Cabot (NYSE:CBT) Lowered to Underweight Rating by JPMorgan Chase & Co.

Cabot (NYSE:CBT) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued to investors on Monday, Marketbeat reports. They presently have a $105.00 price target on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 6.67% from the stock’s current price.

A number of other research firms have also issued reports on CBT. Mizuho raised their price target on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. UBS Group reduced their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. One 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 company. Based on data from MarketBeat.com, Cabot has an average rating of “Hold” and an average target price of $105.00.

Cabot Stock Down 3.4 %

NYSE:CBT opened at $112.50 on Monday. The company’s 50 day moving average is $109.59 and its two-hundred day moving average is $101.91. The company has a market cap of $6.17 billion, a PE ratio of 16.69, a P/E/G ratio of 0.98 and a beta of 1.20. Cabot has a twelve month low of $70.63 and a twelve month high of $117.46. The company has a current ratio of 2.08, a quick ratio of 1.45 and a debt-to-equity ratio of 0.68.

Cabot (NYSE:CBT) last issued its earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Cabot had a return on equity of 26.60% and a net margin of 9.51%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $1.65 EPS. Analysts anticipate that Cabot will post 7.7 EPS for the current year.

Insider Activity

In related news, EVP Jeff Ji Zhu sold 1,201 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $106.19, for a total transaction of $127,534.19. Following the sale, the executive vice president now owns 96,000 shares in the company, valued at approximately $10,194,240. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Hobart Kalkstein sold 5,457 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total transaction of $548,865.06. Following the completion of the transaction, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at $6,204,579.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jeff Ji Zhu sold 1,201 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $106.19, for a total value of $127,534.19. Following the transaction, the executive vice president now owns 96,000 shares in the company, valued at $10,194,240. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,665 shares of company stock valued at $4,986,299 in the last three months. 3.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cabot

Large investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC increased its stake in shares of Cabot by 125.4% during the first quarter. Janney Montgomery Scott LLC now owns 10,911 shares of the specialty chemicals company’s stock worth $1,006,000 after purchasing an additional 6,070 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Cabot by 57.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 7,557 shares of the specialty chemicals company’s stock worth $697,000 after buying an additional 2,754 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Cabot by 3.0% during the first quarter. Russell Investments Group Ltd. now owns 29,164 shares of the specialty chemicals company’s stock valued at $2,689,000 after acquiring an additional 845 shares during the last quarter. US Bancorp DE lifted its position in shares of Cabot by 6.6% in the first quarter. US Bancorp DE now owns 30,469 shares of the specialty chemicals company’s stock valued at $2,809,000 after acquiring an additional 1,878 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Cabot by 3.1% in the first quarter. ProShare Advisors LLC now owns 13,434 shares of the specialty chemicals company’s stock worth $1,239,000 after acquiring an additional 403 shares during the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

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.