Cabot Corporation (CBT) Rating Increased to Buy at Zacks Investment Research
Cabot Corporation (NYSE:CBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, July 11th. The brokerage presently has a $60.00 target price on the specialty chemicals company’s stock. Zacks Investment Research‘s target price points to a potential upside of 13.92% from the stock’s previous close.
According to Zacks, “Cabot Corporation is a global specialty chemicals and materials company. Cabot’s major products are carbon black, fumed silica, inkjet colorants, and aerogels. Cabot has manufacturing plants located in countries around the world. (Company Press Release) “
Several other analysts have also weighed in on the company. Northcoast Research upgraded Cabot Corporation from a “neutral” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Wednesday, May 24th. SunTrust Banks, Inc. initiated coverage on Cabot Corporation in a report on Tuesday, April 18th. They issued a “buy” rating and a $56.00 price objective for the company. BidaskClub upgraded Cabot Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Jefferies Group LLC restated a “buy” rating and issued a $68.00 price objective on shares of Cabot Corporation in a report on Tuesday, May 2nd. Finally, Aegis restated a “hold” rating on shares of Cabot Corporation in a report on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $59.67.
Shares of Cabot Corporation (NYSE CBT) opened at 52.67 on Tuesday. Cabot Corporation has a 12-month low of $47.99 and a 12-month high of $61.34. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 14.77 and a beta of 1.05. The stock’s 50 day moving average is $53.88 and its 200-day moving average is $55.84.
Cabot Corporation (NYSE:CBT) last announced its quarterly earnings data on Tuesday, August 1st. The specialty chemicals company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.04. The firm had revenue of $705 million during the quarter, compared to analyst estimates of $664.16 million. Cabot Corporation had a net margin of 8.61% and a return on equity of 16.03%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 EPS. Equities analysts anticipate that Cabot Corporation will post $3.46 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of CBT. Bank of America Corp DE raised its position in Cabot Corporation by 22.9% in the first quarter. Bank of America Corp DE now owns 703,563 shares of the specialty chemicals company’s stock valued at $42,151,000 after buying an additional 131,109 shares during the last quarter. Legal & General Group Plc raised its position in Cabot Corporation by 30.0% in the first quarter. Legal & General Group Plc now owns 68,671 shares of the specialty chemicals company’s stock valued at $4,112,000 after buying an additional 15,829 shares during the last quarter. Norges Bank acquired a new position in Cabot Corporation during the fourth quarter valued at $37,848,000. KCG Holdings Inc. raised its position in Cabot Corporation by 6.6% in the first quarter. KCG Holdings Inc. now owns 7,508 shares of the specialty chemicals company’s stock valued at $450,000 after buying an additional 467 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in Cabot Corporation by 29.0% in the first quarter. Pacer Advisors Inc. now owns 7,691 shares of the specialty chemicals company’s stock valued at $461,000 after buying an additional 1,727 shares during the last quarter. 85.39% of the stock is currently owned by hedge funds and other institutional investors.
About Cabot Corporation
Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Cabot Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Corporation and related stocks with our FREE daily email newsletter.