Cactus (NYSE:WHD) Trading 4.3% Higher – Here’s What Happened

Cactus, Inc. (NYSE:WHD) shares were up 4.3% on Thursday . The stock traded as high as $37.93 and last traded at $37.76. Approximately 215,820 shares changed hands during trading, a decline of 72% from the average daily volume of 772,478 shares. The stock had previously closed at $36.19.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Barclays cut their price target on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating for the company in a report on Wednesday, March 5th. Stifel Nicolaus dropped their target price on shares of Cactus from $64.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Cactus has an average rating of “Hold” and an average target price of $53.80.

Cactus Stock Performance

The company has a fifty day moving average price of $46.97 and a two-hundred day moving average price of $56.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The company has a market capitalization of $3.00 billion, a P/E ratio of 13.38, a PEG ratio of 5.13 and a beta of 1.74.

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

Cactus Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.38%. The ex-dividend date was Monday, March 3rd. Cactus’s payout ratio is presently 18.84%.

Institutional Investors Weigh In On Cactus

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Emerald Advisers LLC boosted its holdings in Cactus by 20.6% in the fourth quarter. Emerald Advisers LLC now owns 307,315 shares of the company’s stock valued at $17,935,000 after acquiring an additional 52,552 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Cactus by 4.4% during the fourth quarter. Principal Financial Group Inc. now owns 357,313 shares of the company’s stock worth $20,853,000 after buying an additional 15,035 shares during the period. JPMorgan Chase & Co. increased its position in shares of Cactus by 1.7% during the third quarter. JPMorgan Chase & Co. now owns 3,102,984 shares of the company’s stock worth $185,155,000 after buying an additional 52,085 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Cactus by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 701,485 shares of the company’s stock valued at $40,939,000 after buying an additional 13,669 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Cactus in the fourth quarter valued at $16,377,000. Institutional investors and hedge funds own 85.11% of the company’s stock.

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.