Cabot (NYSE:CBT) Rating Lowered to Hold at Deutsche Bank Aktiengesellschaft

Cabot (NYSE:CBT) was downgraded by Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report released on Thursday, MarketBeat reports. They currently have a $95.00 target price on the specialty chemicals company’s stock, up from their prior target price of $88.00. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 3.25% from the stock’s current price.

A number of other equities research analysts have also weighed in on CBT. StockNews.com lowered shares of Cabot from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 14th. Mizuho started coverage on shares of Cabot in a research report on Wednesday, March 27th. They set a “buy” rating and a $104.00 price target for the company. Finally, UBS Group downgraded Cabot from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $90.00 to $87.00 in a report on Monday, January 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Cabot Stock Up 1.5 %

CBT opened at $92.01 on Thursday. The business’s fifty day simple moving average is $88.31 and its 200 day simple moving average is $79.65. Cabot has a 52 week low of $63.73 and a 52 week high of $98.34. The company has a quick ratio of 1.30, a current ratio of 2.04 and a debt-to-equity ratio of 0.74. The stock has a market cap of $5.10 billion, a PE ratio of 11.95, a P/E/G ratio of 0.97 and a beta of 1.28.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, February 5th. The specialty chemicals company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The firm had revenue of $958.00 million during the quarter, compared to analysts’ expectations of $927.28 million. Cabot had a return on equity of 25.52% and a net margin of 11.24%. As a group, research analysts expect that Cabot will post 6.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Cabot

In other news, EVP Jeff Ji Zhu sold 55,233 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $79.91, for a total transaction of $4,413,669.03. Following the completion of the sale, the executive vice president now directly owns 97,201 shares in the company, valued at $7,767,331.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Cabot

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise increased its position in Cabot by 17.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 833 shares of the specialty chemicals company’s stock valued at $77,000 after purchasing an additional 124 shares during the period. Mariner LLC boosted its stake in shares of Cabot by 4.1% during the 3rd quarter. Mariner LLC now owns 3,433 shares of the specialty chemicals company’s stock valued at $238,000 after purchasing an additional 136 shares in the last quarter. Metropolitan Life Insurance Co NY increased its position in shares of Cabot by 4.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,418 shares of the specialty chemicals company’s stock valued at $228,000 after buying an additional 143 shares during the period. Los Angeles Capital Management LLC raised its stake in Cabot by 1.4% in the first quarter. Los Angeles Capital Management LLC now owns 10,851 shares of the specialty chemicals company’s stock worth $1,000,000 after buying an additional 145 shares in the last quarter. Finally, Creative Planning lifted its holdings in Cabot by 2.8% in the third quarter. Creative Planning now owns 5,797 shares of the specialty chemicals company’s stock worth $402,000 after buying an additional 158 shares during the period. Institutional investors own 93.18% of the company’s stock.

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.