Cabot Corporation (NYSE:CBT) Lowered to “Hold” at Zacks Investment Research

Cabot Corporation (NYSE:CBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, July 25th.

According to Zacks, “Cabot Corporation is a global specialty chemicals and materials company. Cabot’s major products are carbon black, fumed silica, inkjet colorants, and aerogels. Cabot has manufacturing plants located in countries around the world. (Company Press Release) “

A number of other research firms also recently commented on CBT. SunTrust Banks, Inc. began coverage on Cabot Corporation in a report on Tuesday, April 18th. They set a “buy” rating and a $56.00 price objective for the company. Jefferies Group LLC restated a “buy” rating and set a $68.00 price objective on shares of Cabot Corporation in a report on Tuesday, May 2nd. Northcoast Research upgraded Cabot Corporation from a “neutral” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Wednesday, May 24th. Aegis restated a “hold” rating on shares of Cabot Corporation in a report on Wednesday, May 31st. Finally, BidaskClub upgraded Cabot Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Cabot Corporation currently has an average rating of “Hold” and a consensus price target of $61.20.

Shares of Cabot Corporation (NYSE:CBT) traded up 0.27% during trading on Tuesday, reaching $51.58. The company had a trading volume of 294,974 shares. The firm has a market capitalization of $3.21 billion, a P/E ratio of 14.45 and a beta of 1.05. Cabot Corporation has a 12 month low of $47.99 and a 12 month high of $61.34. The firm’s 50 day moving average price is $53.47 and its 200 day moving average price is $55.69.

Cabot Corporation (NYSE:CBT) last issued its quarterly earnings results on Tuesday, August 1st. The specialty chemicals company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by $0.04. Cabot Corporation had a return on equity of 16.03% and a net margin of 8.61%. The business had revenue of $705 million for the quarter, compared to analysts’ expectations of $664.16 million. During the same period in the prior year, the company earned $0.93 EPS. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. Equities analysts predict that Cabot Corporation will post $3.46 EPS for the current year.

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A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased its stake in shares of Cabot Corporation by 22.9% in the first quarter. Bank of America Corp DE now owns 703,563 shares of the specialty chemicals company’s stock valued at $42,151,000 after buying an additional 131,109 shares in the last quarter. KCG Holdings Inc. increased its stake in shares of Cabot Corporation by 6.6% in the first quarter. KCG Holdings Inc. now owns 7,508 shares of the specialty chemicals company’s stock valued at $450,000 after buying an additional 467 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Cabot Corporation by 30.0% in the first quarter. Legal & General Group Plc now owns 68,671 shares of the specialty chemicals company’s stock valued at $4,112,000 after buying an additional 15,829 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Cabot Corporation by 29.0% in the first quarter. Pacer Advisors Inc. now owns 7,691 shares of the specialty chemicals company’s stock valued at $461,000 after buying an additional 1,727 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of Cabot Corporation by 1.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 28,890 shares of the specialty chemicals company’s stock valued at $1,731,000 after buying an additional 440 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

About Cabot Corporation

Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.

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