Cabot (NYSE:CBT) Stock Gets Price Target Reduction from UBS Group

Cabot (NYSE:CBT) had its price objective decreased by UBS Group from $86.00 to $80.00 in a research note published on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the specialty chemicals company’s stock.

A number of other equities analysts have also weighed in on CBT. Wall Street Zen upgraded shares of Cabot from a “hold” rating to a “buy” rating in a report on Sunday, October 11th. Truist Financial lowered their price objective on shares of Cabot from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on Cabot from $70.00 to $78.00 and gave the stock an “underweight” rating in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cabot in a research report on Friday, August 21st. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $85.60.

Cabot Price Performance

CBT stock traded down $1.85 on Wednesday, reaching $71.12. The company had a trading volume of 285,481 shares, compared to its average volume of 380,192. Cabot has a 1 year low of $58.33 and a 1 year high of $94.53. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.47. The company’s fifty day moving average is $76.87 and its 200 day moving average is $79.54. The company has a market cap of $3.67 billion, a P/E ratio of 17.74, a PEG ratio of 8.91 and a beta of 0.83.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, November 2nd. The specialty chemicals company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.06. Cabot had a return on equity of 19.79% and a net margin of 5.69%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $927.29 million. During the same quarter last year, the business posted $1.70 earnings per share. Cabot’s revenue was up 12.2% compared to the same quarter last year. On average, research analysts forecast that Cabot will post 6.55 earnings per share for the current year.

Insider Activity at Cabot

In related news, CEO Sean Keohane sold 134,895 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $85.00, for a total transaction of $11,466,075.00. Following the sale, the chief executive officer directly owned 404,134 shares in the company, valued at approximately $34,351,390. This trade represents a 25.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.08% of the company’s stock.

Hedge Funds Weigh In On Cabot

A number of institutional investors and hedge funds have recently bought and sold shares of CBT. William Blair Investment Management LLC lifted its position in shares of Cabot by 19.4% during the third quarter. William Blair Investment Management LLC now owns 220,897 shares of the specialty chemicals company’s stock worth $16,989,000 after purchasing an additional 35,820 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Cabot during the 3rd quarter valued at $229,000. Ritholtz Wealth Management acquired a new stake in Cabot during the 3rd quarter valued at $307,000. Hohimer Wealth Management LLC increased its stake in Cabot by 6.3% during the 3rd quarter. Hohimer Wealth Management LLC now owns 2,944 shares of the specialty chemicals company’s stock worth $226,000 after buying an additional 174 shares during the period. Finally, Parallel Advisors LLC increased its stake in Cabot by 7.6% during the 3rd quarter. Parallel Advisors LLC now owns 2,484 shares of the specialty chemicals company’s stock worth $191,000 after buying an additional 176 shares during the period. Hedge funds and other institutional investors own 93.18% of the company’s stock.

About Cabot

Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company develops and manufactures materials used to improve the performance, durability, conductivity, color and purity of products across a range of industries.

Cabot’s products include carbon black used in tires, rubber goods, coatings, plastics and printing inks; specialty carbons and conductive materials for batteries and other applications; and specialty compounds and masterbatches.