Mizuho Issues Positive Forecast for Cabot (NYSE:CBT) Stock Price

Cabot (NYSE:CBT - Free Report) had its price target lifted by Mizuho from $103.00 to $122.00 in a report published on Tuesday, Benzinga reports. Mizuho currently has an outperform rating on the specialty chemicals company's stock.

A number of other equities analysts have also recently weighed in on the company. UBS Group reduced their price target on Cabot from $103.00 to $98.00 and set a "neutral" rating for the company in a report on Tuesday, August 6th. JPMorgan Chase & Co. upped their target price on Cabot from $95.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $105.00.

Cabot Stock Performance

Shares of NYSE CBT traded down $1.21 during midday trading on Tuesday, reaching $108.88. 742,048 shares of the stock were exchanged, compared to its average volume of 337,923. The company has a quick ratio of 1.45, a current ratio of 2.22 and a debt-to-equity ratio of 0.72. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.91 and a beta of 1.20. The firm has a 50-day simple moving average of $108.30 and a two-hundred day simple moving average of $101.01. Cabot has a twelve month low of $66.02 and a twelve month high of $117.14.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The firm's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 EPS. As a group, analysts anticipate that Cabot will post 7.07 EPS for the current fiscal year.

Insider Buying and Selling at Cabot

In related news, CFO Erica Mclaughlin sold 23,274 shares of the business's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the completion of the sale, the chief financial officer now directly owns 59,814 shares in the company, valued at approximately $5,968,839.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total value of $2,601,406.35. Following the completion of the sale, the chief executive officer now owns 331,174 shares in the company, valued at approximately $33,630,719.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Erica Mclaughlin sold 23,274 shares of the business's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total value of $2,322,512.46. Following the transaction, the chief financial officer now owns 59,814 shares in the company, valued at approximately $5,968,839.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,939 shares of company stock valued at $7,308,812 over the last quarter. 3.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cabot

A number of institutional investors have recently added to or reduced their stakes in CBT. BNP Paribas Financial Markets raised its holdings in shares of Cabot by 28.8% during the 1st quarter. BNP Paribas Financial Markets now owns 51,271 shares of the specialty chemicals company's stock worth $4,727,000 after acquiring an additional 11,471 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Cabot by 125.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,911 shares of the specialty chemicals company's stock valued at $1,006,000 after purchasing an additional 6,070 shares during the last quarter. Sei Investments Co. grew its stake in shares of Cabot by 6.1% in the 1st quarter. Sei Investments Co. now owns 862,081 shares of the specialty chemicals company's stock valued at $79,484,000 after buying an additional 49,467 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Cabot by 571.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company's stock worth $11,681,000 after buying an additional 108,197 shares during the last quarter. Finally, Tidal Investments LLC raised its position in shares of Cabot by 101.7% during the 1st quarter. Tidal Investments LLC now owns 18,107 shares of the specialty chemicals company's stock valued at $1,669,000 after buying an additional 9,131 shares during the period. Hedge funds and other institutional investors own 93.18% of the company's stock.

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.