Analysts Set Cactus, Inc. (NYSE:WHD) Price Target at $56.33

Shares of Cactus, Inc. (NYSE:WHD) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $56.3333.

WHD has been the topic of a number of research analyst reports. Piper Sandler started coverage on Cactus in a report on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price target on the stock. Wall Street Zen upgraded Cactus from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a research note on Monday, December 29th. Barclays upped their target price on Cactus from $56.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Finally, Zacks Research lowered shares of Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th.

Cactus Stock Down 1.3%

WHD stock opened at $50.01 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.81 and a quick ratio of 4.13. The firm has a market capitalization of $3.99 billion, a P/E ratio of 20.84, a P/E/G ratio of 4.91 and a beta of 1.25. Cactus has a 52-week low of $33.20 and a 52-week high of $59.25. The company’s 50 day simple moving average is $53.76 and its 200-day simple moving average is $45.79.

Cactus (NYSE:WHD) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. Cactus had a net margin of 15.39% and a return on equity of 15.18%. The firm had revenue of $261.20 million for the quarter, compared to analysts’ expectations of $250.60 million. During the same period in the previous year, the company posted $0.71 EPS. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Cactus will post 3.08 EPS for the current year.

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 2nd will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, March 2nd. Cactus’s dividend payout ratio is currently 23.33%.

Institutional Investors Weigh In On Cactus

Institutional investors have recently modified their holdings of the stock. Salomon & Ludwin LLC bought a new position in Cactus during the third quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its position in Cactus by 67.6% during the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after buying an additional 259 shares during the last quarter. Johnson Financial Group Inc. bought a new position in Cactus during the third quarter valued at about $33,000. Aster Capital Management DIFC Ltd raised its holdings in Cactus by 73.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after buying an additional 314 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of Cactus by 55.4% in the third quarter. Huntington National Bank now owns 1,094 shares of the company’s stock worth $43,000 after buying an additional 390 shares during the last quarter. Institutional investors and hedge funds 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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.