UBS Group Trims Cabot (NYSE:CBT) Target Price to $40.00

Cabot (NYSE:CBT) had its price objective lowered by UBS Group from $41.00 to $40.00 in a research note published on Monday morning, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the specialty chemicals company’s stock.

A number of other brokerages have also issued reports on CBT. Loop Capital decreased their price objective on Cabot from $48.00 to $31.00 and set a hold rating for the company in a report on Wednesday, March 18th. ValuEngine downgraded Cabot from a hold rating to a sell rating in a research report on Tuesday, March 3rd. Bank of America upgraded Cabot from an underperform rating to a neutral rating in a research report on Monday, March 9th. Zacks Investment Research downgraded Cabot from a hold rating to a sell rating and set a $44.00 target price for the company. in a research report on Tuesday, February 25th. Finally, Barclays restated a buy rating and issued a $52.00 target price on shares of Cabot in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $43.14.

CBT stock traded up $0.57 on Monday, reaching $26.73. The company’s stock had a trading volume of 346,148 shares, compared to its average volume of 410,625. Cabot has a 52 week low of $20.00 and a 52 week high of $50.58. The company has a market capitalization of $1.48 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 1.35 and a beta of 1.49. The firm has a fifty day moving average of $35.59 and a two-hundred day moving average of $43.17. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.08 and a quick ratio of 1.25.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.04). Cabot had a return on equity of 18.47% and a net margin of 3.98%. The business had revenue of $727.00 million during the quarter, compared to the consensus estimate of $772.38 million. During the same period last year, the company earned $0.87 earnings per share. The business’s quarterly revenue was down 11.4% compared to the same quarter last year. As a group, equities analysts expect that Cabot will post 3.52 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 28th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.24%. Cabot’s dividend payout ratio (DPR) is 35.81%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CBT. Norges Bank acquired a new stake in Cabot in the fourth quarter worth approximately $38,279,000. Victory Capital Management Inc. lifted its position in shares of Cabot by 57.2% during the 4th quarter. Victory Capital Management Inc. now owns 1,468,102 shares of the specialty chemicals company’s stock valued at $58,504,000 after acquiring an additional 534,213 shares during the last quarter. Earnest Partners LLC lifted its position in shares of Cabot by 7.9% during the 4th quarter. Earnest Partners LLC now owns 2,626,374 shares of the specialty chemicals company’s stock valued at $124,805,000 after acquiring an additional 193,103 shares during the last quarter. Man Group plc acquired a new stake in shares of Cabot during the 3rd quarter valued at $7,176,000. Finally, AJO LP lifted its position in shares of Cabot by 16.9% during the 4th quarter. AJO LP now owns 833,252 shares of the specialty chemicals company’s stock valued at $39,595,000 after acquiring an additional 120,346 shares during the last quarter. Hedge funds and other institutional investors own 86.89% of the company’s stock.

Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks 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 compounds of carbon black and rubber.

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Analyst Recommendations for Cabot (NYSE:CBT)

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