Mizuho Boosts Cabot (NYSE:CBT) Price Target to $109.00

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

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft lowered shares of Cabot from a “buy” rating to a “hold” rating and upped their price objective for the company from $88.00 to $95.00 in a report on Thursday, April 18th. StockNews.com cut shares of Cabot from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 14th. Finally, UBS Group lowered shares of Cabot from a “buy” rating to a “neutral” rating and reduced their price target for the company from $90.00 to $87.00 in a research report on Monday, January 8th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cabot presently has a consensus rating of “Moderate Buy” and an average price target of $93.67.

Cabot Stock Up 0.0 %

CBT stock opened at $101.08 on Tuesday. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.00 and a beta of 1.27. The firm has a 50-day moving average of $91.52 and a two-hundred day moving average of $82.05. Cabot has a 12 month low of $63.73 and a 12 month high of $103.46. The company has a current ratio of 2.04, a quick ratio of 1.30 and a debt-to-equity ratio of 0.74.

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

Insiders Place Their Bets

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 sale, the executive vice president now owns 97,201 shares of the company’s stock, valued at $7,767,331.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CBT. Raymond James & Associates lifted its position in shares of Cabot by 5.0% during the 3rd quarter. Raymond James & Associates now owns 41,878 shares of the specialty chemicals company’s stock worth $2,901,000 after purchasing an additional 1,986 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Cabot by 18.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,476 shares of the specialty chemicals company’s stock worth $795,000 after buying an additional 1,819 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cabot by 17.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 175,336 shares of the specialty chemicals company’s stock valued at $12,146,000 after purchasing an additional 26,052 shares during the period. Park Avenue Securities LLC acquired a new position in Cabot in the 3rd quarter valued at $248,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Cabot by 1,416.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 51,814 shares of the specialty chemicals company’s stock worth $3,589,000 after acquiring an additional 48,397 shares during the period. 93.18% of the stock is owned by institutional investors and hedge funds.

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.