Cabot (NYSE:CBT) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Cabot (NYSE:CBT) in a research report report published on Tuesday, Analyst Ratings Network reports. The firm issued a buy rating and a $75.00 price target on the specialty chemicals company’s stock.

Several other research analysts have also recently weighed in on the stock. TheStreet cut shares of Cabot from a b- rating to a c+ rating in a research report on Tuesday, July 20th. Loop Capital upgraded shares of Cabot from a hold rating to a buy rating and set a $78.00 price objective for the company in a research report on Thursday, July 1st. Finally, JPMorgan Chase & Co. upgraded shares of Cabot from a neutral rating to an overweight rating and set a $62.00 price objective for the company in a research report on Friday, July 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $72.33.

NYSE:CBT opened at $49.85 on Tuesday. Cabot has a 1 year low of $34.84 and a 1 year high of $65.25. The firm has a 50 day moving average of $53.97 and a 200-day moving average of $55.90. The company has a current ratio of 1.95, a quick ratio of 1.25 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $2.83 billion, a P/E ratio of -51.39 and a beta of 1.64.

Cabot (NYSE:CBT) last posted its earnings results on Sunday, August 8th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.17. Cabot had a negative net margin of 1.61% and a positive return on equity of 27.56%. The company had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $804.70 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. Cabot’s quarterly revenue was up 77.0% compared to the same quarter last year. As a group, analysts forecast that Cabot will post 4.96 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Friday, August 27th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Thursday, August 26th. Cabot’s dividend payout ratio (DPR) is 67.31%.

Several hedge funds have recently made changes to their positions in CBT. Cullen Frost Bankers Inc. acquired a new position in shares of Cabot in the 2nd quarter valued at $34,000. Burleson & Company LLC acquired a new position in shares of Cabot in the 1st quarter valued at $52,000. Nisa Investment Advisors LLC grew its holdings in shares of Cabot by 100.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the specialty chemicals company’s stock valued at $57,000 after buying an additional 500 shares during the period. Parisi Gray Wealth Management acquired a new position in shares of Cabot in the 2nd quarter valued at $69,000. Finally, Bbva USA acquired a new position in shares of Cabot in the 2nd quarter valued at $113,000. 90.44% of the stock is owned by institutional investors.

Cabot Company Profile

Cabot Corp. is a global specialty chemicals and performance materials company. Its products are rubber and specialty grade carbon blacks, specialty compounds, fumed metal oxides, activated carbons, inkjet colorants, and aerogel. The company operates through the following segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions.

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Analyst Recommendations for Cabot (NYSE:CBT)

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