Cabot Corp. (NYSE:CBT) Given Consensus Rating of “Hold” by Brokerages
Shares of Cabot Corp. (NYSE:CBT) have been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $53.00.
Several research analysts have issued reports on CBT shares. SunTrust Banks Inc. lowered Cabot Corp. from a “buy” rating to a “neutral” rating and set a $51.00 price objective for the company. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Zacks Investment Research lowered Cabot Corp. from a “hold” rating to a “sell” rating in a research note on Monday, August 1st. Deutsche Bank AG increased their price objective on Cabot Corp. from $48.00 to $52.00 and gave the stock a “hold” rating in a research note on Friday, August 12th. TheStreet upgraded Cabot Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Finally, Jefferies Group reiterated a “buy” rating and set a $60.00 price objective on shares of Cabot Corp. in a research note on Tuesday, September 13th.
In related news, VP James Patrick Kelly sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $52.95, for a total value of $132,375.00. Following the transaction, the vice president now owns 22,085 shares in the company, valued at $1,169,400.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eduardo E. Cordeiro sold 27,073 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $49.98, for a total value of $1,353,108.54. Following the completion of the transaction, the insider now owns 93,026 shares in the company, valued at approximately $4,649,439.48. The disclosure for this sale can be found here. 2.48% of the stock is owned by corporate insiders.
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A number of institutional investors have recently bought and sold shares of CBT. AQR Capital Management LLC boosted its position in Cabot Corp. by 49.6% in the second quarter. AQR Capital Management LLC now owns 1,664,979 shares of the company’s stock valued at $76,023,000 after buying an additional 551,834 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Cabot Corp. by 199.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 757,316 shares of the company’s stock worth $34,795,000 after buying an additional 504,663 shares during the period. Vanguard Group Inc. boosted its position in shares of Cabot Corp. by 9.8% in the second quarter. Vanguard Group Inc. now owns 5,106,514 shares of the company’s stock worth $233,163,000 after buying an additional 456,744 shares during the period. Renaissance Technologies LLC boosted its position in shares of Cabot Corp. by 734.3% in the first quarter. Renaissance Technologies LLC now owns 408,800 shares of the company’s stock worth $19,757,000 after buying an additional 359,800 shares during the period. Finally, Mesirow Financial Investment Management Equity Management bought a new position in shares of Cabot Corp. during the second quarter worth about $15,935,000. Institutional investors and hedge funds own 85.62% of the company’s stock.
Cabot Corp. (NYSE:CBT) traded up 0.33% during midday trading on Monday, reaching $51.87. 134,303 shares of the company traded hands. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 23.82 and a beta of 1.39. Cabot Corp. has a 12-month low of $35.46 and a 12-month high of $53.88. The company has a 50-day moving average price of $50.91 and a 200-day moving average price of $48.23.
Cabot Corp. (NYSE:CBT) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Cabot Corp. had a return on equity of 13.91% and a net margin of 5.68%. The firm earned $621 million during the quarter, compared to analyst estimates of $611.73 million. During the same period in the prior year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, analysts predict that Cabot Corp. will post $3.08 earnings per share for the current fiscal year.
About Cabot Corp.
Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks, fumed metal oxides, activated carbon, inkjet colorants, aerogel and cesium formate drilling fluids. The Company operates through four segments: Reinforcement Materials, Performance Chemicals, Purification Solutions and Specialty Fluids.
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