Cactus (NYSE:WHD) Given New $63.00 Price Target at Citigroup

Cactus (NYSE:WHD) had its price objective boosted by Citigroup from $55.00 to $63.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Piper Sandler assumed coverage on Cactus in a research note on Tuesday, February 24th. They set an “overweight” rating and a $73.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a report on Monday, December 29th. Barclays upped their price objective on Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Zacks Research cut Cactus from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.33.

Cactus Price Performance

WHD stock opened at $50.16 on Tuesday. The company has a quick ratio of 4.13, a current ratio of 5.81 and a debt-to-equity ratio of 0.01. Cactus has a 12 month low of $33.20 and a 12 month high of $59.25. The firm has a market cap of $4.01 billion, a P/E ratio of 20.90, a P/E/G ratio of 5.44 and a beta of 1.25. The company’s 50-day moving average price is $53.50 and its two-hundred day moving average price is $45.56.

Cactus (NYSE:WHD) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $261.20 million during the quarter, compared to the consensus estimate of $250.60 million. Cactus had a net margin of 15.39% and a return on equity of 15.18%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 EPS. On average, analysts anticipate that Cactus will post 3.08 earnings per share for the current fiscal year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, March 2nd. Cactus’s payout ratio is 23.33%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WHD. State of Tennessee Department of Treasury increased its stake in shares of Cactus by 12.1% in the 4th quarter. State of Tennessee Department of Treasury now owns 35,452 shares of the company’s stock worth $1,619,000 after purchasing an additional 3,823 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in Cactus during the fourth quarter valued at about $335,000. Cim LLC bought a new stake in Cactus during the fourth quarter valued at about $218,000. Voloridge Investment Management LLC increased its position in Cactus by 25.9% in the fourth quarter. Voloridge Investment Management LLC now owns 74,035 shares of the company’s stock worth $3,382,000 after buying an additional 15,229 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Cactus by 20.0% in the fourth quarter. Wellington Management Group LLP now owns 3,963,961 shares of the company’s stock worth $181,074,000 after buying an additional 659,366 shares during the period. Institutional investors own 85.11% of the company’s stock.

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.