Cactus (NYSE:WHD – Get Rating) had its price target boosted by Morgan Stanley from $50.00 to $55.00 in a research report report published on Monday, Stock Target Advisor reports. They currently have an equal weight rating on the stock.
Separately, Barclays cut their target price on shares of Cactus from $57.00 to $52.00 and set an overweight rating for the company in a research note on Monday, August 8th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Cactus presently has an average rating of Hold and a consensus target price of $54.80.
Get Cactus alerts:Cactus Stock Down 3.1 %
Shares of WHD opened at $34.89 on Monday. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 0.44 and a beta of 1.97. Cactus has a 52 week low of $34.70 and a 52 week high of $64.18. The stock's 50-day moving average price is $40.75 and its 200-day moving average price is $46.18. The company has a quick ratio of 3.92, a current ratio of 5.23 and a debt-to-equity ratio of 0.01.
Cactus (NYSE:WHD – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.44 earnings per share (EPS) 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 prior year, the firm posted $0.16 earnings per share. The firm's quarterly revenue was up 56.3% compared to the same quarter last year. On average, sell-side analysts predict that Cactus will post 1.75 EPS for the current year.Cactus Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Monday, August 29th were given a $0.11 dividend. The ex-dividend date of this dividend was Friday, August 26th. This represents a $0.44 dividend on an annualized basis and a yield of 1.26%. Cactus's payout ratio is currently 35.48%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in WHD. Federated Hermes Inc. increased its stake in Cactus by 4.5% during the second quarter. Federated Hermes Inc. now owns 1,047,900 shares of the company's stock worth $42,199,000 after purchasing an additional 44,766 shares during the period. Brown Advisory Inc. grew its holdings in shares of Cactus by 0.4% in the second quarter. Brown Advisory Inc. now owns 1,758,458 shares of the company's stock valued at $70,813,000 after purchasing an additional 6,289 shares in the last quarter. Legal & General Group Plc increased its stake in Cactus by 24.0% during the 2nd quarter. Legal & General Group Plc now owns 26,808 shares of the company's stock worth $1,079,000 after buying an additional 5,185 shares during the period. Centiva Capital LP acquired a new stake in Cactus during the 2nd quarter worth approximately $418,000. Finally, Captrust Financial Advisors boosted its position in Cactus by 48.1% in the 2nd quarter. Captrust Financial Advisors now owns 2,120 shares of the company's stock valued at $85,000 after buying an additional 689 shares during the period. 83.96% of the stock is currently owned by institutional investors and hedge funds.
About Cactus
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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.
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