Cactus, Inc. (NYSE:WHD) Receives $54.00 Average Price Target from Analysts

Shares of Cactus, Inc. (NYSE:WHD) have earned an average recommendation of “Hold” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $54.00.

A number of brokerages have recently commented on WHD. Citigroup upped their price objective on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Piper Sandler cut their target price on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Johnson Rice cut shares of Cactus from a “buy” rating to an “accumulate” rating in a research note on Friday, May 31st. Finally, Barclays lifted their price objective on shares of Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, August 5th.

Cactus Trading Up 2.9 %

NYSE:WHD opened at $62.48 on Tuesday. The business’s 50-day simple moving average is $58.81 and its 200-day simple moving average is $53.30. Cactus has a fifty-two week low of $37.58 and a fifty-two week high of $64.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.75 and a quick ratio of 2.59. The stock has a market capitalization of $4.97 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 2.15 and a beta of 1.95.

Cactus (NYSE:WHD) last released 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. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The company had revenue of $290.39 million during the quarter, compared to analysts’ expectations of $276.76 million. During the same quarter in the prior year, the company earned $0.84 earnings per share. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. Sell-side analysts expect that Cactus will post 3.03 earnings per share for the current fiscal year.

Cactus Increases Dividend

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

Institutional Investors Weigh In On Cactus

A number of institutional investors and hedge funds have recently modified their holdings of WHD. Principal Securities Inc. bought a new stake in Cactus in the fourth quarter valued at approximately $30,000. GAMMA Investing LLC raised its stake in Cactus by 27.5% in the 1st quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock valued at $50,000 after acquiring an additional 217 shares during the period. TFO Wealth Partners LLC lifted its holdings in Cactus by 221,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,214 shares of the company’s stock valued at $101,000 after purchasing an additional 2,213 shares during the last quarter. SG Americas Securities LLC bought a new position in Cactus during the first quarter worth $115,000. Finally, Covestor Ltd increased its holdings in shares of Cactus by 251.8% in the first quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after purchasing an additional 1,795 shares during the last quarter. 85.11% of the stock is 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.