Cabot (CBT) Upgraded to Buy at Zacks Investment Research

Cabot (NYSE:CBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The brokerage currently has a $69.00 price target on the specialty chemicals company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.02% from the company’s current price.

According to Zacks, “Cabot Corporation is a leading global specialty chemicals and performance materials company headquartered in Boston, Massachusetts, USA. Our businesses deliver a broad range of products and solutions to customers in every corner of the globe, serving key industries such as transportation, infrastructure, environment and consumer. Cabot Corporation provides performance solutions that solve customers’ challenges today while preparing them to meet tomorrow’s needs. Cabot is a leading provider of rubber and specialty carbon blacks, activated carbon, inkjet colorants, cesium formate drilling fluids, fumed silica, aerogel, and elastomer composites. “

CBT has been the subject of a number of other reports. SunTrust Banks upgraded shares of Cabot to a “buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, January 16th. Loop Capital upgraded shares of Cabot from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Friday, January 5th. ValuEngine upgraded shares of Cabot from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Jefferies Group restated a “buy” rating and issued a $78.00 price target on shares of Cabot in a research report on Thursday. Finally, KeyCorp restated a “hold” rating on shares of Cabot in a research report on Wednesday, November 1st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $70.33.

Cabot (CBT) traded up $0.17 during mid-day trading on Friday, reaching $62.15. 797,604 shares of the company were exchanged, compared to its average volume of 478,989. The firm has a market cap of $4,128.47, a PE ratio of 63.42, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25. Cabot has a twelve month low of $50.21 and a twelve month high of $68.63. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.17 and a current ratio of 1.63.

Cabot (NYSE:CBT) last released its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.15. The business had revenue of $720.00 million during the quarter, compared to analysts’ expectations of $653.54 million. Cabot had a net margin of 2.30% and a return on equity of 15.01%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 EPS. analysts predict that Cabot will post 3.81 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. American International Group Inc. boosted its stake in shares of Cabot by 0.7% in the 4th quarter. American International Group Inc. now owns 128,162 shares of the specialty chemicals company’s stock valued at $7,893,000 after purchasing an additional 855 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Cabot by 11.2% in the 4th quarter. UBS Asset Management Americas Inc. now owns 74,712 shares of the specialty chemicals company’s stock valued at $4,602,000 after purchasing an additional 7,506 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of Cabot by 26.1% in the 4th quarter. Schroder Investment Management Group now owns 14,981 shares of the specialty chemicals company’s stock valued at $923,000 after purchasing an additional 3,099 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Cabot by 113.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,978,158 shares of the specialty chemicals company’s stock valued at $121,834,000 after purchasing an additional 1,052,224 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Cabot by 26.5% in the 4th quarter. Arizona State Retirement System now owns 44,589 shares of the specialty chemicals company’s stock valued at $2,746,000 after purchasing an additional 9,333 shares during the last quarter. 84.02% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another site, it was stolen and republished in violation of international trademark and copyright law. The original version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/09/cabot-cbt-upgraded-to-buy-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Cabot (CBT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Cabot (NYSE:CBT)

Receive News & Ratings for Cabot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply