Cactus (NYSE:WHD) Hits New 52-Week Low - Here's Why

Cactus, Inc. (NYSE:WHD - Get Free Report) reached a new 52-week low on Thursday . The company traded as low as $40.50 and last traded at $41.00, with a volume of 495256 shares traded. The stock had previously closed at $47.38.

Wall Street Analyst Weigh In

Separately, Barclays cut their price objective on shares of Cactus from $61.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $55.00.

Cactus Trading Down 6.7 %

The company has a current ratio of 3.82, a quick ratio of 2.67 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.79 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 5.13 and a beta of 1.74. The business's fifty day simple moving average is $51.07 and its 200 day simple moving average is $58.38.

Cactus (NYSE:WHD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.01). Cactus had a return on equity of 20.24% and a net margin of 16.57%. The firm had revenue of $272.12 million for the quarter, compared to the consensus estimate of $277.59 million. As a group, analysts expect that Cactus, Inc. will post 3.08 EPS for the current year.

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Cactus Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 3rd were given a dividend of $0.13 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.52 annualized dividend and a dividend yield of 1.49%. Cactus's payout ratio is currently 18.84%.

Hedge Funds Weigh In On Cactus

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers lifted its position in Cactus by 0.7% in the 1st quarter. Rhumbline Advisers now owns 195,038 shares of the company's stock valued at $8,939,000 after acquiring an additional 1,270 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Cactus by 3,480.1% in the first quarter. GAMMA Investing LLC now owns 91,293 shares of the company's stock valued at $4,184,000 after buying an additional 88,743 shares during the period. Central Pacific Bank Trust Division boosted its position in shares of Cactus by 7.5% during the 1st quarter. Central Pacific Bank Trust Division now owns 3,586 shares of the company's stock worth $164,000 after acquiring an additional 250 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Cactus by 5.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,133 shares of the company's stock valued at $300,000 after acquiring an additional 269 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Cactus by 120.1% in the 4th quarter. Mackenzie Financial Corp now owns 9,237 shares of the company's stock valued at $539,000 after acquiring an additional 5,040 shares during the last quarter. Institutional investors and hedge funds 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.