Cactus (NYSE:WHD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Cactus (NYSE:WHD) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other research firms have also recently weighed in on WHD. Stifel Nicolaus lowered their price target on Cactus from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Friday, August 1st. JPMorgan Chase & Co. lowered their price target on Cactus from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. Finally, Barclays reissued an “overweight” rating and set a $52.00 price objective (down from $53.00) on shares of Cactus in a report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Cactus presently has a consensus rating of “Hold” and an average target price of $50.75.

Cactus Stock Performance

NYSE:WHD opened at $41.95 on Friday. The business’s 50-day moving average price is $42.84 and its two-hundred day moving average price is $43.79. Cactus has a twelve month low of $33.80 and a twelve month high of $70.01. The stock has a market cap of $3.35 billion, a P/E ratio of 15.83, a PEG ratio of 3.95 and a beta of 1.53. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). Cactus had a net margin of 16.19% and a return on equity of 17.34%. The business had revenue of $273.58 million during the quarter, compared to analysts’ expectations of $280.28 million. During the same period in the previous year, the business earned $0.81 EPS. The business’s revenue was down 5.8% on a year-over-year basis. As a group, equities analysts predict that Cactus will post 3.08 EPS for the current fiscal year.

Cactus Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 29th will be paid a $0.14 dividend. This is an increase from Cactus’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. Cactus’s payout ratio is presently 21.13%.

Hedge Funds Weigh In On Cactus

Large investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its stake in Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company’s stock worth $47,000 after purchasing an additional 543 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Cactus in the 1st quarter worth approximately $57,000. Financial Harvest LLC purchased a new position in Cactus in the 1st quarter worth approximately $130,000. CWM LLC increased its stake in Cactus by 131.7% in the 2nd quarter. CWM LLC now owns 2,966 shares of the company’s stock worth $130,000 after purchasing an additional 1,686 shares during the period. Finally, KBC Group NV increased its stake in Cactus by 11.9% in the 1st quarter. KBC Group NV now owns 3,373 shares of the company’s stock worth $155,000 after purchasing an additional 360 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Company Profile

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.