Cabot (NYSE:CBT) Upgraded by ValuEngine to “Hold”

ValuEngine upgraded shares of Cabot (NYSE:CBT) from a sell rating to a hold rating in a research report released on Wednesday morning, ValuEngine reports.

A number of other research analysts have also weighed in on CBT. TheStreet lowered Cabot from a b- rating to a c+ rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. cut their price objective on Cabot from $50.00 to $40.00 and set an overweight rating on the stock in a report on Tuesday, August 13th. Loop Capital lowered Cabot from a buy rating to a hold rating and cut their price objective for the company from $69.00 to $41.00 in a report on Monday, August 5th. Northcoast Research set a $45.00 target price on Cabot and gave the stock a buy rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research lowered Cabot from a hold rating to a sell rating and set a $42.00 target price on the stock. in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $48.80.

Shares of CBT stock traded up $0.47 during mid-day trading on Wednesday, reaching $43.71. The stock had a trading volume of 297,236 shares, compared to its average volume of 313,664. The business’s fifty day moving average is $42.25 and its 200-day moving average is $43.85. The company has a current ratio of 2.07, a quick ratio of 1.27 and a debt-to-equity ratio of 0.83. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 1.00 and a beta of 1.51. Cabot has a 1-year low of $37.11 and a 1-year high of $65.03.

Cabot (NYSE:CBT) last announced its quarterly earnings data on Monday, August 5th. The specialty chemicals company reported $1.00 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.00. The business had revenue of $845.00 million for the quarter, compared to analyst estimates of $858.86 million. Cabot had a return on equity of 18.60% and a net margin of 6.49%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.06 earnings per share. On average, analysts forecast that Cabot will post 3.98 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.20%. The ex-dividend date was Thursday, August 29th. Cabot’s dividend payout ratio (DPR) is 34.74%.

Institutional investors have recently bought and sold shares of the stock. North Star Investment Management Corp. acquired a new stake in Cabot during the third quarter worth about $36,000. Machina Capital S.A.S. boosted its position in Cabot by 409.2% during the second quarter. Machina Capital S.A.S. now owns 998 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 802 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in Cabot by 226.0% during the second quarter. Rehmann Capital Advisory Group now owns 1,089 shares of the specialty chemicals company’s stock worth $52,000 after purchasing an additional 755 shares in the last quarter. Coastal Investment Advisors Inc. purchased a new position in Cabot during the second quarter worth approximately $57,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Cabot by 81.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,960 shares of the specialty chemicals company’s stock worth $94,000 after purchasing an additional 879 shares in the last quarter. 85.83% of the stock is currently owned by hedge funds and other institutional investors.

About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks 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 compounds of carbon black and rubber.

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