Cactus (NYSE:WHD) Downgraded to Equal Weight Rating by Barclays

Barclays cut shares of Cactus (NYSE:WHD) from an overweight rating to an equal weight rating in a report published on Monday morning, Marketbeat.com reports. Barclays currently has $61.00 price objective on the stock.

Several other equities research analysts have also commented on WHD. Piper Sandler lowered their price target on shares of Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Citigroup boosted their price target on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Stifel Nicolaus dropped their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Finally, Bank of America increased their price target on shares of Cactus from $44.00 to $48.00 and gave the stock an “underperform” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.40.

Cactus Stock Performance

Shares of Cactus stock opened at $66.16 on Monday. The firm has a market capitalization of $5.26 billion, a P/E ratio of 23.46, a PEG ratio of 2.92 and a beta of 1.95. Cactus has a 52 week low of $37.58 and a 52 week high of $69.77. The company has a quick ratio of 2.67, a current ratio of 3.82 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average price of $60.12 and a 200 day moving average price of $56.25.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The firm had revenue of $293.18 million for the quarter, compared to analyst estimates of $287.47 million. During the same period in the previous year, the company earned $0.80 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. Sell-side analysts expect that Cactus will post 3.05 EPS for the current year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Monday, December 2nd. Cactus’s dividend payout ratio is presently 18.44%.

Insider Transactions at Cactus

In related news, CEO Stephen Tadlock sold 33,500 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $61.35, for a total transaction of $2,055,225.00. Following the completion of the sale, the chief executive officer now directly owns 36,357 shares in the company, valued at approximately $2,230,501.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 16.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WHD. Pacer Advisors Inc. purchased a new position in Cactus during the second quarter worth approximately $122,623,000. Makaira Partners LLC raised its holdings in shares of Cactus by 399.6% during the 2nd quarter. Makaira Partners LLC now owns 499,581 shares of the company’s stock worth $26,348,000 after acquiring an additional 399,581 shares during the period. Principal Financial Group Inc. boosted its position in shares of Cactus by 3,604.5% during the 2nd quarter. Principal Financial Group Inc. now owns 326,518 shares of the company’s stock valued at $17,221,000 after acquiring an additional 317,704 shares during the last quarter. Barlow Wealth Partners Inc. purchased a new stake in shares of Cactus in the second quarter valued at about $14,553,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Cactus by 179.2% in the second quarter. Renaissance Technologies LLC now owns 238,700 shares of the company’s stock valued at $12,589,000 after purchasing an additional 153,200 shares during the period. 85.11% of the stock is currently owned by institutional investors and hedge funds.

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.