Cactus (NYSE:WHD) Given New $48.00 Price Target at Bank of America

Cactus (NYSE:WHD) had its target price boosted by Bank of America from $44.00 to $48.00 in a research note published on Monday morning, Benzinga reports. They currently have an underperform rating on the stock.

WHD has been the topic of several other reports. Citigroup boosted their price objective on Cactus from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Piper Sandler lowered their price target on Cactus from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Stifel Nicolaus cut their price objective on shares of Cactus from $69.00 to $67.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Barclays boosted their target price on shares of Cactus from $56.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $56.40.

Cactus Price Performance

NYSE WHD opened at $63.23 on Monday. The company has a current ratio of 3.75, a quick ratio of 2.59 and a debt-to-equity ratio of 0.01. Cactus has a 12 month low of $37.58 and a 12 month high of $64.96. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 2.30 and a beta of 1.95. The company’s 50 day moving average is $59.66 and its two-hundred day moving average is $55.14.

Cactus (NYSE:WHD) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. Cactus had a net margin of 16.88% and a return on equity of 21.22%. The firm had revenue of $290.39 million during the quarter, compared to analysts’ expectations of $276.76 million. During the same period in the prior year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. As a group, research analysts anticipate that Cactus will post 3.04 earnings per share for the current year.

Cactus Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were issued a $0.13 dividend. The ex-dividend date was Monday, August 26th. This is a positive change from Cactus’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.82%. Cactus’s dividend payout ratio (DPR) is 20.72%.

Institutional Investors Weigh In On Cactus

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Cactus by 27.5% during the 1st quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock valued at $50,000 after buying an additional 217 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Cactus in the 1st quarter valued at approximately $115,000. Covestor Ltd boosted its holdings in shares of Cactus by 251.8% in the 1st quarter. Covestor Ltd now owns 2,508 shares of the company’s stock worth $126,000 after purchasing an additional 1,795 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Cactus during the 1st quarter valued at approximately $182,000. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of Cactus during the 1st quarter valued at approximately $202,000. Hedge funds and other 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.