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

Shares of Cactus, Inc. (NYSE:WHD) have received an average rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $54.00.

Several equities analysts recently commented on WHD shares. Piper Sandler decreased their price target on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Barclays boosted their price objective on shares of Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, August 5th. 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. Finally, Johnson Rice cut Cactus from a “buy” rating to an “accumulate” rating in a research note on Friday, May 31st.

Cactus Price Performance

Cactus stock opened at $62.48 on Tuesday. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 2.15 and a beta of 1.95. The company has a current ratio of 3.75, a quick ratio of 2.59 and a debt-to-equity ratio of 0.01. Cactus has a 12 month low of $37.58 and a 12 month high of $64.96. The stock’s 50 day moving average is $58.81 and its 200-day moving average is $53.30.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. The firm 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%. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. Equities research analysts expect that Cactus will post 3.03 EPS for the current year.

Cactus Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Cactus by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 6,571,806 shares of the company’s stock valued at $329,182,000 after purchasing an additional 53,142 shares during the last quarter. Pacer Advisors Inc. bought a new position in Cactus in the second quarter valued at about $122,623,000. Boston Trust Walden Corp raised its stake in Cactus by 1.3% during the second quarter. Boston Trust Walden Corp now owns 1,955,227 shares of the company’s stock worth $103,119,000 after acquiring an additional 25,839 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of Cactus by 39.1% in the first quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock worth $66,921,000 after acquiring an additional 375,829 shares during the last quarter. Finally, Capital International Investors boosted its stake in shares of Cactus by 3.9% in the 1st 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 currently owned by institutional investors and hedge funds.

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.