The Cabot Corp. (CBT) Upgraded to Buy by Zacks Investment Research

The Cabot Corp. (CBT) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Cabot Corp. (NYSE:CBT) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $57.00 price objective on the stock.

According to Zacks, “Cabot Corporation is a global specialty chemicals and materials company. Cabot’s major products are carbon black, fumed silica, inkjet colorants, and aerogels. Cabot has manufacturing plants located in countries around the world. (Company Press Release) “

Several other equities research analysts have also issued reports on CBT. Jefferies Group reaffirmed a buy rating and set a $60.00 price target on shares of Cabot Corp. in a research note on Tuesday, September 13th. TheStreet raised Cabot Corp. from a hold rating to a buy rating in a research note on Wednesday, July 27th. Deutsche Bank AG lifted their price target on Cabot Corp. from $48.00 to $52.00 and gave the stock a hold rating in a research note on Friday, August 12th. Finally, SunTrust Banks Inc. lowered Cabot Corp. from a buy rating to a neutral rating and set a $51.00 price target for the company. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $53.67.

Cabot Corp. (NYSE:CBT) traded down 2.12% during midday trading on Wednesday, reaching $50.21. The company had a trading volume of 20,248 shares. Cabot Corp. has a one year low of $35.46 and a one year high of $53.88. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 23.05 and a beta of 1.39. The company has a 50-day moving average price of $51.01 and a 200-day moving average price of $48.28.

Cabot Corp. (NYSE:CBT) last posted its earnings results on Wednesday, July 27th. The company reported $0.93 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.93. Cabot Corp. had a return on equity of 13.91% and a net margin of 5.68%. The business earned $621 million during the quarter, compared to analysts’ expectations of $611.73 million. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s revenue was down 10.5% on a year-over-year basis. On average, equities analysts expect that Cabot Corp. will post $3.08 earnings per share for the current year.

In other Cabot Corp. news, Director Patrick M. Prevost sold 47,800 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 326,023 shares of the company’s stock, valued at approximately $16,167,480.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP James Patrick Kelly sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $52.95, for a total value of $132,375.00. Following the transaction, the vice president now directly owns 22,085 shares of the company’s stock, valued at approximately $1,169,400.75. The disclosure for this sale can be found here. 2.48% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBT. Bogle Investment Management L P DE raised its position in Cabot Corp. by 994.3% in the first quarter. Bogle Investment Management L P DE now owns 253,089 shares of the company’s stock worth $12,231,000 after buying an additional 229,962 shares during the last quarter. Wellington Management Group LLP raised its position in Cabot Corp. by 12.2% in the first quarter. Wellington Management Group LLP now owns 2,613,357 shares of the company’s stock worth $126,304,000 after buying an additional 285,118 shares during the last quarter. Loomis Sayles & Co. L P raised its position in Cabot Corp. by 27.8% in the first quarter. Loomis Sayles & Co. L P now owns 241,292 shares of the company’s stock worth $11,662,000 after buying an additional 52,468 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Cabot Corp. by 12.1% in the first quarter. Goldman Sachs Group Inc. now owns 208,131 shares of the company’s stock worth $10,058,000 after buying an additional 22,431 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its position in Cabot Corp. by 31.2% in the first quarter. Riverhead Capital Management LLC now owns 21,251 shares of the company’s stock worth $1,027,000 after buying an additional 5,051 shares during the last quarter. 85.62% of the stock is owned by institutional investors and hedge funds.

Cabot Corp. Company Profile

Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks, fumed metal oxides, activated carbon, inkjet colorants, aerogel and cesium formate drilling fluids. The Company operates through four segments: Reinforcement Materials, Performance Chemicals, Purification Solutions and Specialty Fluids.

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