Cabot (NYSE:CBT) Price Target Cut to $83.00 by Analysts at UBS Group

Cabot (NYSE:CBT) had its price objective cut by analysts at UBS Group from $93.00 to $83.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the specialty chemicals company’s stock. UBS Group’s target price indicates a potential upside of 9.79% from the company’s current price.

A number of other analysts also recently issued reports on CBT. StockNews.com upgraded shares of Cabot from a “hold” rating to a “buy” rating in a report on Tuesday, April 1st. JPMorgan Chase & Co. decreased their price target on Cabot from $105.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, February 21st. Finally, Mizuho cut their price objective on Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $93.25.

Cabot Price Performance

Shares of Cabot stock traded down $2.67 on Monday, hitting $75.60. 571,729 shares of the company were exchanged, compared to its average volume of 382,109. Cabot has a 1-year low of $74.87 and a 1-year high of $117.46. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 0.74 and a beta of 1.04. The company has a 50-day moving average price of $84.85 and a 200 day moving average price of $97.31.

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

Institutional Trading of Cabot

A number of large investors have recently modified their holdings of CBT. Barclays PLC grew its stake in Cabot by 103.9% during the 3rd quarter. Barclays PLC now owns 113,614 shares of the specialty chemicals company’s stock worth $12,699,000 after purchasing an additional 57,907 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Cabot during the third quarter worth about $654,000. Delta Financial Group Inc. acquired a new position in shares of Cabot during the fourth quarter worth about $274,000. Empowered Funds LLC purchased a new stake in shares of Cabot during the fourth quarter worth approximately $1,269,000. Finally, Harbor Capital Advisors Inc. raised its holdings in Cabot by 20.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 40,394 shares of the specialty chemicals company’s stock valued at $3,688,000 after acquiring an additional 6,950 shares in the last quarter. 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.