Cactus (NYSE:WHD) PT Raised to $48.00 at Bank of America

Cactus (NYSE:WHD) had its target price raised by Bank of America from $44.00 to $48.00 in a research report report published on Monday, Benzinga reports. Bank of America currently has an underperform rating on the stock.

Several other brokerages have also commented on WHD. Barclays increased their price target on shares of Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Piper Sandler dropped their price target on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Citigroup increased their price target on shares of Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus lowered their target price on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.40.

Cactus Stock Down 2.9 %

Shares of NYSE:WHD opened at $61.39 on Monday. The firm’s 50 day moving average price is $59.76 and its 200 day moving average price is $55.20. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 2.30 and a beta of 1.95. Cactus has a fifty-two week low of $37.58 and a fifty-two week high of $64.96. The company has a quick ratio of 2.59, a current ratio of 3.75 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last issued its 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. The firm had revenue of $290.39 million for the quarter, compared to analysts’ expectations of $276.76 million. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The firm’s revenue was down 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. As a group, equities research analysts predict that Cactus will post 3.04 earnings per share for the current fiscal year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.85%. This is a positive change from Cactus’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, August 26th. Cactus’s dividend payout ratio (DPR) is 20.72%.

Hedge Funds Weigh In On Cactus

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its position 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 buying an additional 217 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Cactus in the first quarter valued at $115,000. Covestor Ltd lifted its holdings in 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 acquiring an additional 1,795 shares during the period. Central Pacific Bank Trust Division acquired a new stake in Cactus in the first quarter valued at $182,000. Finally, Cim LLC acquired a new stake in Cactus in the second quarter valued at $219,000. 85.11% of the stock is currently owned by hedge funds and other 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.