Cactus’ (WHD) Hold (C) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their hold (c) rating on shares of Cactus (NYSE:WHD) in a research note published on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued reports about the company. Stifel Nicolaus decreased their price objective on Cactus from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, August 1st. Barclays reiterated an “overweight” rating and issued a $52.00 price objective (down from $53.00) on shares of Cactus in a research report on Monday, August 4th. Wall Street Zen upgraded Cactus from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Zacks Research cut Cactus from a “hold” rating to a “strong sell” rating in a research note on Monday, September 8th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Cactus presently has a consensus rating of “Hold” and an average price target of $50.75.

Cactus Price Performance

Shares of WHD opened at $33.27 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.48 and a current ratio of 4.85. The stock has a 50 day simple moving average of $39.94 and a 200 day simple moving average of $41.70. Cactus has a 52-week low of $33.20 and a 52-week high of $70.01. The firm has a market capitalization of $2.66 billion, a PE ratio of 12.55, a P/E/G ratio of 3.39 and a beta of 1.48.

Cactus (NYSE:WHD) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). Cactus had a net margin of 16.19% and a return on equity of 17.34%. The business had revenue of $273.58 million during the quarter, compared to analyst estimates of $280.28 million. During the same quarter in the prior year, the firm posted $0.81 earnings per share. Cactus’s revenue for the quarter was down 5.8% compared to the same quarter last year. Sell-side analysts predict that Cactus will post 3.08 EPS for the current fiscal year.

Cactus Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, August 29th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, August 29th. This is a positive change from Cactus’s previous quarterly dividend of $0.13. Cactus’s dividend payout ratio (DPR) is presently 21.13%.

Insider Buying and Selling

In other Cactus news, EVP William D. Marsh sold 10,172 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $41.32, for a total value of $420,307.04. Following the sale, the executive vice president owned 11,088 shares in the company, valued at approximately $458,156.16. The trade was a 47.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.75% of the company’s stock.

Institutional Investors Weigh In On Cactus

A number of institutional investors and hedge funds have recently made changes to their positions in WHD. Wealth Enhancement Advisory Services LLC raised its stake in shares of Cactus by 5.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,133 shares of the company’s stock worth $300,000 after purchasing an additional 269 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Cactus by 3,480.1% during the 1st quarter. GAMMA Investing LLC now owns 91,293 shares of the company’s stock worth $4,184,000 after purchasing an additional 88,743 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Cactus by 0.7% during the 1st quarter. Rhumbline Advisers now owns 195,038 shares of the company’s stock worth $8,939,000 after purchasing an additional 1,270 shares in the last quarter. Portside Wealth Group LLC raised its stake in shares of Cactus by 16.8% during the 1st quarter. Portside Wealth Group LLC now owns 5,343 shares of the company’s stock worth $245,000 after purchasing an additional 767 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Cactus by 535.8% during the 1st quarter. SG Americas Securities LLC now owns 14,413 shares of the company’s stock worth $661,000 after purchasing an additional 12,146 shares in the last quarter. 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.