Several other equities analysts also recently commented on CBT. JPMorgan Chase & Co. cut their target price on Cabot from $105.00 to $85.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. Mizuho cut their price objective on Cabot from $122.00 to $110.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $97.00.
Read Our Latest Stock Report on CBT
Shares of NYSE CBT traded down $1.96 during mid-day trading on Tuesday, reaching $84.57. 569,546 shares of the company traded hands, compared to its average volume of 437,301. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 2.00. The stock has a market cap of $4.59 billion, a PE ratio of 11.23, a price-to-earnings-growth ratio of 0.74 and a beta of 1.21. The company's fifty day moving average is $87.27 and its two-hundred day moving average is $99.89. Cabot has a fifty-two week low of $79.57 and a fifty-two week high of $117.46.
Cabot (NYSE:CBT - Get Free Report) last released its earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.02. Cabot had a return on equity of 26.79% and a net margin of 10.60%. On average, analysts expect that Cabot will post 7.57 earnings per share for the current year.
Cabot declared that its board has approved a stock repurchase plan on Tuesday, December 3rd that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in Cabot by 197.9% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company's stock worth $47,000 after purchasing an additional 277 shares during the last quarter. Assetmark Inc. increased its holdings in Cabot by 20,489.3% in the third quarter. Assetmark Inc. now owns 5,765 shares of the specialty chemicals company's stock valued at $644,000 after purchasing an additional 5,737 shares during the period. Atria Investments Inc grew its holdings in Cabot by 5.5% during the 3rd quarter. Atria Investments Inc now owns 19,029 shares of the specialty chemicals company's stock worth $2,127,000 after acquiring an additional 985 shares during the period. Covestor Ltd grew its holdings in Cabot by 35.6% during the 3rd quarter. Covestor Ltd now owns 831 shares of the specialty chemicals company's stock worth $93,000 after acquiring an additional 218 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings in Cabot by 11.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,965 shares of the specialty chemicals company's stock worth $443,000 after acquiring an additional 410 shares during the period. Institutional investors and hedge funds own 93.18% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Cabot, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cabot wasn't on the list.
While Cabot currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.