Cabot Corporation (CBT) Upgraded at Zacks Investment Research
Cabot Corporation (NYSE:CBT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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 brokerages have also recently issued reports on CBT. SunTrust Banks, Inc. assumed coverage on Cabot Corporation in a research report on Tuesday, April 18th. They issued a “buy” rating and a $56.00 target price on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $68.00 target price on shares of Cabot Corporation in a research report on Tuesday, May 2nd. ValuEngine cut Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub cut Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Aegis reissued a “hold” rating on shares of Cabot Corporation in a research report on Wednesday, May 31st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Cabot Corporation has a consensus rating of “Buy” and an average target price of $60.50.
Cabot Corporation (NYSE:CBT) traded up 0.80% during midday trading on Wednesday, reaching $52.87. 320,272 shares of the company’s stock traded hands. Cabot Corporation has a one year low of $47.99 and a one year high of $61.34. The stock has a market cap of $3.29 billion, a PE ratio of 14.81 and a beta of 1.05. The stock’s 50 day moving average price is $53.46 and its 200-day moving average price is $55.63.
Cabot Corporation (NYSE:CBT) last announced its earnings results on Tuesday, August 1st. The specialty chemicals company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by $0.04. The firm had revenue of $705 million during the quarter, compared to analysts’ expectations of $664.16 million. Cabot Corporation had a return on equity of 16.03% and a net margin of 8.61%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 earnings per share. Equities analysts predict that Cabot Corporation will post $3.45 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of CBT. Public Employees Retirement System of Ohio boosted its position in Cabot Corporation by 9.9% in the second quarter. Public Employees Retirement System of Ohio now owns 61,821 shares of the specialty chemicals company’s stock worth $3,303,000 after buying an additional 5,546 shares during the last quarter. Verition Fund Management LLC bought a new position in Cabot Corporation during the second quarter worth $443,000. Dean Capital Management bought a new position in Cabot Corporation during the second quarter worth $3,116,000. Ameritas Investment Partners Inc. boosted its position in Cabot Corporation by 2.0% in the second quarter. Ameritas Investment Partners Inc. now owns 18,696 shares of the specialty chemicals company’s stock worth $999,000 after buying an additional 363 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new position in Cabot Corporation during the second quarter worth $1,437,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.
Cabot Corporation Company Profile
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.
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