Cabot (NYSE:CBT) Raised to Buy at StockNews.com

Cabot (NYSE:CBT) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Several other analysts have also weighed in on CBT. Mizuho lowered their price objective on shares of Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. downgraded shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target for the company. in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Cabot currently has an average rating of “Hold” and an average target price of $102.00.

Cabot Stock Performance

NYSE:CBT opened at $88.30 on Tuesday. The company has a fifty day moving average of $90.21 and a 200-day moving average of $101.16. The firm has a market capitalization of $4.79 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.75 and a beta of 1.19. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. Cabot has a twelve month low of $80.21 and a twelve month high of $117.46.

Cabot (NYSE:CBT) last released its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.02. Cabot had a net margin of 10.60% and a return on equity of 26.79%. As a group, sell-side analysts anticipate that Cabot will post 7.57 EPS for the current year.

Cabot announced that its board has initiated a stock repurchase plan on Tuesday, December 3rd that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Cabot

A number of hedge funds have recently bought and sold shares of CBT. R Squared Ltd purchased a new position in Cabot during the 4th quarter worth $26,000. Farther Finance Advisors LLC boosted its holdings in Cabot by 197.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock worth $47,000 after acquiring an additional 277 shares during the last quarter. CWM LLC boosted its holdings in Cabot by 35.6% during the 3rd quarter. CWM LLC now owns 564 shares of the specialty chemicals company’s stock worth $63,000 after acquiring an additional 148 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in Cabot by 22.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock worth $73,000 after acquiring an additional 117 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Cabot by 37.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company’s stock worth $74,000 after acquiring an additional 219 shares during the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites solutions.