Loop Capital Reiterates “$82.00” Price Target for Cabot (CBT)

Loop Capital set a $82.00 target price on Cabot (NYSE:CBT) in a research report sent to investors on Tuesday. The firm currently has a buy rating on the specialty chemicals company’s stock.

CBT has been the subject of a number of other research reports. TheStreet raised shares of Cabot from a c+ rating to a b+ rating in a research note on Tuesday, August 7th. Barclays initiated coverage on shares of Cabot in a research note on Monday, October 8th. They issued an overweight rating and a $76.00 price objective for the company. ValuEngine lowered shares of Cabot from a hold rating to a sell rating in a research note on Thursday, October 11th. Finally, Zacks Investment Research lowered shares of Cabot from a buy rating to a sell rating in a research note on Tuesday, October 16th. Two analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $75.00.

Shares of NYSE:CBT opened at $51.20 on Tuesday. The company has a market cap of $3.08 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 0.98 and a beta of 1.50. Cabot has a 1-year low of $46.63 and a 1-year high of $68.63. The company has a quick ratio of 0.97, a current ratio of 1.46 and a debt-to-equity ratio of 0.56.

Cabot (NYSE:CBT) last issued its earnings results on Monday, November 5th. The specialty chemicals company reported $1.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.09). The business had revenue of $850.00 million for the quarter, compared to the consensus estimate of $856.76 million. Cabot had a positive return on equity of 18.82% and a negative net margin of 3.49%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 earnings per share. As a group, sell-side analysts anticipate that Cabot will post 4.63 EPS for the current year.

Cabot declared that its board has approved a share repurchase program on Monday, July 16th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the specialty chemicals company to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

In other Cabot news, Director Patrick M. Prevost sold 40,519 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $65.65, for a total value of $2,660,072.35. Following the completion of the sale, the director now owns 216,894 shares in the company, valued at approximately $14,239,091.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas S. Cross sold 16,000 shares of the stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $65.86, for a total transaction of $1,053,760.00. Following the completion of the sale, the insider now owns 48,597 shares of the company’s stock, valued at approximately $3,200,598.42. The disclosure for this sale can be found here. Insiders sold a total of 76,000 shares of company stock valued at $4,980,877 in the last ninety days. Company insiders own 2.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Virginia Retirement Systems ET AL purchased a new stake in Cabot in the 2nd quarter worth approximately $1,279,000. Natixis lifted its position in Cabot by 104.1% in the 2nd quarter. Natixis now owns 212,116 shares of the specialty chemicals company’s stock worth $13,102,000 after buying an additional 108,182 shares in the last quarter. Neuburgh Advisers LLC lifted its position in Cabot by 18.7% in the 2nd quarter. Neuburgh Advisers LLC now owns 23,280 shares of the specialty chemicals company’s stock worth $1,438,000 after buying an additional 3,664 shares in the last quarter. GAM Holding AG lifted its position in Cabot by 39.5% in the 2nd quarter. GAM Holding AG now owns 7,485 shares of the specialty chemicals company’s stock worth $462,000 after buying an additional 2,118 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its position in Cabot by 0.6% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 2,060,907 shares of the specialty chemicals company’s stock worth $127,302,000 after buying an additional 12,452 shares in the last quarter. Institutional investors own 85.74% of the company’s stock.

Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers carbon black, a form of elemental carbon used to enhance the physical properties of the systems and applications in which it is incorporated; and rubber blacks for use as a rubber reinforcing agent and performance additive in tires, hoses, belts, extruded profiles, and molded goods.

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Analyst Recommendations for Cabot (NYSE:CBT)

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