Cabot (NYSE:CBT) Stock Bumped Down to Hold by Wall Street Zen

Wall Street Zen cut shares of Cabot (NYSE:CBT) from a buy rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

A number of other equities analysts also recently issued reports on the company. Truist Financial decreased their price objective on Cabot from $100.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday. UBS Group dropped their target price on shares of Cabot from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Cabot from $70.00 to $78.00 and gave the stock an “underweight” rating in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cabot in a research note on Friday, August 21st. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Cabot currently has an average rating of “Hold” and a consensus price target of $85.60.

Cabot Stock Performance

Cabot stock opened at $71.12 on Friday. Cabot has a fifty-two week low of $58.33 and a fifty-two week high of $94.53. The stock’s 50 day simple moving average is $76.87 and its two-hundred day simple moving average is $79.54. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.97 and a current ratio of 2.16. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 9.04 and a beta of 0.83.

Cabot (NYSE:CBT) last announced its earnings results on Monday, November 2nd. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.06. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $927.29 million. Cabot had a return on equity of 19.64% and a net margin of 5.69%. The business’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.70 EPS. As a group, analysts expect that Cabot will post 6.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Cabot

In related news, CEO Sean Keohane sold 134,895 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $85.00, for a total transaction of $11,466,075.00. Following the completion of the transaction, the chief executive officer owned 404,134 shares of the company’s stock, valued at $34,351,390. This trade represents a 25.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.08% of the stock is owned by insiders.

Institutional Investors Weigh In On Cabot

Several hedge funds have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC boosted its stake in Cabot by 19.4% in the 3rd quarter. William Blair Investment Management LLC now owns 220,897 shares of the specialty chemicals company’s stock worth $16,989,000 after purchasing an additional 35,820 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in Cabot in the third quarter worth about $229,000. Ritholtz Wealth Management purchased a new position in Cabot in the 3rd quarter worth approximately $307,000. Hohimer Wealth Management LLC lifted its holdings in shares of Cabot by 6.3% during the third quarter. Hohimer Wealth Management LLC now owns 2,944 shares of the specialty chemicals company’s stock valued at $226,000 after purchasing an additional 174 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Cabot by 7.6% in the third quarter. Parallel Advisors LLC now owns 2,484 shares of the specialty chemicals company’s stock valued at $191,000 after acquiring an additional 176 shares during the period. 93.18% of the stock is owned by institutional investors.

About Cabot

Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company develops and manufactures materials used to improve the performance, durability, conductivity, color and purity of products across a range of industries.

Cabot’s products include carbon black used in tires, rubber goods, coatings, plastics and printing inks; specialty carbons and conductive materials for batteries and other applications; and specialty compounds and masterbatches.