Stifel Nicolaus Lowers Cactus (NYSE:WHD) Price Target to $67.00

Cactus (NYSE:WHD) had its price target cut by Stifel Nicolaus from $69.00 to $67.00 in a research note released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently weighed in on WHD. Piper Sandler cut their target price on Cactus from $55.00 to $54.00 and set a neutral rating for the company in a research report on Monday, July 15th. Barclays increased their price objective on Cactus from $56.00 to $61.00 and gave the stock an overweight rating in a research note 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 research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $56.40.

Cactus Stock Performance

WHD stock opened at $62.93 on Friday. The company has a market capitalization of $5.01 billion, a P/E ratio of 25.07, a PEG ratio of 2.29 and a beta of 1.95. The company has a 50-day simple moving average of $59.61 and a 200 day simple moving average of $55.07. Cactus has a fifty-two week low of $37.58 and a fifty-two week 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.

Cactus (NYSE:WHD) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.72 by $0.09. Cactus had a return on equity of 21.22% and a net margin of 16.88%. The business had revenue of $290.39 million during the quarter, compared to analysts’ expectations of $276.76 million. During the same quarter in the previous year, the business posted $0.84 EPS. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. Sell-side analysts predict that Cactus will post 3.04 earnings per share for the current fiscal year.

Cactus Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a $0.13 dividend. The ex-dividend date was Monday, August 26th. This is an increase from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 0.83%. Cactus’s dividend payout ratio (DPR) is currently 20.72%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Cactus by 27.5% in the 1st quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock valued at $50,000 after buying an additional 217 shares during the period. SG Americas Securities LLC acquired a new position in shares of Cactus in the 1st quarter valued at $115,000. Covestor Ltd grew its holdings in shares of Cactus by 251.8% in the 1st quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $126,000 after buying an additional 1,795 shares during the period. Central Pacific Bank Trust Division acquired a new position in Cactus in the 1st quarter worth $182,000. Finally, Cim LLC acquired a new position in Cactus in the 2nd quarter worth $219,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

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.