Cactus (NYSE:WHD) Raised to "Hold" at Wall Street Zen

Key Points

• Cactus (NYSE:WHD) has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a more neutral outlook on the stock's performance.
• Current analysts' consensus rating for Cactus remains a "hold" with a target price of $50.75, with mixed responses from various firms reducing their price targets.
• The company reported a quarterly earnings per share of $0.66, falling short of analysts' expectations, and a revenue decline of 5.8% compared to the previous year.

Wall Street Zen upgraded shares of Cactus (NYSE:WHD - Free Report) from a sell rating to a hold rating in a research note published on Saturday morning.

WHD has been the subject of several other research reports. Stifel Nicolaus reduced their price objective on shares of Cactus from $57.00 to $53.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Barclays reaffirmed an "overweight" rating and set a $52.00 price objective (down previously from $53.00) on shares of Cactus in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Cactus from $52.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Cactus presently has a consensus rating of "Hold" and a consensus price target of $50.75.

Cactus Trading Up 0.1%

Shares of WHD stock traded up $0.05 during trading hours on Friday, hitting $41.95. 563,273 shares of the company were exchanged, compared to its average volume of 665,251. The firm has a market cap of $3.35 billion, a P/E ratio of 15.83, a P/E/G ratio of 3.95 and a beta of 1.53. Cactus has a fifty-two week low of $33.80 and a fifty-two week high of $70.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.48 and a current ratio of 4.85. The company has a 50 day simple moving average of $42.84 and a two-hundred day simple moving average of $43.79.

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 the consensus estimate of $0.67 by ($0.01). The company had revenue of $273.58 million for the quarter, compared to analyst estimates of $280.28 million. Cactus had a return on equity of 17.34% and a net margin of 16.19%.The business's quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.81 EPS. Equities analysts anticipate that Cactus will post 3.08 EPS for the current year.

Cactus Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.14 per share. This is a boost from Cactus's previous quarterly dividend of $0.13. The ex-dividend date is Friday, August 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. Cactus's dividend payout ratio (DPR) is presently 21.13%.

Institutional Trading of Cactus

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake in shares of Cactus by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 365,477 shares of the company's stock worth $16,750,000 after acquiring an additional 8,164 shares in the last quarter. KBC Group NV grew its stake in shares of Cactus by 11.9% in the 1st quarter. KBC Group NV now owns 3,373 shares of the company's stock worth $155,000 after acquiring an additional 360 shares in the last quarter. SG Americas Securities LLC grew its position in Cactus by 535.8% during the first quarter. SG Americas Securities LLC now owns 14,413 shares of the company's stock valued at $661,000 after buying an additional 12,146 shares during the period. Aigen Investment Management LP bought a new position in Cactus during the first quarter valued at about $376,000. Finally, Wellington Management Group LLP grew its position in 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 buying an additional 162,374 shares during the period. Institutional investors own 85.11% of the company's stock.

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.