Wall Street Zen upgraded shares of Cabot (NYSE:CBT – Free Report) from a hold rating to a buy rating in a report released on Sunday morning,Wall Street Zen reports.
Several other brokerages have also recently weighed in on CBT. JPMorgan Chase & Co. raised their target price on Cabot from $70.00 to $78.00 and gave the company an “underweight” rating in a research note on Friday, August 7th. Mizuho raised their target price on shares of Cabot from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Weiss Ratings restated a “hold (c)” rating on shares of Cabot in a research report on Friday, August 21st. UBS Group dropped their price target on Cabot from $92.00 to $86.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Finally, Truist Financial set a $100.00 price objective on Cabot in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Cabot currently has an average rating of “Hold” and a consensus price target of $87.80.
Read Our Latest Stock Analysis on Cabot
Cabot Price Performance
Cabot (NYSE:CBT – Get Free Report) last released its earnings results on Monday, August 3rd. The specialty chemicals company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.01. Cabot had a return on equity of 20.29% and a net margin of 5.23%. The firm had revenue of $982.00 million during the quarter, compared to the consensus estimate of $943.16 million. During the same period in the prior year, the firm posted $1.90 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Cabot has set its FY 2026 guidance at 6.150-6.450 EPS. As a group, equities research analysts forecast that Cabot will post 6.35 EPS for the current fiscal year.
Insider Activity
In related news, CEO Sean Keohane sold 134,895 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $85.00, for a total value of $11,466,075.00. Following the completion of the sale, the chief executive officer owned 404,134 shares in the company, valued at approximately $34,351,390. This represents a 25.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 229,597 shares of company stock worth $19,646,746 in the last quarter. 3.08% of the stock is owned by insiders.
Institutional Trading of Cabot
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Cabot during the second quarter worth $633,302,000. Bank of America Corp DE acquired a new stake in shares of Cabot in the second quarter worth about $150,772,000. Bank of New York Mellon Corp bought a new stake in shares of Cabot during the 2nd quarter worth about $57,445,000. Pacer Advisors Inc. boosted its stake in shares of Cabot by 3,165.7% during the 4th quarter. Pacer Advisors Inc. now owns 229,252 shares of the specialty chemicals company’s stock worth $15,195,000 after acquiring an additional 222,232 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new stake in shares of Cabot during the 2nd quarter worth about $16,809,000. 93.18% of the stock is owned by institutional investors and hedge funds.
Cabot Company Profile
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. Founded in 1882 by Godfrey Lowell Cabot, the company develops and manufactures materials used by industrial and consumer-product manufacturers worldwide.
Cabot’s products include reinforcing carbon blacks used in tires, automotive components, and other rubber products; specialty carbon blacks used in coatings, plastics, inks, and batteries; and fumed silica used in adhesives, sealants, coatings, and personal-care applications.
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