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Cactus (NYSE:WHD) Hits New 52-Week Low - Here's Why

Cactus logo with Energy background

Key Points

  • Cactus, Inc. recently hit a new 52-week low, with shares trading as low as $33.52, down from a previous close of $35.95.
  • Analysts have provided mixed ratings, with Zacks Research downgrading the stock to "strong sell" and Wall Street Zen upgrading it to "hold," resulting in an average rating of "hold" with a target price of $50.75.
  • The company announced a quarterly dividend increase to $0.14 per share, representing an annual yield of 1.7% and a dividend payout ratio of 21.13%.
  • Five stocks to consider instead of Cactus.

Cactus, Inc. (NYSE:WHD - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The stock traded as low as $33.52 and last traded at $33.34, with a volume of 1152656 shares changing hands. The stock had previously closed at $35.95.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wall Street Zen upgraded Cactus from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Zacks Research cut Cactus from a "hold" rating to a "strong sell" rating in a research note on Monday, September 8th. Stifel Nicolaus reduced their target price on Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of Cactus in a research note on Wednesday. Finally, Barclays reiterated an "overweight" rating and set a $52.00 target price (down from $53.00) on shares of Cactus in a research note on Monday, August 4th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Cactus presently has an average rating of "Hold" and an average price target of $50.75.

View Our Latest Report on WHD

Cactus Stock Performance

The company has a current ratio of 4.85, a quick ratio of 3.48 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $40.07 and a 200-day moving average of $41.79. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 3.46 and a beta of 1.48.

Cactus (NYSE:WHD - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). Cactus had a return on equity of 17.34% and a net margin of 16.19%.The company had revenue of $273.58 million during the quarter, compared to analyst estimates of $280.28 million. During the same period in the prior year, the business earned $0.81 earnings per share. Cactus's quarterly revenue was down 5.8% on a year-over-year basis. On average, equities research analysts forecast that Cactus, Inc. will post 3.08 earnings per share for the current fiscal year.

Cactus Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, August 29th were given a $0.14 dividend. This is a boost from Cactus's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 29th. Cactus's dividend payout ratio is 21.13%.

Insiders Place Their Bets

In other Cactus news, EVP William D. Marsh sold 10,172 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $41.32, for a total value of $420,307.04. Following the sale, the executive vice president directly owned 11,088 shares of the company's stock, valued at $458,156.16. This trade represents a 47.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 13.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cactus

Several large investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. increased its holdings in shares of Cactus by 7.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,947,835 shares of the company's stock valued at $135,100,000 after purchasing an additional 195,496 shares during the period. State Street Corp increased its holdings in shares of Cactus by 0.7% during the second quarter. State Street Corp now owns 2,774,526 shares of the company's stock valued at $121,302,000 after purchasing an additional 18,104 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cactus by 2.6% during the second quarter. Geode Capital Management LLC now owns 1,912,393 shares of the company's stock valued at $83,618,000 after purchasing an additional 48,562 shares during the period. Wellington Management Group LLP increased its holdings in shares of Cactus by 12.1% during the first quarter. Wellington Management Group LLP now owns 1,508,103 shares of the company's stock valued at $69,116,000 after purchasing an additional 162,374 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Cactus by 5.2% during the second quarter. First Trust Advisors LP now owns 1,349,868 shares of the company's stock valued at $59,016,000 after purchasing an additional 66,591 shares during the period. 85.11% of the stock is owned by institutional investors and hedge funds.

Cactus Company Profile

(Get Free Report)

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.

See Also

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