Cactus (NYSE:WHD) Price Target Cut to $53.00 by Analysts at Stifel Nicolaus

Key Points

• Cactus (NYSE: WHD) had its price target cut from $57.00 to $53.00 by analysts at Stifel Nicolaus, while maintaining a "buy" rating on the stock.
• JPMorgan Chase & Co. and Barclays also lowered their price targets for Cactus, indicating a trend of decreasing valuations among analysts.
• During recent trading, Cactus shares traded down $2.43, reaching a price of $39.88, with the company reporting earnings that missed analyst expectations.

Cactus (NYSE:WHD - Free Report) had its price target trimmed by Stifel Nicolaus from $57.00 to $53.00 in a report issued on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also commented on WHD. JPMorgan Chase & Co. cut their target price on Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Barclays dropped their price objective on shares of Cactus from $54.00 to $53.00 and set an "overweight" rating for the company in a research note on Friday, June 20th.

Cactus Stock Performance

WHD stock traded up $0.56 on Friday, reaching $40.40. 748,445 shares of the company were exchanged, compared to its average volume of 722,679. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.85 and a quick ratio of 3.48. The firm has a market capitalization of $3.22 billion, a PE ratio of 15.25, a PEG ratio of 3.62 and a beta of 1.48. The stock's fifty day moving average price is $44.57 and its 200 day moving average price is $46.72. Cactus has a 12 month low of $33.80 and a 12 month high of $70.01.

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

Cactus Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 29th will be paid a $0.14 dividend. This is an increase from Cactus's previous quarterly dividend of $0.13. The ex-dividend date is Friday, August 29th. This represents a $0.56 annualized dividend and a yield of 1.4%. Cactus's dividend payout ratio (DPR) is 19.62%.

Institutional Investors Weigh In On Cactus

Several hedge funds have recently added to or reduced their stakes in the business. Oarsman Capital Inc. bought a new stake in shares of Cactus in the fourth quarter valued at about $26,000. Advisors Asset Management Inc. raised its stake in Cactus by 113.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,020 shares of the company's stock worth $47,000 after purchasing an additional 543 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Cactus in the 1st quarter worth about $57,000. Financial Harvest LLC bought a new stake in Cactus in the 1st quarter valued at about $130,000. Finally, CWM LLC grew its position in shares of Cactus by 131.7% during the 2nd quarter. CWM LLC now owns 2,966 shares of the company's stock worth $130,000 after purchasing an additional 1,686 shares in the last quarter. Institutional investors and hedge funds own 85.11% of the company's stock.

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.