Cabot (NYSE:CBT) Price Target Lowered to $85.00 at JPMorgan Chase & Co.

Cabot (NYSE:CBT - Get Free Report) had its target price dropped by stock analysts at JPMorgan Chase & Co. from $105.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "underweight" rating on the specialty chemicals company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential downside of 2.31% from the stock's previous close.

Several other research firms have also weighed in on CBT. Mizuho lowered their target price on Cabot from $122.00 to $110.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. StockNews.com raised shares of Cabot from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Cabot presently has an average rating of "Hold" and a consensus price target of $97.00.

Cabot Price Performance

Shares of NYSE:CBT traded up $2.12 on Friday, reaching $87.01. 561,600 shares of the company were exchanged, compared to its average volume of 409,689. The company has a current ratio of 2.00, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72. Cabot has a 1-year low of $82.27 and a 1-year high of $117.46. The company has a 50-day moving average of $89.13 and a 200-day moving average of $100.98. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 0.74 and a beta of 1.19.

Cabot (NYSE:CBT - Get Free Report) last issued its earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.74 by $0.02. Cabot had a net margin of 10.60% and a return on equity of 26.79%. Equities analysts forecast that Cabot will post 7.57 earnings per share for the current fiscal year.

Cabot announced that its board has approved a share repurchase plan on Tuesday, December 3rd that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of Cabot

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in shares of Cabot during the 4th quarter worth about $26,000. Farther Finance Advisors LLC increased its stake in Cabot by 197.9% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company's stock valued at $47,000 after purchasing an additional 277 shares during the last quarter. CWM LLC lifted its position in Cabot by 35.6% during the third quarter. CWM LLC now owns 564 shares of the specialty chemicals company's stock worth $63,000 after buying an additional 148 shares during the period. First Horizon Advisors Inc. boosted its stake in Cabot by 22.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company's stock worth $73,000 after buying an additional 117 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Cabot by 37.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company's stock valued at $74,000 after buying an additional 219 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.