Cabot (NYSE:CBT) Price Target Raised to $122.00

Cabot (NYSE:CBT) had its target price lifted by Mizuho from $103.00 to $122.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

CBT has been the subject of a number of other reports. UBS Group reduced their price target on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cabot has an average rating of “Hold” and an average target price of $105.00.

Cabot Stock Down 2.6 %

Shares of NYSE CBT traded down $3.06 during mid-day trading on Tuesday, hitting $113.54. 41,352 shares of the stock traded hands, compared to its average volume of 339,305. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 2.22. The company has a market cap of $6.22 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.92 and a beta of 1.20. The stock has a fifty day moving average price of $108.94 and a 200-day moving average price of $101.34. Cabot has a 52 week low of $70.63 and a 52 week high of $117.46.

Cabot (NYSE:CBT) last announced its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.01). The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 27.14%. Cabot’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the business earned $1.65 EPS. Research analysts anticipate that Cabot will post 7.82 EPS for the current year.

Insider Buying and Selling

In other Cabot news, EVP Hobart Kalkstein sold 5,457 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the sale, the executive vice president now owns 61,688 shares in the company, valued at $6,204,579.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Hobart Kalkstein sold 5,457 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the sale, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at approximately $6,204,579.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeff Ji Zhu sold 1,201 shares of Cabot stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $106.19, for a total transaction of $127,534.19. Following the transaction, the executive vice president now directly owns 96,000 shares in the company, valued at $10,194,240. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,665 shares of company stock valued at $4,986,299. 3.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Earnest Partners LLC increased its holdings in Cabot by 2.4% in the 2nd quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company’s stock valued at $309,063,000 after acquiring an additional 80,096 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Cabot by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,348,972 shares of the specialty chemicals company’s stock worth $123,965,000 after purchasing an additional 4,437 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Cabot by 7.3% during the second quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock valued at $89,750,000 after buying an additional 66,171 shares during the period. Sei Investments Co. grew its stake in shares of Cabot by 5.9% during the second quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company’s stock valued at $83,919,000 after buying an additional 51,178 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Cabot by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 693,580 shares of the specialty chemicals company’s stock worth $63,733,000 after acquiring an additional 11,986 shares during the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

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.