEG ratio of 0.44 and a beta of 1.97.

Cactus (NYSE:WHD – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.08. Cactus had a net margin of 13.43% and a return on equity of 12.05%. The firm had revenue of $170.20 million for the quarter, compared to the consensus estimate of $161.11 million. During the same period in the previous year, the firm posted $0.16 EPS. The business's quarterly revenue was up 56.3% on a year-over-year basis. On average, research analysts forecast that Cactus, Inc. will post 1.75 EPS for the current fiscal year.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Monday, August 29th were issued a $0.11 dividend. The ex-dividend date was Friday, August 26th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.28%. Cactus's dividend payout ratio (DPR) is presently 35.48%.

Institutional Trading of Cactus

Large investors have recently made changes to their positions in the business. Alliancebernstein L.P. grew its holdings in Cactus by 45.9% during the 4th quarter. Alliancebernstein L.P. now owns 4,864,730 shares of the company's stock valued at $185,492,000 after purchasing an additional 1,529,839 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Cactus by 788.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,087,931 shares of the company's stock valued at $61,729,000 after purchasing an additional 965,458 shares during the last quarter. Invesco Ltd. grew its holdings in Cactus by 510.9% during the 1st quarter. Invesco Ltd. now owns 864,909 shares of the company's stock valued at $49,075,000 after purchasing an additional 723,339 shares during the last quarter. Stephens Investment Management Group LLC bought a new position in Cactus during the 1st quarter valued at about $39,798,000. Finally, TimesSquare Capital Management LLC bought a new position in Cactus during the 2nd quarter valued at about $25,613,000. 83.96% of the stock is currently owned by institutional investors.

About Cactus

(Get Rating)

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.