Barclays Cuts Cactus (NYSE:WHD) Price Target to $54.00

Cactus (NYSE:WHD) had its price target trimmed by Barclays from $61.00 to $54.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Cactus Price Performance

WHD stock opened at $47.36 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.67 and a current ratio of 3.82. Cactus has a 1 year low of $45.94 and a 1 year high of $70.01. The firm has a market cap of $3.77 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 5.13 and a beta of 1.97. The stock has a 50-day simple moving average of $59.11 and a 200-day simple moving average of $60.74.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). The business had revenue of $272.12 million during the quarter, compared to analysts’ expectations of $277.59 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. On average, equities analysts predict that Cactus will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Monday, March 3rd. Cactus’s dividend payout ratio is presently 18.84%.

Institutional Trading of Cactus

Hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp increased its position in Cactus by 120.1% in the 4th quarter. Mackenzie Financial Corp now owns 9,237 shares of the company’s stock valued at $539,000 after acquiring an additional 5,040 shares during the period. Vise Technologies Inc. acquired a new stake in Cactus in the 4th quarter valued at approximately $254,000. Castleark Management LLC acquired a new stake in Cactus in the 4th quarter valued at approximately $1,021,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Cactus by 24.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,096 shares of the company’s stock valued at $10,510,000 after acquiring an additional 35,162 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in Cactus in the 4th quarter valued at approximately $1,125,000. 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.