The Cabot Corp. (CBT) Receives $53.00 Average Target Price from Brokerages

The Cabot Corp. (CBT) Receives $53.00 Average Target Price from Brokerages

Cabot Corp. (NYSE:CBT) has earned an average rating of “Buy” from the seven research firms that are covering the firm. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $53.67.

A number of brokerages have recently issued reports on CBT. Zacks Investment Research raised shares of Cabot Corp. from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Wednesday. SunTrust Banks Inc. cut shares of Cabot Corp. from a “buy” rating to a “neutral” rating and set a $51.00 target price for the company. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. TheStreet raised shares of Cabot Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Jefferies Group reaffirmed a “buy” rating and set a $60.00 target price on shares of Cabot Corp. in a research note on Tuesday, September 13th. Finally, Deutsche Bank AG raised their target price on shares of Cabot Corp. from $48.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, August 12th.

Cabot Corp. (NYSE:CBT) opened at 51.30 on Monday. Cabot Corp. has a 52-week low of $35.46 and a 52-week high of $53.88. The stock has a market cap of $3.20 billion, a PE ratio of 23.55 and a beta of 1.39. The firm has a 50 day moving average of $51.01 and a 200-day moving average of $48.28.

Cabot Corp. (NYSE:CBT) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.93. The firm earned $621 million during the quarter, compared to analysts’ expectations of $611.73 million. Cabot Corp. had a net margin of 5.68% and a return on equity of 13.91%. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 earnings per share. Equities analysts anticipate that Cabot Corp. will post $3.08 earnings per share for the current fiscal year.

In other news, VP James Patrick Kelly sold 2,500 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $50.95, for a total value of $127,375.00. Following the completion of the sale, the vice president now owns 24,585 shares in the company, valued at approximately $1,252,605.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patrick M. Prevost sold 47,800 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $49.59, for a total transaction of $2,370,402.00. Following the completion of the sale, the director now owns 326,023 shares of the company’s stock, valued at approximately $16,167,480.57. The disclosure for this sale can be found here. Company insiders own 2.48% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in Cabot Corp. by 49.6% in the second quarter. AQR Capital Management LLC now owns 1,664,979 shares of the company’s stock valued at $76,023,000 after buying an additional 551,834 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Cabot Corp. by 199.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 757,316 shares of the company’s stock valued at $34,795,000 after buying an additional 504,663 shares during the period. Vanguard Group Inc. raised its stake in Cabot Corp. by 9.8% in the second quarter. Vanguard Group Inc. now owns 5,106,514 shares of the company’s stock valued at $233,163,000 after buying an additional 456,744 shares during the period. Renaissance Technologies LLC raised its stake in Cabot Corp. by 734.3% in the first quarter. Renaissance Technologies LLC now owns 408,800 shares of the company’s stock valued at $19,757,000 after buying an additional 359,800 shares during the period. Finally, Mesirow Financial Investment Management Equity Management purchased a new stake in Cabot Corp. during the second quarter valued at about $15,935,000. Hedge funds and other institutional investors own 85.62% of the company’s stock.

Related posts

Leave a Comment