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

Cactus (NYSE:WHD) had its price target reduced by Barclays from $61.00 to $54.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Cactus Price Performance

Shares of WHD opened at $47.53 on Wednesday. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 5.13 and a beta of 1.97. The stock has a 50 day moving average of $59.53 and a 200-day moving average of $60.93. 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 has a 52 week low of $44.57 and a 52 week high of $70.01.

Cactus (NYSE:WHD) last issued its earnings results on Wednesday, February 26th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.01). The firm had revenue of $272.12 million during the quarter, compared to analyst estimates of $277.59 million. Cactus had a return on equity of 20.24% and a net margin of 16.57%. As a group, analysts forecast that Cactus will post 3.08 EPS for the current year.

Cactus Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 3rd will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.52 dividend on an annualized basis and a yield of 1.09%. Cactus’s dividend payout ratio is currently 18.84%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oarsman Capital Inc. acquired a new position in Cactus during the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its position in Cactus by 74.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 522 shares of the company’s stock valued at $30,000 after purchasing an additional 223 shares during the period. Quest Partners LLC acquired a new position in Cactus during the 3rd quarter valued at approximately $34,000. Versant Capital Management Inc boosted its position in 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 purchasing an additional 359 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in Cactus by 66.9% during the 4th quarter. Jones Financial Companies Lllp now owns 841 shares of the company’s stock valued at $49,000 after purchasing an additional 337 shares during the period. 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.