Cactus, Inc. (NYSE:WHD) Receives Average Recommendation of “Hold” from Brokerages

Cactus, Inc. (NYSE:WHD) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $54.00.

WHD has been the subject of a number of recent research reports. Piper Sandler cut their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Johnson Rice downgraded shares of Cactus from a “buy” rating to an “accumulate” rating in a research report on Friday, May 31st. Barclays boosted their price objective on shares of Cactus from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Citigroup raised their target price on Cactus from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th.

Cactus Stock Down 1.1 %

Shares of Cactus stock opened at $62.79 on Tuesday. Cactus has a twelve month low of $37.58 and a twelve month high of $64.96. The company has a quick ratio of 2.59, a current ratio of 3.75 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $59.04 and its 200 day moving average is $53.65. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 2.15 and a beta of 1.95.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The firm had revenue of $290.39 million for the quarter, compared to the consensus estimate of $276.76 million. During the same period last year, the business posted $0.84 EPS. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. Research analysts anticipate that Cactus will post 3.03 EPS for the current year.

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Monday, August 26th. This is a positive change from Cactus’s previous quarterly dividend of $0.12. Cactus’s dividend payout ratio is presently 20.72%.

Hedge Funds Weigh In On Cactus

A number of hedge funds have recently made changes to their positions in the business. Cim LLC purchased a new position in Cactus in the 2nd quarter worth approximately $219,000. Dana Investment Advisors Inc. boosted its position in shares of Cactus by 0.6% during the second quarter. Dana Investment Advisors Inc. now owns 31,807 shares of the company’s stock worth $1,678,000 after acquiring an additional 202 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in Cactus by 22.3% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 66,434 shares of the company’s stock valued at $3,504,000 after acquiring an additional 12,119 shares in the last quarter. Truist Financial Corp increased its holdings in Cactus by 15.0% in the 2nd quarter. Truist Financial Corp now owns 5,618 shares of the company’s stock valued at $296,000 after acquiring an additional 733 shares during the last quarter. Finally, Makaira Partners LLC increased its holdings in Cactus by 399.6% in the 2nd quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock valued at $26,348,000 after acquiring an additional 399,581 shares during the last quarter. Institutional investors own 85.11% of the company’s stock.

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.