Cactus, Inc. (NYSE:WHD) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Cactus, Inc. (NYSE:WHD) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $56.3333.

WHD has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a report on Monday, December 29th. Citigroup upped their target price on shares of Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler started coverage on shares of Cactus in a research note on Tuesday, February 24th. They set an “overweight” rating and a $73.00 price target on the stock. Zacks Research cut shares of Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Barclays upped their price objective on shares of Cactus from $56.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday.

Cactus Stock Performance

NYSE:WHD opened at $50.16 on Wednesday. Cactus has a 12 month low of $33.20 and a 12 month high of $59.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.81 and a quick ratio of 4.13. The firm has a market capitalization of $4.01 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 5.44 and a beta of 1.25. The business’s fifty day moving average price is $53.50 and its 200 day moving average price is $45.56.

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, topping the consensus estimate of $0.58 by $0.07. Cactus had a return on equity of 15.18% and a net margin of 15.39%.The business had revenue of $261.20 million during the quarter, compared to analysts’ expectations of $250.60 million. During the same period in the prior year, the firm posted $0.71 EPS. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Cactus will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 2nd will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, March 2nd. Cactus’s dividend payout ratio (DPR) is currently 23.33%.

Institutional Investors Weigh In On Cactus

Large investors have recently modified their holdings of the company. Maryland State Retirement & Pension System increased its holdings in shares of Cactus by 2.1% in the 4th quarter. Maryland State Retirement & Pension System now owns 10,066 shares of the company’s stock valued at $460,000 after acquiring an additional 208 shares during the period. Covestor Ltd increased its stake in Cactus by 8.6% in the fourth quarter. Covestor Ltd now owns 2,758 shares of the company’s stock valued at $126,000 after purchasing an additional 219 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Cactus by 67.6% in the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $25,000 after buying an additional 259 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Cactus by 0.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 57,938 shares of the company’s stock worth $2,532,000 after buying an additional 269 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Cactus by 1.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,734 shares of the company’s stock worth $719,000 after buying an additional 300 shares during the period. 85.11% of the stock is 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.