Cactus (NYSE:WHD) Shares Up 3.9%

Cactus, Inc. (NYSE:WHD)’s share price rose 3.9% during mid-day trading on Thursday . The company traded as high as $63.79 and last traded at $63.72. Approximately 65,771 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 759,393 shares. The stock had previously closed at $61.35.

Wall Street Analysts Forecast Growth

WHD has been the subject of a number of research reports. Piper Sandler cut their price objective 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. Citigroup upped their price objective on shares of Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Finally, Barclays upped their price objective on shares of Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $54.00.

Cactus Stock Up 3.1 %

The firm has a market cap of $5.03 billion, a PE ratio of 25.39, a PEG ratio of 2.14 and a beta of 1.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.59 and a current ratio of 3.75. The company’s 50-day simple moving average is $59.27 and its two-hundred day simple moving average is $54.24.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.09. The business had revenue of $290.39 million during the quarter, compared to analysts’ expectations of $276.76 million. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 EPS. On average, analysts predict that Cactus, Inc. will post 3.04 earnings per share for the current fiscal year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $0.52 annualized dividend and a yield of 0.82%. This is a boost from Cactus’s previous quarterly dividend of $0.12. Cactus’s dividend payout ratio is presently 20.72%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. purchased a new stake in Cactus during the 2nd quarter valued at about $122,623,000. First Trust Advisors LP raised its position in shares of Cactus by 595.4% during the fourth quarter. First Trust Advisors LP now owns 683,051 shares of the company’s stock valued at $31,011,000 after buying an additional 584,831 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Cactus by 3,350.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 513,417 shares of the company’s stock valued at $23,309,000 after buying an additional 498,536 shares during the last quarter. Makaira Partners LLC raised its position in shares of Cactus by 399.6% during the second quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock valued at $26,348,000 after buying an additional 399,581 shares during the last quarter. Finally, Wasatch Advisors LP raised its position in shares of Cactus by 39.1% during the first quarter. Wasatch Advisors LP now owns 1,336,006 shares of the company’s stock valued at $66,921,000 after buying an additional 375,829 shares during the last quarter. 85.11% of the stock is currently 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.