Analysts Set Cabot Co. (NYSE:CBT) Target Price at $87.67

Cabot Co. (NYSE:CBT) has received an average recommendation of “Hold” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $90.17.

CBT has been the subject of several analyst reports. Mizuho initiated coverage on shares of Cabot in a report on Wednesday, March 27th. They set a “buy” rating and a $104.00 price target for the company. UBS Group cut shares of Cabot from a “buy” rating to a “neutral” rating and cut their target price for the company from $90.00 to $87.00 in a research note on Monday, January 8th. Deutsche Bank Aktiengesellschaft lowered Cabot from a “buy” rating to a “hold” rating and increased their price target for the stock from $88.00 to $95.00 in a research report on Thursday, April 18th. Finally, StockNews.com cut Cabot from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 14th.

Insiders Place Their Bets

In other news, EVP Jeff Ji Zhu sold 55,233 shares of Cabot stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $79.91, for a total value of $4,413,669.03. Following the completion of the sale, the executive vice president now directly owns 97,201 shares of the company’s stock, valued at approximately $7,767,331.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.07% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Cabot during the fourth quarter worth approximately $41,471,000. Sei Investments Co. raised its position in shares of Cabot by 33.9% during the 4th quarter. Sei Investments Co. now owns 812,614 shares of the specialty chemicals company’s stock valued at $67,854,000 after acquiring an additional 205,582 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Cabot by 92.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 288,216 shares of the specialty chemicals company’s stock valued at $19,965,000 after purchasing an additional 138,663 shares during the period. AQR Capital Management LLC lifted its stake in shares of Cabot by 350.6% in the 3rd quarter. AQR Capital Management LLC now owns 176,452 shares of the specialty chemicals company’s stock valued at $12,223,000 after purchasing an additional 137,294 shares during the period. Finally, Eventide Asset Management LLC bought a new position in shares of Cabot in the 4th quarter worth $6,919,000. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Cabot Trading Up 0.8 %

CBT stock opened at $92.72 on Thursday. Cabot has a 1-year low of $63.73 and a 1-year high of $98.34. The company has a current ratio of 2.04, a quick ratio of 1.30 and a debt-to-equity ratio of 0.74. The business’s 50 day moving average is $88.53 and its 200-day moving average is $80.00. The firm has a market cap of $5.14 billion, a P/E ratio of 12.04, a P/E/G ratio of 0.97 and a beta of 1.28.

Cabot (NYSE:CBT) last announced its quarterly earnings results on Monday, February 5th. The specialty chemicals company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Cabot had a return on equity of 25.52% and a net margin of 11.24%. The firm had revenue of $958.00 million for the quarter, compared to analysts’ expectations of $927.28 million. Equities analysts anticipate that Cabot will post 6.58 earnings per share for the current fiscal year.

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.