Cabot (NYSE:CBT) Price Target Raised to $122.00

Cabot (NYSE:CBT) had its target price boosted by equities researchers at Mizuho from $103.00 to $122.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s price target suggests a potential upside of 12.73% from the company’s previous close.

CBT has been the topic of a number of other reports. UBS Group cut their price objective on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price target on Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Cabot has a consensus rating of “Hold” and an average target price of $105.00.

Cabot Trading Down 1.7 %

Shares of CBT stock traded down $1.87 during trading hours on Tuesday, reaching $108.22. The company’s stock had a trading volume of 346,299 shares, compared to its average volume of 336,112. The stock has a market capitalization of $5.93 billion, a P/E ratio of 12.87, a P/E/G ratio of 0.91 and a beta of 1.20. Cabot has a one year low of $66.02 and a one year high of $117.14. The firm’s fifty day simple moving average is $108.30 and its 200 day simple moving average is $101.01. The company has a current ratio of 2.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.72.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. Cabot had a return on equity of 26.99% and a net margin of 12.05%. Cabot’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 earnings per share. Equities research analysts expect that Cabot will post 7.07 EPS for the current year.

Insider Activity at Cabot

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total value of $2,601,406.35. Following the sale, the chief executive officer now directly owns 331,174 shares of the company’s stock, valued at approximately $33,630,719.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Jeff Ji Zhu sold 1,201 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $106.19, for a total value of $127,534.19. Following the completion of the transaction, the executive vice president now owns 96,000 shares in the company, valued at $10,194,240. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sean D. Keohane sold 25,617 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total value of $2,601,406.35. Following the completion of the transaction, the chief executive officer now owns 331,174 shares of the company’s stock, valued at $33,630,719.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,939 shares of company stock worth $7,308,812 over the last ninety days. 3.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wolff Wiese Magana LLC purchased a new position in shares of Cabot in the third quarter worth $25,000. CWM LLC raised its stake in shares of Cabot by 60.6% in the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 157 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Cabot by 53.9% in the third quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 130 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Cabot by 197.9% in 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. Finally, EverSource Wealth Advisors LLC increased its position in Cabot by 33.4% during the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock valued at $48,000 after acquiring an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Cabot Company Profile

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.