Jefferies Group Reiterates “Buy” Rating for Cabot (CBT)
Jefferies Group reiterated their buy rating on shares of Cabot (NYSE:CBT) in a research report released on Thursday morning. The firm currently has a $78.00 target price on the specialty chemicals company’s stock. Jefferies Group also issued estimates for Cabot’s Q4 2018 earnings at $1.09 EPS and FY2018 earnings at $3.95 EPS.
Several other research firms also recently weighed in on CBT. ValuEngine upgraded Cabot from a hold rating to a buy rating in a research note on Friday, February 2nd. KeyCorp reiterated a hold rating on shares of Cabot in a research note on Wednesday, November 1st. SunTrust Banks upgraded Cabot from a hold rating to a buy rating in a research note on Tuesday, December 19th. Zacks Investment Research downgraded Cabot from a buy rating to a hold rating in a research note on Thursday, January 18th. Finally, Loop Capital upgraded Cabot from a hold rating to a buy rating and set a $82.00 price target for the company in a research note on Friday, January 5th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Cabot currently has an average rating of Buy and a consensus price target of $70.33.
Cabot (CBT) opened at $62.15 on Thursday. The stock has a market capitalization of $3,841.31, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.59 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.63 and a quick ratio of 1.17. Cabot has a 12 month low of $50.21 and a 12 month high of $68.63.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be paid a dividend of $0.315 per share. The ex-dividend date is Thursday, February 22nd. This represents a $1.26 annualized dividend and a dividend yield of 2.03%. Cabot’s payout ratio is 128.57%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Citizens Financial Group Inc RI purchased a new stake in Cabot during the 4th quarter worth about $142,000. Parametrica Management Ltd purchased a new stake in Cabot during the 3rd quarter worth about $217,000. Virginia Retirement Systems ET AL purchased a new stake in Cabot during the 3rd quarter worth about $218,000. State of Alaska Department of Revenue purchased a new stake in Cabot during the 4th quarter worth about $221,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cabot by 48.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,663 shares of the specialty chemicals company’s stock worth $226,000 after purchasing an additional 1,194 shares in the last quarter. 84.02% of the stock is currently owned by institutional investors and hedge funds.
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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.
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