Cactus (NYSE:WHD) Given New $53.00 Price Target at Barclays

Cactus (NYSE:WHD) had its target price trimmed by Barclays from $54.00 to $53.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also issued reports about the company. Stifel Nicolaus cut their price target on Cactus from $61.00 to $57.00 and set a “buy” rating for the company in a report on Friday, May 2nd. JPMorgan Chase & Co. cut 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $52.33.

Cactus Stock Down 0.9%

Shares of Cactus stock opened at $45.10 on Friday. Cactus has a 12-month low of $33.80 and a 12-month high of $70.01. The stock has a market capitalization of $3.60 billion, a P/E ratio of 16.05 and a beta of 1.49. The stock has a 50 day moving average price of $41.85 and a two-hundred day moving average price of $50.36. The company has a quick ratio of 3.47, a current ratio of 4.85 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Cactus had a return on equity of 18.99% and a net margin of 16.78%. The company had revenue of $280.32 million during the quarter, compared to analyst estimates of $272.22 million. During the same period in the previous year, the company earned $0.75 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts expect that Cactus will post 3.08 earnings per share for the current year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Monday, June 2nd were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.15%. Cactus’s payout ratio is 18.51%.

Institutional Trading of Cactus

A number of large investors have recently bought and sold shares of the stock. Illinois Municipal Retirement Fund grew its position in Cactus by 0.5% in the fourth quarter. Illinois Municipal Retirement Fund now owns 37,412 shares of the company’s stock valued at $2,183,000 after acquiring an additional 169 shares during the period. State of Tennessee Department of Treasury grew its position in Cactus by 0.5% in the fourth quarter. State of Tennessee Department of Treasury now owns 35,828 shares of the company’s stock valued at $2,091,000 after acquiring an additional 177 shares during the period. O Shaughnessy Asset Management LLC grew its position in Cactus by 1.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 10,382 shares of the company’s stock valued at $606,000 after acquiring an additional 180 shares during the period. New York State Teachers Retirement System grew its position in Cactus by 1.3% in the fourth quarter. New York State Teachers Retirement System now owns 15,700 shares of the company’s stock valued at $916,000 after acquiring an additional 200 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Cactus by 74.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 522 shares of the company’s stock valued at $30,000 after acquiring an additional 223 shares during the period. 85.11% of the stock is currently owned by institutional investors.

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.