Cabot (NYSE:CBT) Price Target Raised to $122.00

Cabot (NYSE:CBT) had its price objective boosted by stock analysts at Mizuho from $103.00 to $122.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s price objective points to a potential upside of 12.73% from the company’s previous close.

Other analysts have also issued research reports about the company. UBS Group cut their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price target on Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $105.00.

Cabot Stock Performance

Cabot stock traded down $1.87 during mid-day trading on Tuesday, reaching $108.22. 346,299 shares of the stock traded hands, compared to its average volume of 336,112. The stock has a market capitalization of $5.93 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 0.91 and a beta of 1.20. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.22 and a quick ratio of 1.45. Cabot has a 12-month low of $66.02 and a 12-month high of $117.14. The business’s 50-day moving average is $108.30 and its 200-day moving average is $101.01.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). Cabot had a net margin of 12.05% and a return on equity of 26.99%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm posted $1.65 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts predict that Cabot will post 7.07 EPS for the current fiscal year.

Insider Transactions at Cabot

In other news, EVP Hobart Kalkstein sold 5,457 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the transaction, the executive vice president now owns 61,688 shares of the company’s stock, valued at $6,204,579.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Hobart Kalkstein sold 5,457 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the transaction, the executive vice president now owns 61,688 shares of the company’s stock, valued at $6,204,579.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sean D. Keohane sold 25,617 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total value of $2,601,406.35. Following the completion of the transaction, the chief executive officer now directly owns 331,174 shares of the company’s stock, valued at approximately $33,630,719.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,939 shares of company stock valued at $7,308,812 over the last 90 days. Company insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Cabot

Several institutional investors have recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. grew its holdings in Cabot by 2.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,426 shares of the specialty chemicals company’s stock valued at $606,000 after buying an additional 109 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Cabot by 33.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 119 shares in the last quarter. UMB Bank n.a. grew its holdings in Cabot by 53.9% during the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock valued at $41,000 after buying an additional 130 shares in the last quarter. Miller Howard Investments Inc. NY grew its holdings in Cabot by 4.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 3,162 shares of the specialty chemicals company’s stock valued at $291,000 after buying an additional 132 shares in the last quarter. Finally, CWM LLC grew its holdings in Cabot by 35.6% during the 3rd quarter. CWM LLC now owns 564 shares of the specialty chemicals company’s stock valued at $63,000 after buying an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are 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 solutions.