Cabot (NYSE:CBT) was downgraded by research analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report released on Wednesday, October 16th, MarketBeat reports. They presently have a $45.00 target price on the specialty chemicals company’s stock. Robert W. Baird’s price objective would indicate a potential downside of 10.41% from the stock’s previous close.
Other equities research analysts have also issued reports about the company. TheStreet lowered Cabot from a “b-” rating to a “c+” rating in a research report on Wednesday, August 14th. ValuEngine raised Cabot from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research lowered Cabot from a “hold” rating to a “sell” rating and set a $42.00 price target for the company. in a research note on Friday, August 9th. JPMorgan Chase & Co. reduced their price objective on Cabot from $50.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Finally, Northcoast Research set a $45.00 price objective on Cabot and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $44.67.
CBT traded up $0.51 during trading on Wednesday, reaching $50.23. 422,399 shares of the stock were exchanged, compared to its average volume of 359,349. The stock’s 50 day moving average price is $44.94 and its two-hundred day moving average price is $44.05. Cabot has a twelve month low of $37.11 and a twelve month high of $50.90. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.27 and a current ratio of 2.02. The stock has a market cap of $2.89 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52.
Cabot (NYSE:CBT) last issued its earnings results on Monday, November 4th. The specialty chemicals company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.06). Cabot had a return on equity of 19.06% and a net margin of 4.70%. The company had revenue of $827.00 million during the quarter, compared to the consensus estimate of $849.44 million. During the same quarter in the prior year, the business earned $1.00 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities research analysts predict that Cabot will post 3.85 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GYL Financial Synergies LLC purchased a new stake in Cabot during the 1st quarter worth approximately $384,000. Nordea Investment Management AB acquired a new position in Cabot in the first quarter valued at approximately $3,814,000. Baystate Wealth Management LLC acquired a new position in Cabot in the second quarter valued at approximately $125,000. WINTON GROUP Ltd acquired a new position in Cabot in the second quarter valued at approximately $699,000. Finally, Fox Run Management L.L.C. acquired a new position in Cabot in the second quarter valued at approximately $378,000. Institutional investors and hedge funds own 86.10% of the company’s stock.
Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks 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 compounds of carbon black and rubber.
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