Cabot (NYSE:CBT) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Cabot (NYSE:CBT) had its price target decreased by JPMorgan Chase & Co. from $78.00 to $68.00 in a research note published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the specialty chemicals company’s stock.

A number of other equities analysts have also recently commented on the stock. Wall Street Zen cut shares of Cabot from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Zacks Research cut Cabot from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 5th. UBS Group dropped their target price on Cabot from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Wednesday, November 4th. Weiss Ratings restated a “hold (c)” rating on shares of Cabot in a research note on Friday, August 21st. Finally, Truist Financial decreased their price target on Cabot from $100.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, November 4th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $83.60.

Cabot Stock Down 0.1%

CBT opened at $72.15 on Tuesday. Cabot has a one year low of $58.33 and a one year high of $94.53. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.44 and a current ratio of 2.16. The stock has a market capitalization of $3.72 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 9.15 and a beta of 0.83. The business’s 50-day simple moving average is $76.05 and its 200-day simple moving average is $79.54.

Cabot (NYSE:CBT) last announced its earnings results on Monday, November 2nd. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $927.29 million. Cabot had a return on equity of 19.64% and a net margin of 5.69%. The business’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.70 EPS. Analysts anticipate that Cabot will post 6.58 EPS for the current year.

Insider Activity at Cabot

In other news, CEO Sean Keohane sold 134,895 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $85.00, for a total value of $11,466,075.00. Following the completion of the sale, the chief executive officer directly owned 404,134 shares of the company’s stock, valued at $34,351,390. This trade represents a 25.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Root Financial Partners LLC acquired a new position in shares of Cabot during the 3rd quarter worth $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Cabot in the second quarter valued at about $33,000. Global Retirement Partners LLC acquired a new stake in shares of Cabot in the second quarter valued at about $88,000. Allworth Financial LP acquired a new stake in shares of Cabot in the second quarter valued at about $145,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Cabot during the second quarter worth about $148,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.

About Cabot

Cabot Corporation is a specialty chemicals and performance materials company that develops and manufactures materials used in products across transportation, energy, infrastructure, electronics and consumer markets. Its offerings include reinforcing carbon blacks for tires and other rubber products, specialty carbons and battery materials, fumed silica and other specialty compounds. Founded in 1882, Cabot has expanded from its early carbon black business into a broader portfolio of performance materials.