Cabot (CBT) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Cabot (NYSE:CBT) from a hold rating to a buy rating in a research report released on Wednesday. Zacks Investment Research currently has $75.00 price objective on the specialty chemicals company’s stock.

According to Zacks, “Cabot Corporation is a leading global specialty chemicals and performance materials company serving key industries including transportation, infrastructure, environment and consumer. Their people are empowered to share ideas, compare new findings, and collaborate to ensure they capture the best thinking across their global network. The company offers carbon black, a form of elemental carbon used to enhance the physical properties of the systems and applications in which it is incorporated; and rubber blacks for use as a rubber reinforcing agent and performance additive in tires, hoses, belts, extruded profiles, and molded goods. It also provides compounds of carbon black and rubber primarily for tire applications; and cesium formate, a drilling and completion fluid for use in high pressure and high temperature oil and gas well construction. “

Other equities analysts have also issued research reports about the stock. SunTrust Banks upgraded shares of Cabot to a buy rating and set a $73.00 price objective for the company in a research report on Tuesday, January 16th. Loop Capital upgraded shares of Cabot from a hold rating to a buy rating and set a $82.00 price objective for the company in a research report on Friday, January 5th. ValuEngine upgraded shares of Cabot from a hold rating to a buy rating in a research report on Sunday, December 31st. Jefferies Group reiterated a buy rating and set a $74.00 price objective on shares of Cabot in a research report on Friday, November 3rd. Finally, KeyCorp reiterated a hold rating on shares of Cabot in a research report on Wednesday, November 1st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Cabot currently has an average rating of Buy and an average price target of $70.67.

Cabot (NYSE CBT) traded up $1.07 during mid-day trading on Wednesday, reaching $67.58. 235,479 shares of the company’s stock traded hands, compared to its average volume of 335,969. Cabot has a fifty-two week low of $50.21 and a fifty-two week high of $68.08. The company has a quick ratio of 1.17, a current ratio of 1.70 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $4,186.58, a price-to-earnings ratio of 17.74, a P/E/G ratio of 1.78 and a beta of 1.11.

Cabot (NYSE:CBT) last released its quarterly earnings data on Tuesday, October 31st. The specialty chemicals company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.02). Cabot had a net margin of 8.87% and a return on equity of 15.11%. The business had revenue of $723.00 million for the quarter, compared to the consensus estimate of $683.30 million. During the same quarter last year, the business earned $1.00 EPS. Cabot’s revenue for the quarter was up 16.8% compared to the same quarter last year. research analysts anticipate that Cabot will post 3.8 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be issued a $0.315 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.26 annualized dividend and a dividend yield of 1.86%. Cabot’s dividend payout ratio (DPR) is presently 33.07%.

Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Cabot by 9.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock worth $132,000 after acquiring an additional 209 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Cabot in the 4th quarter worth about $221,000. Parametrica Management Ltd bought a new stake in shares of Cabot in the 3rd quarter worth about $217,000. Virginia Retirement Systems ET AL bought a new stake in shares of Cabot in the 3rd quarter worth about $218,000. Finally, Quantbot Technologies LP lifted its holdings in shares of Cabot by 244.4% in the 2nd quarter. Quantbot Technologies LP now owns 4,643 shares of the specialty chemicals company’s stock worth $248,000 after acquiring an additional 3,295 shares during the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

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Cabot Company Profile

Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.

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