Cabot (NYSE:CBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $75.00 price objective on the specialty chemicals company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.29% from the company’s previous close.

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. “

Several other equities analysts also recently commented on the stock. SunTrust Banks upgraded shares of Cabot to a “buy” rating and set a $73.00 price objective on the stock in a report on Tuesday. Loop Capital upgraded shares of Cabot from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Friday, January 5th. ValuEngine upgraded shares of Cabot from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Jefferies Group reiterated a “buy” rating and issued a $74.00 price objective on shares of Cabot in a report on Friday, November 3rd. Finally, KeyCorp reiterated a “hold” rating on shares of Cabot in a report on Wednesday, November 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $70.67.

Cabot (NYSE CBT) traded down $0.38 during midday trading on Wednesday, reaching $66.79. 422,588 shares of the company’s stock traded hands, compared to its average volume of 456,764. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.70 and a quick ratio of 1.17. Cabot has a 1 year low of $50.21 and a 1 year high of $68.08. The company has a market capitalization of $4,165.49, a price-to-earnings ratio of 17.53, 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 company had revenue of $723.00 million during the quarter, compared to analyst estimates of $683.30 million. During the same quarter in the prior year, the firm earned $1.00 earnings per share. Cabot’s revenue for the quarter was up 16.8% on a year-over-year basis. sell-side analysts expect that Cabot will post 3.79 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in CBT. PNC Financial Services Group Inc. grew its stake in shares of Cabot by 14.5% in the second quarter. PNC Financial Services Group Inc. now owns 2,636 shares of the specialty chemicals company’s stock valued at $121,000 after acquiring an additional 333 shares in the last quarter. Acrospire Investment Management LLC grew its stake in shares of Cabot by 93.3% in the second quarter. Acrospire Investment Management LLC now owns 2,900 shares of the specialty chemicals company’s stock valued at $132,000 after acquiring an additional 1,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cabot by 9.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock valued at $132,000 after acquiring an additional 209 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Cabot by 344.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,438 shares of the specialty chemicals company’s stock valued at $146,000 after acquiring an additional 1,890 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of Cabot in the second quarter valued at about $148,000. Institutional investors and hedge funds own 84.82% of the company’s stock.

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About Cabot

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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