Stifel Nicolaus Issues Pessimistic Forecast for Cactus (NYSE:WHD) Stock Price

Cactus (NYSE:WHD) had its target price decreased by Stifel Nicolaus from $61.00 to $57.00 in a research report report published on Friday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Separately, Barclays dropped their target price on shares of Cactus from $61.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $52.40.

Cactus Stock Performance

NYSE WHD opened at $40.96 on Friday. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 5.13 and a beta of 1.50. The stock has a 50-day moving average of $42.80 and a 200 day moving average of $55.31. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. Cactus has a twelve month low of $33.80 and a twelve month high of $70.01.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The business had revenue of $280.32 million during the quarter, compared to the consensus estimate of $272.22 million. During the same period in the prior year, the company posted $0.75 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Sell-side analysts anticipate that Cactus will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.13 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.52 annualized dividend and a yield of 1.27%. Cactus’s dividend payout ratio (DPR) is presently 18.51%.

Institutional Investors Weigh In On Cactus

A number of hedge funds have recently modified their holdings of WHD. First Trust Advisors LP boosted its position in Cactus by 34.6% during the fourth quarter. First Trust Advisors LP now owns 1,556,565 shares of the company’s stock worth $90,841,000 after acquiring an additional 400,452 shares during the last quarter. Federated Hermes Inc. acquired a new position in shares of Cactus during the 4th quarter worth approximately $19,235,000. Raymond James Financial Inc. purchased a new stake in shares of Cactus in the fourth quarter valued at approximately $16,377,000. Point72 Asset Management L.P. acquired a new stake in shares of Cactus in the fourth quarter valued at approximately $14,285,000. Finally, Tudor Investment Corp ET AL lifted its position in Cactus by 487.1% during the fourth quarter. Tudor Investment Corp ET AL now owns 282,271 shares of the company’s stock worth $16,473,000 after buying an additional 234,191 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

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.