Barclays Downgrades Cactus (NYSE:WHD) to Equal Weight

Barclays downgraded shares of Cactus (NYSE:WHD - Free Report) from an overweight rating to an equal weight rating in a research report report published on Monday, Marketbeat reports. The firm currently has $61.00 target price on the stock.

A number of other brokerages have also recently weighed in on WHD. Stifel Nicolaus dropped their price target on Cactus from $69.00 to $67.00 and set a "buy" rating on the stock in a research note on Friday, October 11th. Citigroup upped their target price on Cactus from $48.00 to $52.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 10th. Bank of America lifted their price target on shares of Cactus from $44.00 to $48.00 and gave the company an "underperform" rating in a research report on Monday, October 14th. Finally, Piper Sandler lowered their target price on shares of Cactus from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $56.40.

Cactus Price Performance

WHD stock traded up $0.78 during trading hours on Monday, hitting $61.36. 634,974 shares of the stock traded hands, compared to its average volume of 736,278. Cactus has a one year low of $37.58 and a one year high of $64.96. The company has a current ratio of 3.82, a quick ratio of 2.59 and a debt-to-equity ratio of 0.01. The stock has a 50-day simple moving average of $59.76 and a 200 day simple moving average of $55.92. The company has a market cap of $4.88 billion, a P/E ratio of 21.76, a P/E/G ratio of 2.83 and a beta of 1.95.

Cactus (NYSE:WHD - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.75 by $0.04. The business had revenue of $293.18 million during the quarter, compared to analyst estimates of $287.47 million. Cactus had a net margin of 16.57% and a return on equity of 20.24%. The business's quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 earnings per share. Equities analysts forecast that Cactus will post 3.04 earnings per share for the current year.

Cactus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 2nd will be issued a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 annualized dividend and a yield of 0.85%. Cactus's dividend payout ratio (DPR) is 18.44%.

Hedge Funds Weigh In On Cactus

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its position in shares of Cactus by 33.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,345 shares of the company's stock valued at $71,000 after buying an additional 340 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Cactus in the 1st quarter valued at approximately $115,000. Covestor Ltd grew its stake in shares of Cactus by 251.8% in the first quarter. Covestor Ltd now owns 2,508 shares of the company's stock valued at $126,000 after buying an additional 1,795 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Cactus by 10.8% during the third quarter. Nisa Investment Advisors LLC now owns 3,148 shares of the company's stock worth $188,000 after acquiring an additional 307 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan acquired a new stake in Cactus in the third quarter valued at $209,000. 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.