Barclays Downgrades Cactus (NYSE:WHD) to Equal Weight

Barclays lowered shares of Cactus (NYSE:WHD) from an overweight rating to an equal weight rating in a research note published on Monday morning, Marketbeat reports. The brokerage currently has $61.00 price objective on the stock.

A number of other research firms have also issued reports on WHD. Citigroup lifted 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. Stifel Nicolaus dropped their price target on Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Bank of America lifted their target price on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a research report on Monday, October 14th. Finally, Piper Sandler cut their target price on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Cactus has an average rating of “Hold” and an average target price of $56.40.

Cactus Stock Performance

WHD stock opened at $69.33 on Monday. The company has a 50-day simple moving average of $60.00 and a 200 day simple moving average of $56.18. The company has a market capitalization of $5.52 billion, a P/E ratio of 24.59, a PEG ratio of 2.92 and a beta of 1.95. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. Cactus has a fifty-two week low of $37.58 and a fifty-two week high of $69.77.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The company had revenue of $293.18 million during the quarter, compared to analyst estimates of $287.47 million. During the same period in the prior year, the business posted $0.80 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Sell-side analysts predict that Cactus will post 3.05 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 2nd will be given a $0.13 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 0.75%. Cactus’s payout ratio is 18.44%.

Insider Transactions at Cactus

In other news, CEO Stephen Tadlock sold 33,500 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the sale, the chief executive officer now owns 36,357 shares of the company’s stock, valued at $2,230,501.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cactus

A number of large investors have recently added to or reduced their stakes in WHD. Norden Group LLC grew its holdings in shares of Cactus by 42.0% during the first quarter. Norden Group LLC now owns 12,978 shares of the company’s stock worth $650,000 after buying an additional 3,838 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Cactus during the 1st quarter valued at $182,000. SG Americas Securities LLC bought a new position in Cactus during the first quarter worth $115,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Cactus in the first quarter valued at $1,423,000. Finally, Sei Investments Co. raised its position in shares of Cactus by 13.2% in the first quarter. Sei Investments Co. now owns 345,228 shares of the company’s stock valued at $17,291,000 after purchasing an additional 40,228 shares during the period. Institutional investors own 85.11% of the company’s stock.

About Cactus

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.