Barclays Has Lowered Expectations for Cactus (NYSE:WHD) Stock Price

Cactus (NYSE:WHD) had its price objective trimmed by Barclays from $54.00 to $51.00 in a report issued on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Separately, Stifel Nicolaus decreased their price target on Cactus from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cactus has an average rating of “Hold” and a consensus price target of $52.40.

Cactus Trading Up 3.2 %

Shares of NYSE:WHD opened at $40.96 on Friday. The stock has a 50 day moving average of $42.80 and a 200 day moving average of $55.31. The company has a market cap of $3.26 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 5.13 and a beta of 1.50. Cactus has a 12-month low of $33.80 and a 12-month high of $70.01. The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The business had revenue of $280.32 million during the quarter, compared to analyst estimates of $272.22 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, equities research analysts expect that Cactus will post 3.08 EPS for the current year.

Cactus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, June 2nd. Cactus’s dividend payout ratio (DPR) is presently 18.51%.

Institutional Investors Weigh In On Cactus

Several large investors have recently made changes to their positions in the company. Oarsman Capital Inc. purchased a new position in Cactus during the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its holdings in shares of Cactus by 74.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 522 shares of the company’s stock worth $30,000 after acquiring an additional 223 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Cactus by 165.4% during the 4th quarter. Versant Capital Management Inc now owns 576 shares of the company’s stock valued at $34,000 after acquiring an additional 359 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Cactus by 66.9% in the fourth quarter. Jones Financial Companies Lllp now owns 841 shares of the company’s stock valued at $49,000 after purchasing an additional 337 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Cactus in the fourth quarter worth $76,000. 85.11% of the stock is owned by institutional investors.

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.