Cactus (NYSE:WHD) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of Cactus (NYSE:WHD) from a hold rating to a sell rating in a report published on Saturday.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus lowered their price target on shares of Cactus from $57.00 to $53.00 and set a “buy” rating for the company in a report on Friday, August 1st. Barclays restated an “overweight” rating and issued a $52.00 price objective (down from $53.00) on shares of Cactus in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Cactus from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Cactus presently has a consensus rating of “Hold” and a consensus target price of $50.75.

Cactus Trading Down 1.1%

NYSE:WHD opened at $39.29 on Friday. The company has a fifty day moving average of $43.81 and a 200 day moving average of $45.12. Cactus has a 52 week low of $33.80 and a 52 week high of $70.01. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $3.14 billion, a P/E ratio of 14.83, a P/E/G ratio of 3.73 and a beta of 1.48.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). Cactus had a net margin of 16.19% and a return on equity of 17.34%. The firm had revenue of $273.58 million for the quarter, compared to the consensus estimate of $280.28 million. During the same quarter in the prior year, the company earned $0.81 earnings per share. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, research analysts predict that Cactus will post 3.08 earnings per share for the current year.

Cactus Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 29th will be issued a $0.14 dividend. This is a boost from Cactus’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, August 29th. This represents a $0.56 annualized dividend and a yield of 1.4%. Cactus’s dividend payout ratio (DPR) is currently 19.62%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WHD. Balyasny Asset Management L.P. bought a new position in Cactus in the 2nd quarter worth $30,648,000. Millennium Management LLC purchased a new stake in shares of Cactus in the 1st quarter worth about $28,924,000. Encompass Capital Advisors LLC purchased a new stake in shares of Cactus in the 1st quarter worth about $27,457,000. Pacer Advisors Inc. grew its position in shares of Cactus by 10,002.6% in the 1st quarter. Pacer Advisors Inc. now owns 458,053 shares of the company’s stock worth $20,993,000 after buying an additional 453,519 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Cactus by 34.6% in the 4th quarter. First Trust Advisors LP now owns 1,556,565 shares of the company’s stock worth $90,841,000 after buying an additional 400,452 shares during the period. 85.11% of the stock is currently owned by 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.