Analysts Set Cactus, Inc. (NYSE:WHD) Target Price at $50.20

Shares of Cactus, Inc. (NYSE:WHD) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $50.20.

Several equities research analysts recently issued reports on WHD shares. Stifel Nicolaus raised their price objective on shares of Cactus from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Barclays increased their price target on shares of Cactus from $51.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, December 17th. Zacks Research upgraded shares of Cactus from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 30th. Bank of America raised shares of Cactus from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $39.00 to $40.00 in a research report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th.

Hedge Funds Weigh In On Cactus

A number of hedge funds and other institutional investors have recently bought and sold shares of WHD. Gilbert & Cook Inc. raised its position in Cactus by 2.0% in the 2nd quarter. Gilbert & Cook Inc. now owns 13,030 shares of the company’s stock valued at $570,000 after purchasing an additional 259 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Cactus by 67.6% during the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $25,000 after buying an additional 259 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Cactus by 0.5% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock valued at $2,532,000 after acquiring an additional 269 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Cactus by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 66,538 shares of the company’s stock worth $2,909,000 after purchasing an additional 306 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Cactus by 4.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,687 shares of the company’s stock valued at $384,000 after buying an additional 308 shares during the period. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

Cactus Stock Performance

Shares of WHD stock opened at $52.56 on Tuesday. The company has a current ratio of 5.28, a quick ratio of 3.74 and a debt-to-equity ratio of 0.01. Cactus has a 12-month low of $33.20 and a 12-month high of $65.35. The business’s 50 day moving average is $45.39 and its two-hundred day moving average is $42.63. The company has a market capitalization of $4.20 billion, a P/E ratio of 20.94, a P/E/G ratio of 5.28 and a beta of 1.26.

Cactus (NYSE:WHD) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.09. Cactus had a net margin of 15.86% and a return on equity of 16.02%. The firm had revenue of $263.95 million for the quarter, compared to analysts’ expectations of $253.89 million. During the same quarter last year, the company earned $0.74 EPS. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. Analysts expect that Cactus will post 3.08 EPS for the current fiscal year.

Cactus Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Monday, December 1st were given a dividend of $0.14 per share. The ex-dividend date was Monday, December 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.1%. Cactus’s dividend payout ratio (DPR) is currently 22.31%.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.