Cabot (CBT) Raised to “Buy” at SunTrust Banks

Cabot (NYSE:CBT) was upgraded by analysts at SunTrust Banks from a “hold” rating to a “buy” rating in a report issued on Tuesday, Marketbeat.com reports.

CBT has been the topic of several other research reports. Loop Capital initiated coverage on shares of Cabot in a report on Thursday, September 28th. They issued a “hold” rating and a $59.00 price target on the stock. Zacks Investment Research lowered shares of Cabot from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Jefferies Group reissued a “buy” rating and issued a $74.00 price target on shares of Cabot in a report on Friday, November 3rd. Finally, KeyCorp restated a “hold” rating on shares of Cabot in a research note on Wednesday, November 1st. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $61.14.

Shares of Cabot (NYSE CBT) traded up $2.91 during mid-day trading on Tuesday, reaching $61.27. 699,754 shares of the company were exchanged, compared to its average volume of 339,282. Cabot has a fifty-two week low of $50.21 and a fifty-two week high of $64.66. The company has a market capitalization of $3,568.30, a price-to-earnings ratio of 16.79, a P/E/G ratio of 1.53 and a beta of 1.11. 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 (NYSE:CBT) last announced its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.02). The company had revenue of $723.00 million for the quarter, compared to the consensus estimate of $683.30 million. Cabot had a return on equity of 15.11% and a net margin of 8.87%. The company’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the firm posted $1.00 EPS. equities analysts anticipate that Cabot will post 3.77 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cabot by 9.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock worth $132,000 after buying an additional 209 shares in the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in Cabot during the 2nd quarter worth about $155,000. Parametrica Management Ltd acquired a new position in Cabot during the 3rd quarter worth about $217,000. Virginia Retirement Systems ET AL acquired a new position in Cabot during the 3rd quarter worth about $218,000. Finally, Quantbot Technologies LP lifted its position in Cabot by 244.4% during the 2nd quarter. Quantbot Technologies LP now owns 4,643 shares of the specialty chemicals company’s stock worth $248,000 after buying an additional 3,295 shares in the last quarter. Institutional investors and hedge funds own 84.83% 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.