Cabot (NYSE:CBT) Stock Rating Lowered by Zacks Research

Cabot (NYSE:CBT) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday, Zacks reports.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial dropped their price objective on shares of Cabot from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Cabot from $70.00 to $78.00 and gave the company an “underweight” rating in a research note on Friday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cabot in a research note on Friday, August 21st. UBS Group dropped their price objective on shares of Cabot from $86.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Wall Street Zen cut shares of Cabot from a “buy” rating to a “hold” rating in a report on Saturday. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $85.60.

Cabot Stock Performance

Shares of NYSE CBT opened at $71.12 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.47 and a debt-to-equity ratio of 0.48. Cabot has a 12 month low of $58.33 and a 12 month high of $94.53. The company has a market cap of $3.67 billion, a P/E ratio of 17.74, a P/E/G ratio of 8.91 and a beta of 0.83. The business’s 50 day moving average is $76.87 and its two-hundred day moving average is $79.54.

Cabot (NYSE:CBT) last announced its earnings results on Monday, November 2nd. The specialty chemicals company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.55 by $0.06. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $927.29 million. Cabot had a net margin of 5.69% and a return on equity of 19.79%. Cabot’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.70 EPS. On average, equities analysts expect that Cabot will post 6.55 EPS for the current year.

Insider Activity at Cabot

In other news, CEO Sean Keohane sold 134,895 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $85.00, for a total value of $11,466,075.00. Following the transaction, the chief executive officer directly owned 404,134 shares of the company’s stock, valued at approximately $34,351,390. This trade represents a 25.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.08% of the stock is owned by insiders.

Hedge Funds Weigh In On Cabot

A number of hedge funds have recently modified their holdings of CBT. Root Financial Partners LLC acquired a new stake in shares of Cabot during the third quarter worth $27,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Cabot during the second quarter valued at approximately $33,000. Rockefeller Capital Management L.P. grew its stake in shares of Cabot by 115.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,152 shares of the specialty chemicals company’s stock worth $76,000 after purchasing an additional 617 shares during the period. Global Retirement Partners LLC purchased a new stake in Cabot during the second quarter worth about $88,000. Finally, Parallel Advisors LLC increased its holdings in Cabot by 10.5% during the 1st quarter. Parallel Advisors LLC now owns 1,843 shares of the specialty chemicals company’s stock valued at $139,000 after acquiring an additional 175 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

About Cabot

Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company develops and manufactures materials used to improve the performance, durability, conductivity, color and purity of products across a range of industries.

Cabot’s products include carbon black used in tires, rubber goods, coatings, plastics and printing inks; specialty carbons and conductive materials for batteries and other applications; and specialty compounds and masterbatches.