Cactus, Inc. (NYSE:WHD) Given Average Rating of “Hold” by Analysts

Shares of Cactus, Inc. (NYSE:WHD) have earned an average rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $55.00.

Several equities research analysts have recently weighed in on the stock. Benchmark reissued a “hold” rating on shares of Cactus in a research report on Monday, May 6th. Citigroup upped their price objective on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Johnson Rice downgraded Cactus from a “buy” rating to an “accumulate” rating in a report on Friday, May 31st. Piper Sandler dropped their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Finally, Barclays lifted their price objective on shares of Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, August 5th.

Cactus Trading Up 0.7 %

Shares of WHD opened at $59.96 on Friday. Cactus has a one year low of $37.58 and a one year high of $64.96. The stock has a 50-day moving average price of $57.08 and a 200 day moving average price of $52.02. 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 has a market capitalization of $4.77 billion, a P/E ratio of 23.89, a P/E/G ratio of 2.24 and a beta of 1.98.

Cactus (NYSE:WHD) last released its earnings results on Wednesday, July 31st. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.72 by $0.09. The company had revenue of $290.39 million during the quarter, compared to analysts’ expectations of $276.76 million. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The business’s revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 EPS. Sell-side analysts forecast that Cactus will post 3.03 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 26th will be given a dividend of $0.13 per share. The ex-dividend date is Monday, August 26th. This represents a $0.52 dividend on an annualized basis and a yield of 0.87%. This is a positive change from Cactus’s previous quarterly dividend of $0.12. Cactus’s payout ratio is currently 20.72%.

Institutional Investors Weigh In On Cactus

Several large investors have recently added to or reduced their stakes in WHD. Dana Investment Advisors Inc. grew its position in shares of Cactus by 0.6% during the second quarter. Dana Investment Advisors Inc. now owns 31,807 shares of the company’s stock worth $1,678,000 after acquiring an additional 202 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Cactus by 22.3% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 66,434 shares of the company’s stock valued at $3,504,000 after purchasing an additional 12,119 shares during the period. Truist Financial Corp grew its position in Cactus by 15.0% in the 2nd quarter. Truist Financial Corp now owns 5,618 shares of the company’s stock worth $296,000 after purchasing an additional 733 shares during the last quarter. Makaira Partners LLC increased its stake in shares of Cactus by 399.6% in the second quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock valued at $26,348,000 after purchasing an additional 399,581 shares during the period. Finally, Creative Planning bought a new stake in shares of Cactus during the second quarter valued at approximately $467,000. 85.11% of the stock is owned by institutional investors and hedge funds.

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.