Cactus (NYSE:WHD) Shares Gap Up - Still a Buy?

Shares of Cactus, Inc. (NYSE:WHD - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $44.10, but opened at $45.65. Cactus shares last traded at $45.58, with a volume of 92,581 shares traded.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays upgraded Cactus from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $51.00 to $54.00 in a research note on Wednesday. JPMorgan Chase & Co. decreased 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. Finally, Stifel Nicolaus decreased their target price on Cactus from $61.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Cactus currently has an average rating of "Hold" and a consensus target price of $52.50.

Cactus Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.82 and a quick ratio of 2.67. The stock has a 50 day simple moving average of $40.35 and a two-hundred day simple moving average of $52.15. The company has a market cap of $3.59 billion, a PE ratio of 15.94, a PEG ratio of 5.13 and a beta of 1.50.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.03. Cactus had a return on equity of 20.24% and a net margin of 16.57%. The company had revenue of $280.32 million during the quarter, compared to analysts' expectations of $272.22 million. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts predict that Cactus, Inc. will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Monday, June 2nd. Cactus's dividend payout ratio (DPR) is presently 18.51%.

Institutional Investors Weigh In On Cactus

Several large investors have recently modified their holdings of the stock. Rhumbline Advisers raised its stake in shares of Cactus by 0.7% during the first quarter. Rhumbline Advisers now owns 195,038 shares of the company's stock worth $8,939,000 after purchasing an additional 1,270 shares during the last quarter. Strs Ohio purchased a new stake in shares of Cactus during the first quarter worth approximately $5,215,000. Intech Investment Management LLC raised its position in Cactus by 40.5% in the first quarter. Intech Investment Management LLC now owns 36,205 shares of the company's stock worth $1,659,000 after acquiring an additional 10,444 shares in the last quarter. Jane Street Group LLC boosted its holdings in Cactus by 482.7% during the first quarter. Jane Street Group LLC now owns 238,879 shares of the company's stock worth $10,948,000 after buying an additional 197,887 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Cactus by 26.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,931 shares of the company's stock valued at $10,400,000 after acquiring an additional 46,835 shares during the period. Hedge funds and other 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.