Cactus (NYSE:WHD) Downgraded to “Equal Weight” Rating by Barclays

Barclays cut shares of Cactus (NYSE:WHD) from an overweight rating to an equal weight rating in a report issued on Monday, MarketBeat.com reports. The brokerage currently has $61.00 target price on the stock.

Several other equities research analysts have also recently issued reports on WHD. 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 note on Monday, October 14th. Piper Sandler dropped their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Stifel Nicolaus dropped their target price on Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Citigroup raised their target price on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.40.

Cactus Price Performance

NYSE:WHD opened at $61.36 on Monday. The stock has a market capitalization of $4.88 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 2.90 and a beta of 1.95. Cactus has a 52 week low of $37.58 and a 52 week high of $64.96. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average price is $59.77 and its 200-day moving average price is $56.00.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.75 by $0.04. The company had revenue of $293.18 million during the quarter, compared to analyst estimates of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS. As a group, equities analysts expect that Cactus will post 3.04 EPS for the current fiscal year.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 2nd will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Monday, December 2nd. Cactus’s dividend payout ratio (DPR) is presently 18.44%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Cactus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of Cactus by 33.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock valued at $71,000 after purchasing an additional 340 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Cactus in the first quarter valued at approximately $115,000. Covestor Ltd grew its position in Cactus by 251.8% during the 1st quarter. Covestor Ltd now owns 2,508 shares of the company’s stock worth $126,000 after purchasing an additional 1,795 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Cactus by 10.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company’s stock valued at $188,000 after acquiring an additional 307 shares during the period. Finally, NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Cactus during the third quarter worth approximately $209,000. 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.