Cabot (NYSE:CBT) Rating Lowered to Hold at Wall Street Zen

Cabot (NYSE:CBT) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. boosted 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. Truist Financial lowered their price objective on Cabot from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, November 4th. Weiss Ratings restated a “hold (c)” rating on shares of Cabot in a report on Friday, August 21st. Finally, UBS Group cut their target price on Cabot from $86.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 4th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cabot presently has an average rating of “Hold” and a consensus price target of $85.60.

Cabot Stock Up 0.1%

Cabot stock opened at $71.12 on Friday. Cabot has a 1-year low of $58.33 and a 1-year high of $94.53. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 9.04 and a beta of 0.83. The firm’s fifty day moving average price is $76.87 and its two-hundred day moving average price is $79.54. The company has a current ratio of 2.16, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, November 2nd. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $927.29 million. Cabot had a net margin of 5.69% and a return on equity of 19.64%. The business’s revenue was up 12.2% on a year-over-year basis. During the same period last year, the company earned $1.70 earnings per share. On average, equities research analysts predict that Cabot will post 6.55 earnings per share for the current fiscal year.

Insider Activity at Cabot

In other news, CEO Sean Keohane sold 134,895 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $85.00, for a total value of $11,466,075.00. Following the completion of the sale, the chief executive officer owned 404,134 shares in the company, valued at $34,351,390. This represents a 25.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new position in shares of Cabot in the 3rd quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Cabot in the second quarter valued at approximately $33,000. Global Retirement Partners LLC bought a new position in shares of Cabot in the second quarter valued at approximately $88,000. Rockefeller Capital Management L.P. grew its holdings in shares of Cabot by 115.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,152 shares of the specialty chemicals company’s stock valued at $76,000 after acquiring an additional 617 shares in the last quarter. Finally, Allworth Financial LP purchased a new stake in shares of Cabot during the second quarter valued at approximately $145,000. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Cabot Company Profile

Cabot Corporation is a specialty chemicals and performance materials company that develops and manufactures materials used in products across transportation, energy, infrastructure, electronics and consumer markets. Its offerings include reinforcing carbon blacks for tires and other rubber products, specialty carbons and battery materials, fumed silica and other specialty compounds.

Founded in 1882, Cabot has expanded from its early carbon black business into a broader portfolio of performance materials.