Brokerages Set Cactus, Inc. (NYSE:WHD) Price Target at $50.20

Shares of Cactus, Inc. (NYSE:WHD) have received an average rating of “Hold” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $50.20.

Several research firms recently commented on WHD. Weiss Ratings reissued a “hold (c)” rating on shares of Cactus in a research report on Monday, December 29th. Zacks Research lowered shares of Cactus from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. Bank of America upgraded shares of Cactus from an “underperform” rating to a “neutral” rating and upped their target price for the company from $39.00 to $40.00 in a research note on Wednesday, October 29th. Stifel Nicolaus raised their price target on shares of Cactus from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Citigroup upgraded shares of Cactus from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $45.00 to $55.00 in a report on Thursday, December 11th.

Cactus Stock Up 0.9%

Shares of NYSE WHD opened at $57.42 on Friday. The stock has a fifty day moving average price of $50.61 and a 200 day moving average price of $44.09. The company has a current ratio of 5.28, a quick ratio of 3.74 and a debt-to-equity ratio of 0.01. Cactus has a 12-month low of $33.20 and a 12-month high of $61.38. The company has a market cap of $4.58 billion, a P/E ratio of 22.87, a P/E/G ratio of 5.81 and a beta of 1.27.

Cactus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 2nd will be paid a $0.14 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. Cactus’s payout ratio is 22.31%.

Institutional Investors Weigh In On Cactus

Hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP boosted its stake in shares of Cactus by 52.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,304,595 shares of the company’s stock valued at $130,432,000 after buying an additional 1,141,249 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Cactus in the second quarter valued at $30,648,000. Capital International Investors boosted its stake in Cactus by 27.0% during the 4th quarter. Capital International Investors now owns 2,343,731 shares of the company’s stock valued at $107,062,000 after acquiring an additional 498,210 shares during the last quarter. Capital Research Global Investors acquired a new position in Cactus during the 3rd quarter worth $19,563,000. Finally, Franklin Resources Inc. increased its position in shares of Cactus by 559.4% in the 4th quarter. Franklin Resources Inc. now owns 544,998 shares of the company’s stock worth $24,896,000 after purchasing an additional 462,345 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

About Cactus

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. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.