Analysts Set Cactus, Inc. (NYSE:WHD) Target Price at $56.33

Cactus, Inc. (NYSE:WHD) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $56.3333.

WHD has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Cactus from $55.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. Piper Sandler began coverage on Cactus in a report on Tuesday, February 24th. They issued an “overweight” rating and a $73.00 price objective on the stock. Wall Street Zen upgraded Cactus from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Barclays raised their target price on Cactus from $56.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd.

Hedge Funds Weigh In On Cactus

A number of hedge funds have recently made changes to their positions in the stock. Salomon & Ludwin LLC acquired a new position in Cactus during the third quarter worth $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Cactus by 67.6% in the third quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock valued at $25,000 after buying an additional 259 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Cactus in the third quarter valued at $33,000. Aster Capital Management DIFC Ltd raised its holdings in shares of Cactus by 73.4% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 742 shares of the company’s stock valued at $34,000 after buying an additional 314 shares during the period. Finally, Huntington National Bank raised its holdings in shares of Cactus by 55.4% in the 3rd quarter. Huntington National Bank now owns 1,094 shares of the company’s stock valued at $43,000 after buying an additional 390 shares during the period. Hedge funds and other institutional investors own 85.11% of the company’s stock.

Cactus Price Performance

WHD stock opened at $50.01 on Wednesday. Cactus has a 1 year low of $33.20 and a 1 year high of $59.25. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.81 and a quick ratio of 4.13. The firm has a market capitalization of $3.99 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 4.98 and a beta of 1.25. The business has a 50 day simple moving average of $53.76 and a 200-day simple moving average of $45.70.

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

Cactus Dividend Announcement

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

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.