Cabot (NYSE:CBT) Stock Rating Lowered by JPMorgan Chase & Co.

Cabot (NYSE:CBT) was downgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a note issued to investors on Monday, MarketBeat.com reports. They currently have a $105.00 price objective on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 6.67% from the stock’s previous close.

CBT has been the subject of several other research reports. UBS Group dropped their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Mizuho boosted their price objective on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Cabot presently has a consensus rating of “Hold” and a consensus price target of $105.00.

Cabot Stock Performance

NYSE CBT opened at $112.50 on Monday. The business’s 50 day moving average price is $109.59 and its 200-day moving average price is $101.91. Cabot has a fifty-two week low of $70.63 and a fifty-two week high of $117.46. The company has a market cap of $6.17 billion, a P/E ratio of 16.69, a P/E/G ratio of 0.98 and a beta of 1.20. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.45 and a current ratio of 2.08.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 EPS. Sell-side analysts predict that Cabot will post 7.7 earnings per share for the current year.

Insider Buying and Selling at Cabot

In other news, EVP Hobart Kalkstein sold 5,457 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total transaction of $548,865.06. Following the transaction, the executive vice president now owns 61,688 shares in the company, valued at approximately $6,204,579.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Hobart Kalkstein sold 5,457 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the sale, the executive vice president now owns 61,688 shares of the company’s stock, valued at approximately $6,204,579.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeff Ji Zhu sold 1,201 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $106.19, for a total transaction of $127,534.19. Following the completion of the transaction, the executive vice president now directly owns 96,000 shares of the company’s stock, valued at $10,194,240. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,665 shares of company stock valued at $4,986,299 in the last ninety days. Corporate insiders own 3.07% of the company’s stock.

Hedge Funds Weigh In On Cabot

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBT. Eastern Bank boosted its holdings in shares of Cabot by 577.1% in the 3rd quarter. Eastern Bank now owns 269,270 shares of the specialty chemicals company’s stock valued at $30,096,000 after buying an additional 229,500 shares in the last quarter. Fiera Capital Corp acquired a new stake in Cabot in the third quarter valued at approximately $19,643,000. Copeland Capital Management LLC grew its holdings in Cabot by 30.4% in the third quarter. Copeland Capital Management LLC now owns 626,253 shares of the specialty chemicals company’s stock worth $69,996,000 after purchasing an additional 146,179 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Cabot by 571.9% during the second quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company’s stock worth $11,681,000 after purchasing an additional 108,197 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in shares of Cabot by 22.9% during the 1st quarter. Capital Research Global Investors now owns 521,486 shares of the specialty chemicals company’s stock valued at $48,081,000 after purchasing an additional 97,101 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

About Cabot

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.