Barclays Cuts Cactus (NYSE:WHD) Price Target to $53.00

Cactus (NYSE:WHD - Free Report) had its target price cut by Barclays from $54.00 to $53.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also issued reports on WHD. Stifel Nicolaus cut their target price on Cactus from $61.00 to $57.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. cut their target price on Cactus from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Cactus has a consensus rating of "Hold" and a consensus price target of $52.33.

Cactus Stock Down 2.6%

Cactus stock traded down $1.17 during midday trading on Friday, hitting $43.89. 718,730 shares of the company were exchanged, compared to its average volume of 707,788. The company's fifty day moving average price is $41.98 and its 200-day moving average price is $50.00. The company has a market cap of $3.50 billion, a PE ratio of 15.62 and a beta of 1.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.47. Cactus has a fifty-two week low of $33.80 and a fifty-two week high of $70.01.

Cactus (NYSE:WHD - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. The firm had revenue of $280.32 million for the quarter, compared to analyst estimates of $272.22 million. Cactus had a return on equity of 18.99% and a net margin of 16.78%. Cactus's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS. On average, research analysts predict that Cactus will post 3.08 EPS for the current fiscal year.

Cactus Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 2nd were issued a $0.13 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.18%. Cactus's dividend payout ratio (DPR) is 18.51%.

Institutional Investors Weigh In On Cactus

A number of institutional investors have recently made changes to their positions in WHD. Millennium Management LLC bought a new stake in shares of Cactus in the 1st quarter valued at approximately $28,924,000. Encompass Capital Advisors LLC bought a new stake in shares of Cactus in the 1st quarter valued at approximately $27,457,000. Pacer Advisors Inc. grew its stake in Cactus by 10,002.6% during the 1st quarter. Pacer Advisors Inc. now owns 458,053 shares of the company's stock worth $20,993,000 after buying an additional 453,519 shares during the last quarter. First Trust Advisors LP grew its stake in Cactus by 34.6% during the 4th quarter. First Trust Advisors LP now owns 1,556,565 shares of the company's stock worth $90,841,000 after buying an additional 400,452 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in Cactus during the 4th quarter worth $19,235,000. 85.11% of the stock is currently owned by institutional investors.

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.