Cactus (NYSE:WHD) Given New $51.00 Price Target at Barclays

Cactus (NYSE:WHD) had its target price reduced by Barclays from $54.00 to $51.00 in a report published on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Stifel Nicolaus reduced their price objective on Cactus from $61.00 to $57.00 and set a “buy” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Cactus currently has an average rating of “Hold” and a consensus price target of $52.40.

Cactus Stock Performance

Shares of WHD opened at $40.96 on Friday. Cactus has a one year low of $33.80 and a one year high of $70.01. The company has a market cap of $3.26 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 5.13 and a beta of 1.50. The firm has a 50-day moving average of $42.80 and a 200-day moving average of $55.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67.

Cactus (NYSE:WHD) last announced its earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $280.32 million for the quarter, compared to analyst estimates of $272.22 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. As a group, equities analysts forecast that Cactus will post 3.08 earnings per share for the current year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be given a $0.13 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.27%. Cactus’s dividend payout ratio (DPR) is currently 18.51%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WHD. Oarsman Capital Inc. acquired a new position in shares of Cactus during the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC grew its holdings in shares of Cactus by 74.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 522 shares of the company’s stock valued at $30,000 after acquiring an additional 223 shares in the last quarter. Versant Capital Management Inc raised its position in Cactus by 165.4% in the fourth quarter. Versant Capital Management Inc now owns 576 shares of the company’s stock worth $34,000 after acquiring an additional 359 shares during the period. Jones Financial Companies Lllp lifted its holdings in Cactus by 66.9% during the fourth quarter. Jones Financial Companies Lllp now owns 841 shares of the company’s stock valued at $49,000 after purchasing an additional 337 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Cactus during the fourth quarter worth $76,000. 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.