Cabot (NYSE:CBT) Stock Rating Upgraded by Deutsche Bank Aktiengesellschaft

Cabot (NYSE:CBTGet Rating) was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued on Wednesday, MarketBeat reports. The firm currently has a $90.00 price target on the specialty chemicals company’s stock, up from their previous price target of $80.00. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 27.39% from the company’s previous close.

Separately, StockNews.com assumed coverage on Cabot in a research report on Wednesday, October 12th. They set a “buy” rating for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Cabot currently has an average rating of “Buy” and a consensus price target of $83.25.

Cabot Price Performance

CBT stock opened at $70.65 on Wednesday. Cabot has a 12-month low of $50.96 and a 12-month high of $78.62. The company has a market capitalization of $3.98 billion, a PE ratio of 19.63 and a beta of 1.39. The company has a current ratio of 1.65, a quick ratio of 1.05 and a debt-to-equity ratio of 1.06. The business’s fifty day moving average price is $69.12 and its 200 day moving average price is $69.69.

Institutional Investors Weigh In On Cabot

Hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new position in Cabot in the first quarter valued at about $28,000. Bessemer Group Inc. grew its stake in Cabot by 1,005.1% in the third quarter. Bessemer Group Inc. now owns 431 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 392 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Cabot by 176.0% in the first quarter. Parkside Financial Bank & Trust now owns 414 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 264 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in Cabot by 139.0% in the second quarter. Pinebridge Investments L.P. now owns 478 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 278 shares during the period. Finally, CWM LLC boosted its stake in Cabot by 81.0% in the third quarter. CWM LLC now owns 505 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 226 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

Cabot Company Profile

(Get Rating)

Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through three segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions. The company offers reinforcing carbons 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.

Further Reading

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