Cactus (NYSE:WHD) Shares Gap Down to $56.86

Cactus, Inc. (NYSE:WHD – Get Rating)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $56.86, but opened at $55.00. Cactus shares last traded at $55.07, with a volume of 23,101 shares changing hands.

Analyst Ratings Changes

WHD has been the subject of a number of analyst reports. Barclays lowered Cactus from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $52.00 to $48.00 in a research report on Thursday, October 6th. Bank of America boosted their price target on Cactus from $45.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 8th. Citigroup boosted their price target on Cactus from $47.00 to $58.00 in a research report on Sunday, November 13th. Finally, Morgan Stanley boosted their price target on Cactus from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, September 26th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cactus currently has an average rating of “Hold” and a consensus target price of $56.17.

Cactus Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 4.74 and a quick ratio of 3.51. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 0.38 and a beta of 1.93. The company has a fifty day moving average price of $52.44 and a two-hundred day moving average price of $45.52.

Cactus (NYSE:WHD – Get Rating) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. The business had revenue of $184.50 million during the quarter, compared to analyst estimates of $183.08 million. Cactus had a return on equity of 14.60% and a net margin of 14.94%. The company’s revenue was up 59.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 earnings per share. As a group, equities research analysts expect that Cactus, Inc. will post 1.78 EPS for the current year.

Cactus Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Monday, November 28th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, November 25th. Cactus’s dividend payout ratio (DPR) is presently 28.57%.

Institutional Investors Weigh In On Cactus

Institutional investors and hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its position in Cactus by 334.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,430,977 shares of the company’s stock valued at $54,993,000 after buying an additional 1,101,513 shares during the period. JPMorgan Chase & Co. raised its position in Cactus by 85.5% during the second quarter. JPMorgan Chase & Co. now owns 2,018,604 shares of the company’s stock valued at $81,289,000 after buying an additional 930,673 shares during the period. Invesco Ltd. raised its position in Cactus by 510.9% during the first quarter. Invesco Ltd. now owns 864,909 shares of the company’s stock valued at $49,075,000 after buying an additional 723,339 shares during the period. TimesSquare Capital Management LLC acquired a new position in Cactus during the second quarter valued at $25,613,000. Finally, Wellington Management Group LLP raised its position in Cactus by 53.5% during the first quarter. Wellington Management Group LLP now owns 1,352,737 shares of the company’s stock valued at $76,755,000 after buying an additional 471,418 shares during the period. 83.06% of the stock is owned by institutional investors and hedge funds.

Cactus Company Profile

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Cactus, Inc designs, manufactures, sells, and rents a range of wellheads and pressure control equipment in the United States, Australia, China, and the Kingdom of Saudi Arabia. The company's principal products include Cactus SafeDrill wellhead systems, Cactus SafeLink monobore, SafeClamp, and SafeInject systems, as well as frac stacks, zipper manifolds, and production trees.