Cabot (NYSE:CBT) Cut to “C+” at TheStreet

TheStreet cut shares of Cabot (NYSE:CBT) from a b- rating to a c+ rating in a research report released on Tuesday morning, TheStreetRatingsTable reports.

CBT has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Cabot from a strong-buy rating to a hold rating and set a $56.00 price target on the stock. in a research note on Tuesday, April 6th. Loop Capital raised shares of Cabot from a hold rating to a buy rating and set a $78.00 price objective for the company in a research report on Thursday, July 1st. Barclays increased their price objective on shares of Cabot from $60.00 to $70.00 and gave the stock an overweight rating in a research report on Wednesday, May 5th. Northcoast Research raised shares of Cabot from a neutral rating to a buy rating and set a $73.00 price objective for the company in a research report on Wednesday, May 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Cabot from $50.00 to $62.00 and gave the stock a neutral rating in a research report on Friday, June 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $72.00.

Shares of CBT opened at $52.41 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.89 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $2.97 billion, a P/E ratio of -20.39 and a beta of 1.66. The firm’s 50 day moving average price is $59.64. Cabot has a 1 year low of $34.84 and a 1 year high of $65.25.

Cabot (NYSE:CBT) last posted its quarterly earnings results on Sunday, May 2nd. The specialty chemicals company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.41. The company had revenue of $842.00 million for the quarter, compared to the consensus estimate of $771.05 million. Cabot had a negative net margin of 5.17% and a positive return on equity of 19.21%. Cabot’s revenue was up 18.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 earnings per share. As a group, equities research analysts expect that Cabot will post 4.94 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 10th. Investors of record on Friday, August 27th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, August 26th. Cabot’s payout ratio is 67.31%.

In other Cabot news, SVP Karen A. Kalita sold 10,757 shares of the firm’s stock in a transaction on Monday, May 10th. The shares were sold at an average price of $62.84, for a total transaction of $675,969.88. Following the completion of the transaction, the senior vice president now directly owns 21,687 shares of the company’s stock, valued at approximately $1,362,811.08. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.78% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Cabot by 3.9% during the 1st quarter. BlackRock Inc. now owns 4,940,273 shares of the specialty chemicals company’s stock worth $259,068,000 after acquiring an additional 183,682 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Cabot by 9.4% in the 1st quarter. Earnest Partners LLC now owns 3,024,455 shares of the specialty chemicals company’s stock worth $158,602,000 after buying an additional 259,127 shares during the last quarter. LSV Asset Management lifted its position in shares of Cabot by 2.4% in the 1st quarter. LSV Asset Management now owns 2,499,559 shares of the specialty chemicals company’s stock worth $131,076,000 after buying an additional 57,399 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Cabot by 1.1% in the 1st quarter. Franklin Resources Inc. now owns 1,991,490 shares of the specialty chemicals company’s stock worth $104,434,000 after buying an additional 21,758 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Cabot by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,790,517 shares of the specialty chemicals company’s stock worth $80,358,000 after buying an additional 7,734 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through three segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions. 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 engineered elastomer composites.

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Analyst Recommendations for Cabot (NYSE:CBT)

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