Cactus (NYSE:WHD – Free Report) had its price objective trimmed by JPMorgan Chase & Co. from $52.00 to $50.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.
Several other equities research analysts have also weighed in on WHD. Barclays lowered their target price on shares of Cactus from $54.00 to $51.00 and set an “equal weight” rating on the stock in a report on Friday, May 2nd. Stifel Nicolaus decreased their price objective on shares of Cactus from $61.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Cactus presently has a consensus rating of “Hold” and an average price target of $52.00.
Read Our Latest Stock Analysis on WHD
Cactus Stock Down 2.2%
Cactus (NYSE:WHD – Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $280.32 million for the quarter, compared to analyst estimates of $272.22 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 EPS. On average, analysts anticipate that Cactus will post 3.08 EPS for the current year.
Cactus Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, June 2nd. Cactus’s dividend payout ratio (DPR) is 18.51%.
Institutional Trading of Cactus
Hedge funds have recently added to or reduced their stakes in the business. Oarsman Capital Inc. acquired a new position in Cactus in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of Cactus by 74.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 522 shares of the company’s stock valued at $30,000 after purchasing an additional 223 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock valued at $47,000 after purchasing an additional 543 shares during the period. Jones Financial Companies Lllp increased its stake in Cactus by 66.9% during the 4th quarter. Jones Financial Companies Lllp now owns 841 shares of the company’s stock worth $49,000 after purchasing an additional 337 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Cactus during the 1st quarter worth approximately $57,000. 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.
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