Mizuho Lowers Cabot (NYSE:CBT) Price Target to $110.00

Cabot (NYSE:CBT) had its target price reduced by equities researchers at Mizuho from $122.00 to $110.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s price target suggests a potential upside of 25.59% from the company’s current price.

Separately, JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective on the stock. in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Cabot presently has a consensus rating of “Hold” and a consensus price target of $102.00.

Cabot Trading Down 1.3 %

Shares of CBT opened at $87.59 on Tuesday. Cabot has a twelve month low of $70.63 and a twelve month high of $117.46. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $103.24 and its 200-day simple moving average is $102.50. The company has a market cap of $4.76 billion, a P/E ratio of 13.00, a P/E/G ratio of 0.90 and a beta of 1.21.

Cabot (NYSE:CBT) last announced its quarterly earnings data 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). The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. Cabot had a return on equity of 26.60% and a net margin of 9.51%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.65 EPS. As a group, analysts expect that Cabot will post 7.67 EPS for the current year.

Cabot declared that its board has approved a stock repurchase program on Tuesday, December 3rd that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Cabot

In related news, EVP Hobart Kalkstein sold 34,759 shares of Cabot stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $115.23, for a total value of $4,005,279.57. Following the completion of the sale, the executive vice president now directly owns 50,627 shares in the company, valued at $5,833,749.21. The trade was a 40.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jeff Ji Zhu sold 14,566 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $113.25, for a total transaction of $1,649,599.50. Following the completion of the sale, the executive vice president now directly owns 69,449 shares of the company’s stock, valued at approximately $7,865,099.25. This trade represents a 17.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,190 shares of company stock valued at $5,751,534 in the last ninety days. Corporate insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Cabot

Several institutional investors have recently bought and sold shares of CBT. Barclays PLC boosted its position in Cabot by 103.9% during the 3rd quarter. Barclays PLC now owns 113,614 shares of the specialty chemicals company’s stock valued at $12,699,000 after acquiring an additional 57,907 shares in the last quarter. Franklin Resources Inc. bought a new stake in Cabot during the third quarter valued at about $654,000. Orion Portfolio Solutions LLC purchased a new position in Cabot in the third quarter valued at about $609,000. Oppenheimer Asset Management Inc. raised its holdings in Cabot by 24.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 42,240 shares of the specialty chemicals company’s stock worth $3,881,000 after purchasing an additional 8,175 shares in the last quarter. Finally, Earnest Partners LLC lifted its position in shares of Cabot by 2.4% during the second quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company’s stock valued at $309,063,000 after buying an additional 80,096 shares during the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

Cabot Company Profile

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.