Several other research firms have also issued reports on WHD. Citigroup dropped their price objective on Cactus from $38.00 to $37.00 and set a buy rating for the company in a research note on Monday, September 23rd. Barclays reaffirmed a buy rating and issued a $35.00 price target on shares of Cactus in a report on Friday, November 1st. Zacks Investment Research raised Cactus from a strong sell rating to a hold rating in a report on Sunday, November 3rd. Wolfe Research began coverage on Cactus in a research report on Wednesday, November 27th. They set a market perform rating and a $33.00 price target for the company. Finally, Morgan Stanley cut their price objective on Cactus from $40.00 to $35.00 and set an overweight rating for the company in a report on Monday, October 7th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Cactus presently has a consensus rating of Buy and a consensus price target of $38.20.
Shares of NYSE:WHD opened at $29.67 on Tuesday. The company has a 50 day moving average of $29.58 and a 200 day moving average of $29.83. The stock has a market cap of $2.23 billion, a P/E ratio of 16.67, a P/E/G ratio of 3.33 and a beta of 1.17. Cactus has a 12 month low of $24.23 and a 12 month high of $40.68. The company has a current ratio of 4.32, a quick ratio of 3.07 and a debt-to-equity ratio of 0.05.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.36 dividend on an annualized basis and a yield of 1.21%. Cactus’s payout ratio is 20.22%.
Hedge funds have recently modified their holdings of the business. Parallel Advisors LLC bought a new stake in Cactus in the 2nd quarter worth approximately $36,000. US Bancorp DE lifted its holdings in shares of Cactus by 20.8% in the 2nd quarter. US Bancorp DE now owns 2,961 shares of the company’s stock worth $98,000 after acquiring an additional 510 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Cactus by 87.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,387 shares of the company’s stock valued at $112,000 after purchasing an additional 1,582 shares in the last quarter. New York State Teachers Retirement System boosted its stake in shares of Cactus by 24.2% in the 3rd quarter. New York State Teachers Retirement System now owns 4,100 shares of the company’s stock valued at $119,000 after purchasing an additional 800 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Cactus by 998.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,813 shares of the company’s stock valued at $197,000 after purchasing an additional 6,193 shares during the last quarter. 65.55% of the stock is owned by hedge funds and other institutional investors.
Cactus Company Profile
Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment. The company's principal products include Cactus SafeDrill wellhead systems, frac stacks, zipper manifolds, and production trees. It also provides field services, such as 24-hour service crews to assist with the installation, maintenance, and safe handling of the wellhead and pressure control equipment, as well as repair services for equipment that it sells or rents.
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