Cactus (NYSE:WHD) Price Target Raised to $63.00

Cactus (NYSE:WHD) had its target price increased by Citigroup from $55.00 to $63.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently commented on WHD. Piper Sandler began coverage on shares of Cactus in a report on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Cactus in a research note on Monday, December 29th. Zacks Research downgraded Cactus from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Finally, Barclays increased their target price on Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cactus currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.33.

Cactus Price Performance

Shares of WHD stock opened at $50.74 on Tuesday. Cactus has a 12 month low of $33.20 and a 12 month high of $59.25. The company has a market capitalization of $4.05 billion, a P/E ratio of 21.14, a P/E/G ratio of 4.91 and a beta of 1.25. The stock has a 50 day moving average of $53.68 and a two-hundred day moving average of $45.62. The company has a current ratio of 5.81, a quick ratio of 4.13 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The business had revenue of $261.20 million for the quarter, compared to analysts’ expectations of $250.60 million. Cactus had a return on equity of 15.18% and a net margin of 15.39%.Cactus’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 earnings per share. As a group, equities analysts expect that Cactus will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 2nd will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, March 2nd. Cactus’s dividend payout ratio (DPR) is presently 23.33%.

Hedge Funds Weigh In On Cactus

A number of large investors have recently modified their holdings of WHD. Wellington Management Group LLP boosted its position in shares of Cactus by 52.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,304,595 shares of the company’s stock worth $130,432,000 after purchasing an additional 1,141,249 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Cactus in the second quarter valued at about $30,648,000. Capital International Investors boosted its holdings in Cactus by 27.0% during the fourth quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock worth $107,062,000 after buying an additional 498,210 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of Cactus during the 3rd quarter worth about $19,563,000. Finally, Franklin Resources Inc. increased its stake in shares of Cactus by 559.4% in the 4th quarter. Franklin Resources Inc. now owns 544,998 shares of the company’s stock valued at $24,896,000 after acquiring an additional 462,345 shares during the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.

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