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

Cabot (NYSE:CBT) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $105.00 to $85.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 0.52% from the company’s current price.

CBT has been the topic of a number of other research reports. Mizuho reduced their target price on Cabot from $122.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. StockNews.com upgraded 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cabot currently has a consensus rating of “Hold” and an average price target of $97.00.

Cabot Stock Performance

NYSE:CBT opened at $84.56 on Friday. The stock’s fifty day moving average is $89.47 and its 200 day moving average is $101.04. Cabot has a fifty-two week low of $81.24 and a fifty-two week high of $117.46. The firm has a market capitalization of $4.58 billion, a PE ratio of 11.23, a PEG ratio of 0.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 2.00.

Cabot (NYSE:CBT) last released its earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.02. Cabot had a return on equity of 26.79% and a net margin of 10.60%. On average, sell-side analysts anticipate that Cabot will post 7.57 earnings per share for the current year.

Cabot declared that its Board of Directors has approved a stock repurchase plan on Tuesday, December 3rd that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Cabot

Institutional investors have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in Cabot during the fourth quarter valued at about $26,000. Farther Finance Advisors LLC boosted its position in Cabot by 197.9% during 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 in the last quarter. CWM LLC boosted its position in Cabot by 35.6% during the third quarter. CWM LLC now owns 564 shares of the specialty chemicals company’s stock valued at $63,000 after purchasing an additional 148 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Cabot by 22.0% during the third quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock valued at $73,000 after purchasing an additional 117 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Cabot by 37.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company’s stock valued at $74,000 after purchasing an additional 219 shares in the last quarter. 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.