Cabot (NYSE:CBT) Price Target Cut to $40.00 by Analysts at JPMorgan Chase & Co.

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Cabot (NYSE:CBT) had its price objective lowered by JPMorgan Chase & Co. from $50.00 to $40.00 in a research report report published on Tuesday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty chemicals company’s stock.

Other analysts have also recently issued research reports about the company. TheStreet raised Cabot from a c+ rating to a b- rating in a research report on Friday, July 5th. Loop Capital cut Cabot from a buy rating to a hold rating and lowered their price objective for the stock from $69.00 to $41.00 in a research report on Monday, August 5th. ValuEngine raised Cabot from a strong sell rating to a sell rating in a research report on Thursday, April 18th. Zacks Investment Research cut Cabot from a hold rating to a sell rating and set a $42.00 price objective for the company. in a research report on Friday, August 9th. Finally, Northcoast Research set a $45.00 price objective on Cabot and gave the stock a buy rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Cabot has a consensus rating of Hold and an average target price of $48.80.

Shares of NYSE CBT opened at $38.99 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.07 and a quick ratio of 1.27. The company has a market cap of $2.23 billion, a PE ratio of 9.67, a PEG ratio of 0.96 and a beta of 1.48. Cabot has a 12-month low of $37.11 and a 12-month high of $67.02. The firm’s fifty day moving average is $44.47.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, August 5th. The specialty chemicals company reported $1.00 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.00. The firm had revenue of $845.00 million during the quarter, compared to analysts’ expectations of $858.86 million. Cabot had a return on equity of 18.60% and a net margin of 6.49%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 EPS. As a group, analysts forecast that Cabot will post 3.99 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.35 dividend. The ex-dividend date is Thursday, August 29th. This represents a $1.40 dividend on an annualized basis and a yield of 3.59%. Cabot’s dividend payout ratio (DPR) is 34.74%.

Hedge funds have recently modified their holdings of the stock. Investors Research Corp purchased a new position in shares of Cabot during the 1st quarter valued at about $30,000. Synovus Financial Corp purchased a new position in shares of Cabot in the 1st quarter valued at about $30,000. Twin Tree Management LP purchased a new position in shares of Cabot in the 1st quarter valued at about $30,000. Private Capital Group LLC increased its stake in shares of Cabot by 238.6% in the 1st quarter. Private Capital Group LLC now owns 799 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 563 shares in the last quarter. Finally, Machina Capital S.A.S. increased its stake in shares of Cabot by 409.2% in the 2nd quarter. Machina Capital S.A.S. now owns 998 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 802 shares in the last quarter. Institutional investors own 86.88% of the company’s stock.

Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks 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 compounds of carbon black and rubber.

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