Cactus (NYSE:WHD) Price Target Cut to $54.00 by Analysts at Barclays

Cactus (NYSE:WHD) had its price target decreased by Barclays from $61.00 to $54.00 in a report released on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Cactus Stock Performance

Cactus stock opened at $47.53 on Wednesday. The stock’s 50-day moving average is $59.53 and its 200-day moving average is $60.93. The company has a market cap of $3.78 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 5.13 and a beta of 1.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. Cactus has a 12 month low of $44.57 and a 12 month high of $70.01.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). The firm had revenue of $272.12 million during the quarter, compared to analysts’ expectations of $277.59 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. Equities analysts anticipate that Cactus will post 3.08 earnings per share for the current year.

Cactus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.52 annualized dividend and a dividend yield of 1.09%. Cactus’s payout ratio is currently 18.84%.

Institutional Investors Weigh In On Cactus

Hedge funds have recently modified their holdings of the stock. Bridgewater Associates LP purchased a new stake in shares of Cactus during the 3rd quarter valued at about $9,501,000. Principal Financial Group Inc. raised its holdings in shares of Cactus by 4.4% during the 4th quarter. Principal Financial Group Inc. now owns 357,313 shares of the company’s stock valued at $20,853,000 after buying an additional 15,035 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Cactus by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock valued at $185,155,000 after buying an additional 52,085 shares during the period. New York State Common Retirement Fund grew its stake in Cactus by 2.7% during the 4th quarter. New York State Common Retirement Fund now owns 183,077 shares of the company’s stock valued at $10,684,000 after purchasing an additional 4,890 shares in the last quarter. Finally, Citigroup Inc. grew its stake in Cactus by 81.2% during the 3rd quarter. Citigroup Inc. now owns 89,464 shares of the company’s stock valued at $5,338,000 after purchasing an additional 40,099 shares in the last quarter. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

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.