Mizuho Has Lowered Expectations for Cabot (NYSE:CBT) Stock Price

Cabot (NYSE:CBT) had its price target cut by investment analysts at Mizuho from $122.00 to $110.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the specialty chemicals company’s stock. Mizuho’s price objective suggests a potential upside of 25.59% from the company’s previous close.

Separately, JPMorgan Chase & Co. cut shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective on the stock. in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Cabot has a consensus rating of “Hold” and an average price target of $102.00.

Cabot Price Performance

NYSE CBT opened at $87.59 on Tuesday. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 0.90 and a beta of 1.21. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36. The stock’s fifty day moving average price is $103.24 and its 200 day moving average price is $102.50. Cabot has a 1 year low of $70.63 and a 1 year high of $117.46.

Cabot (NYSE:CBT) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). Cabot had a net margin of 9.51% and a return on equity of 26.60%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts forecast that Cabot will post 7.67 earnings per share for the current year.

Cabot declared that its board has authorized a share buyback program on Tuesday, December 3rd that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Hobart Kalkstein sold 34,759 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $115.23, for a total value of $4,005,279.57. Following the completion of the sale, the executive vice president now owns 50,627 shares of the company’s stock, valued at approximately $5,833,749.21. This represents a 40.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Lisa M. Dumont sold 865 shares of Cabot stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total transaction of $96,655.10. Following the transaction, the chief accounting officer now directly owns 9,742 shares in the company, valued at $1,088,571.08. This trade represents a 8.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,190 shares of company stock valued at $5,751,534 in the last three months. 3.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. First Citizens Bank & Trust Co. lifted its stake in shares of Cabot by 2.1% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,426 shares of the specialty chemicals company’s stock valued at $606,000 after purchasing an additional 109 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Cabot by 22.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock valued at $73,000 after buying an additional 117 shares during the period. EverSource Wealth Advisors LLC lifted its position in Cabot by 33.4% in the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 119 shares during the last quarter. UMB Bank n.a. boosted its stake in Cabot by 53.9% during the third quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 130 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Cabot by 10.7% during the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the specialty chemicals company’s stock valued at $123,000 after acquiring an additional 130 shares during the last quarter. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

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.