Cabot (NYSE:CBT) Upgraded to Buy at StockNews.com

Cabot (NYSE:CBT) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Several other research firms have also commented on CBT. JPMorgan Chase & Co. lowered Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective for the company. in a research note on Monday, November 11th. Mizuho decreased their price objective on Cabot from $122.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. 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 data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $102.00.

Cabot Stock Performance

CBT stock opened at $86.53 on Tuesday. The company has a market cap of $4.69 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 0.76 and a beta of 1.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.36. Cabot has a 1 year low of $80.21 and a 1 year high of $117.46. The stock’s fifty day moving average price is $90.90 and its 200-day moving average price is $101.26.

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

Cabot announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 3rd that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Cabot

Several institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Cabot by 18.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,974 shares of the specialty chemicals company’s stock worth $10,772,000 after purchasing an additional 18,021 shares during the last quarter. iSAM Funds UK Ltd purchased a new position in Cabot during the 4th quarter valued at approximately $531,000. Twinbeech Capital LP bought a new stake in Cabot in the 4th quarter worth approximately $7,352,000. Two Sigma Advisers LP raised its holdings in shares of Cabot by 123.3% during the 4th quarter. Two Sigma Advisers LP now owns 9,600 shares of the specialty chemicals company’s stock worth $877,000 after acquiring an additional 5,300 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Cabot by 94.1% during the 4th quarter. Two Sigma Investments LP now owns 82,163 shares of the specialty chemicals company’s stock valued at $7,502,000 after acquiring an additional 39,830 shares during the last quarter. 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.