Cactus (NYSE:WHD) Stock Price Down 2.5%

Shares of Cactus, Inc. (NYSE:WHDGet Rating) dropped 2.5% during trading on Wednesday . The company traded as low as $53.60 and last traded at $53.82. Approximately 172 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 414,661 shares. The stock had previously closed at $55.20.

Analysts Set New Price Targets

WHD has been the subject of a number of research analyst reports. Barclays lowered shares of Cactus from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $52.00 to $48.00 in a research note on Thursday, October 6th. Citigroup boosted their target price on shares of Cactus from $47.00 to $58.00 in a research report on Sunday, November 13th. Bank of America boosted their target price on shares of Cactus from $45.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, November 8th. Finally, Morgan Stanley boosted their target price on shares of Cactus from $50.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, September 26th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Cactus currently has an average rating of “Hold” and a consensus price target of $56.17.

Cactus Trading Down 2.8 %

The stock’s fifty day moving average price is $47.43 and its 200 day moving average price is $44.62. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.74 and a quick ratio of 3.51. The stock has a market capitalization of $4.07 billion, a P/E ratio of 34.86, a PEG ratio of 0.52 and a beta of 1.96.

Cactus (NYSE:WHDGet Rating) last issued its earnings results on Monday, November 7th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. Cactus had a net margin of 14.94% and a return on equity of 14.60%. The company had revenue of $184.50 million for the quarter, compared to analysts’ expectations of $183.08 million. During the same period in the prior year, the business earned $0.19 EPS. The firm’s quarterly revenue was up 59.9% on a year-over-year basis. Research analysts forecast that Cactus, Inc. will post 1.78 earnings per share for the current year.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, November 28th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, November 25th. Cactus’s payout ratio is 28.57%.

Hedge Funds Weigh In On Cactus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Cactus by 4.8% in the third quarter. Vanguard Group Inc. now owns 5,829,515 shares of the company’s stock valued at $224,027,000 after purchasing an additional 269,339 shares in the last quarter. BlackRock Inc. boosted its holdings in Cactus by 2.4% in the first quarter. BlackRock Inc. now owns 3,987,233 shares of the company’s stock valued at $226,236,000 after purchasing an additional 94,603 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Cactus by 14.0% in the first quarter. Van ECK Associates Corp now owns 2,986,223 shares of the company’s stock valued at $169,438,000 after purchasing an additional 365,851 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Cactus by 85.5% in the second quarter. JPMorgan Chase & Co. now owns 2,018,604 shares of the company’s stock valued at $81,289,000 after purchasing an additional 930,673 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Cactus by 0.4% in the first quarter. Clearbridge Investments LLC now owns 2,000,859 shares of the company’s stock valued at $113,529,000 after purchasing an additional 7,096 shares in the last quarter. 83.96% of the stock is owned by institutional investors and hedge funds.

Cactus Company Profile

(Get Rating)

Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.

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