Cabot (NYSE:CBT) PT Raised to $109.00 at Mizuho

Cabot (NYSE:CBT) had its price target hoisted by stock analysts at Mizuho from $104.00 to $109.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Mizuho’s price target indicates a potential upside of 7.84% from the company’s current price.

A number of other equities research analysts also recently issued reports on CBT. StockNews.com downgraded shares of Cabot from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft downgraded shares of Cabot from a “buy” rating to a “hold” rating and increased their price target for the company from $88.00 to $95.00 in a report on Thursday, April 18th. Finally, UBS Group cut Cabot from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $90.00 to $87.00 in a research note on Monday, January 8th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cabot currently has a consensus rating of “Moderate Buy” and an average target price of $93.67.

Cabot Stock Up 0.0 %

Shares of CBT stock opened at $101.08 on Tuesday. The company’s fifty day simple moving average is $91.52 and its two-hundred day simple moving average is $82.05. Cabot has a 52 week low of $63.73 and a 52 week high of $103.46. The stock has a market cap of $5.60 billion, a P/E ratio of 13.13, a PEG ratio of 1.00 and a beta of 1.27. The company has a quick ratio of 1.30, a current ratio of 2.04 and a debt-to-equity ratio of 0.74.

Cabot (NYSE:CBT) last announced its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.12. Cabot had a return on equity of 25.52% and a net margin of 11.24%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. Analysts predict that Cabot will post 6.58 EPS for the current fiscal year.

Insider Activity

In other Cabot news, EVP Jeff Ji Zhu sold 55,233 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $79.91, for a total value of $4,413,669.03. Following the transaction, the executive vice president now owns 97,201 shares of the company’s stock, valued at approximately $7,767,331.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Cabot

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Cabot by 0.4% in the third quarter. Vanguard Group Inc. now owns 6,361,129 shares of the specialty chemicals company’s stock valued at $440,635,000 after purchasing an additional 24,961 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Cabot by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,908,495 shares of the specialty chemicals company’s stock worth $340,011,000 after buying an additional 20,589 shares during the period. Earnest Partners LLC grew its position in shares of Cabot by 2.1% during the 3rd quarter. Earnest Partners LLC now owns 3,167,091 shares of the specialty chemicals company’s stock worth $219,384,000 after buying an additional 66,422 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cabot by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,313,254 shares of the specialty chemicals company’s stock valued at $109,664,000 after buying an additional 32,735 shares during the period. Finally, Sei Investments Co. raised its holdings in shares of Cabot by 6.1% in the first quarter. Sei Investments Co. now owns 862,081 shares of the specialty chemicals company’s stock valued at $79,484,000 after acquiring an additional 49,467 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors.

About Cabot

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.