Mizuho Raises Cabot (NYSE:CBT) Price Target to $109.00

Cabot (NYSE:CBT) had its price objective hoisted by equities researchers at Mizuho from $104.00 to $109.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. Mizuho’s price objective points to a potential upside of 13.71% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft lowered Cabot from a “buy” rating to a “hold” rating and upped their price target for the company from $88.00 to $95.00 in a research report on Thursday, April 18th. StockNews.com downgraded shares of Cabot from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 14th. Finally, UBS Group lowered shares of Cabot from a “buy” rating to a “neutral” rating and decreased their price target for the company from $90.00 to $87.00 in a report on Monday, January 8th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.00.

Cabot Price Performance

Shares of CBT stock opened at $95.86 on Tuesday. The firm has a fifty day moving average of $90.82 and a two-hundred day moving average of $81.68. The firm has a market cap of $5.31 billion, a P/E ratio of 12.45, a P/E/G ratio of 1.00 and a beta of 1.27. Cabot has a 1-year low of $63.73 and a 1-year high of $98.34. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.04 and a quick ratio of 1.30.

Cabot (NYSE:CBT) last posted its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.12. Cabot had a return on equity of 25.52% and a net margin of 11.24%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm earned $1.33 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Cabot will post 6.58 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jeff Ji Zhu sold 55,233 shares of Cabot stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $79.91, for a total value of $4,413,669.03. Following the sale, the executive vice president now directly owns 97,201 shares in the company, valued at approximately $7,767,331.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.07% of the company’s stock.

Institutional Trading of Cabot

Several large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Cabot during the fourth quarter valued at approximately $41,471,000. Sei Investments Co. increased 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 purchasing an additional 205,582 shares during the period. Envestnet Asset Management Inc. raised 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 worth $19,965,000 after buying an additional 138,663 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Cabot by 350.6% in the third quarter. AQR Capital Management LLC now owns 176,452 shares of the specialty chemicals company’s stock valued at $12,223,000 after buying an additional 137,294 shares during the period. Finally, Eventide Asset Management LLC bought a new position in Cabot during the fourth quarter valued at about $6,919,000. 93.18% of the stock is currently owned by institutional investors and hedge funds.

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.