Cabot (NYSE:CBT) Rating Increased to Strong-Buy at StockNews.com

Cabot (NYSE:CBT) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

Several other brokerages also recently issued reports on CBT. UBS Group reduced their price target on shares of Cabot from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Tuesday, November 7th. Credit Suisse Group dropped their price objective on Cabot from $85.00 to $82.00 and set an “outperform” rating for the company in a report on Tuesday, August 8th. Finally, JPMorgan Chase & Co. upped their price target on Cabot from $68.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, August 11th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $83.60.

Cabot Stock Up 2.6 %

Shares of NYSE:CBT opened at $74.40 on Friday. Cabot has a 52 week low of $63.73 and a 52 week high of $83.74. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.37 and a current ratio of 1.98. The company’s fifty day moving average is $68.88 and its 200-day moving average is $69.48. The company has a market capitalization of $4.16 billion, a PE ratio of 9.60, a P/E/G ratio of 2.22 and a beta of 1.23.

Cabot (NYSE:CBT) last issued its earnings results on Monday, November 6th. The specialty chemicals company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.47 by $0.18. The company had revenue of $965.00 million for the quarter, compared to the consensus estimate of $991.48 million. Cabot had a net margin of 11.32% and a return on equity of 24.65%. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.55 EPS. Equities research analysts predict that Cabot will post 6.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cabot

Institutional investors and hedge funds have recently bought and sold shares of the stock. Truist Financial Corp boosted its stake in Cabot by 5.3% in the 1st quarter. Truist Financial Corp now owns 6,734 shares of the specialty chemicals company’s stock worth $516,000 after purchasing an additional 336 shares during the period. Shelton Capital Management bought a new position in Cabot in the 1st quarter worth about $217,000. Fifth Third Bancorp boosted its stake in Cabot by 6.6% in the 2nd quarter. Fifth Third Bancorp now owns 23,067 shares of the specialty chemicals company’s stock worth $1,543,000 after purchasing an additional 1,437 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cabot by 14.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,169 shares of the specialty chemicals company’s stock worth $703,000 after purchasing an additional 1,172 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in Cabot in the 1st quarter worth about $536,000. 91.05% 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.