Cabot (NYSE:CBT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $75.00 target price on the specialty chemicals company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.29% from the company’s previous close.
According to Zacks, “Cabot Corporation is a leading global specialty chemicals and performance materials company serving key industries including transportation, infrastructure, environment and consumer. Their people are empowered to share ideas, compare new findings, and collaborate to ensure they capture the best thinking across their global network. The company offers carbon black, a form of elemental carbon used to enhance the physical properties of the systems and applications in which it is incorporated; and rubber blacks for use as a rubber reinforcing agent and performance additive in tires, hoses, belts, extruded profiles, and molded goods. It also provides compounds of carbon black and rubber primarily for tire applications; and cesium formate, a drilling and completion fluid for use in high pressure and high temperature oil and gas well construction. “
Other research analysts have also issued reports about the stock. SunTrust Banks upgraded shares of Cabot to a “buy” rating and set a $73.00 target price on the stock in a research note on Tuesday. Loop Capital upgraded shares of Cabot from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Friday, January 5th. ValuEngine upgraded shares of Cabot from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Jefferies Group reiterated a “buy” rating and issued a $74.00 target price on shares of Cabot in a research note on Friday, November 3rd. Finally, KeyCorp reiterated a “hold” rating on shares of Cabot in a research note on Wednesday, November 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $70.67.
Cabot (NYSE:CBT) last posted its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Cabot had a net margin of 8.87% and a return on equity of 15.11%. The firm had revenue of $723.00 million during the quarter, compared to analyst estimates of $683.30 million. During the same quarter in the previous year, the business posted $1.00 earnings per share. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. equities analysts anticipate that Cabot will post 3.79 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of CBT. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Cabot by 9.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock worth $132,000 after purchasing an additional 209 shares during the last quarter. Parametrica Management Ltd acquired a new stake in Cabot in the 3rd quarter worth $217,000. Virginia Retirement Systems ET AL acquired a new stake in Cabot in the 3rd quarter worth $218,000. Quantbot Technologies LP grew its position in Cabot by 244.4% in the 2nd quarter. Quantbot Technologies LP now owns 4,643 shares of the specialty chemicals company’s stock worth $248,000 after purchasing an additional 3,295 shares during the last quarter. Finally, Shelton Capital Management acquired a new stake in Cabot in the 2nd quarter worth $249,000. Institutional investors own 84.82% of the company’s stock.
Cabot Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cabot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot and related companies with MarketBeat.com's FREE daily email newsletter.