Stifel Nicolaus Trims Cactus (NYSE:WHD) Target Price to $67.00

Cactus (NYSE:WHD) had its target price reduced by Stifel Nicolaus from $69.00 to $67.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also commented on the stock. Piper Sandler reduced their price target on shares of Cactus from $55.00 to $54.00 and set a neutral rating for the company in a report on Monday, July 15th. Barclays increased their price objective on shares of Cactus from $56.00 to $61.00 and gave the company an overweight rating in a research report on Monday, August 5th. Finally, Citigroup boosted their price target on Cactus from $48.00 to $52.00 and gave the company a neutral rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Cactus presently has a consensus rating of Hold and an average price target of $55.40.

Cactus Price Performance

Cactus stock opened at $62.97 on Friday. The firm’s fifty day moving average is $59.53 and its 200 day moving average is $54.98. The company has a quick ratio of 2.59, a current ratio of 3.75 and a debt-to-equity ratio of 0.01. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 2.29 and a beta of 1.95. Cactus has a 52-week low of $37.58 and a 52-week high of $64.96.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The company had revenue of $290.39 million for the quarter, compared to analyst estimates of $276.76 million. During the same period in the prior year, the company posted $0.84 EPS. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. Sell-side analysts forecast that Cactus will post 3.04 EPS for the current fiscal year.

Cactus Increases Dividend

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

Hedge Funds Weigh In On Cactus

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Congress Asset Management Co. MA increased its stake in shares of Cactus by 23.8% in the 4th quarter. Congress Asset Management Co. MA now owns 127,640 shares of the company’s stock worth $5,795,000 after acquiring an additional 24,517 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Cactus by 3.5% during the fourth quarter. Fisher Asset Management LLC now owns 291,350 shares of the company’s stock worth $13,227,000 after buying an additional 9,784 shares during the period. Vanguard Group Inc. grew its stake in shares of Cactus by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 6,518,664 shares of the company’s stock valued at $295,947,000 after buying an additional 148,355 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Cactus in the 4th quarter valued at $3,541,000. Finally, Quadrature Capital Ltd lifted its stake in Cactus by 54.2% during the 4th quarter. Quadrature Capital Ltd now owns 27,748 shares of the company’s stock worth $1,259,000 after acquiring an additional 9,752 shares in the last quarter. Hedge funds and other institutional investors own 85.11% of the company’s stock.

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.