Investors received a note on Thursday that changed the rating from a "buy" to a "hold".
Other analysts have also commented on the company recently. In a report published on May 18th, Deutsche Bank Aktiengesellschaft reduced their Cabot target price from $90.00 down to $80.00. Loop Capital increased their target price for Cabot in a research report on Monday, February 13, from $98.00 up to $113.00. They also gave the stock an 'buy rating'. Credit Suisse Group began covering Cabot with a research report on Monday, 13th March. The company was given an 'outperform rating' and a price target of $94.00. In a Tuesday research note, JPMorgan Chase & Co. reduced Cabot's rating from 'overweight to 'neutral.' They also lowered their price target for the company. It went from $80.00 to $87.00. Three analysts gave the stock a buy recommendation, while two research analysts gave it a hold. The price of the stock fell $1.06 at midday on Thursday to $74.68. The company's shares were traded at a volume of 179,585, compared to the average of 297,346. The company's market cap is $4.19 billion. It has a price to earnings ratio of 13.46, and a beta value of 1.33. The stock's moving average for the past 50 days is $72.15, and its moving average over the last 200 days is $73.02. The company's debt-to equity ratio is 0.89. Its current ratio is 1.93, and its quick ratio is 1.24. Cabot's 12-month low is $59.65, and its 12-month high is $83.74.
The last time the company released its results was on May 8th. The specialty chemicals company met the consensus estimate for $1.33 per share. Revenue for the quarter was $1.03 billion, which is lower than the consensus estimate of $1.1 billion. Cabot's return on equity was 28.94%, and its net margin was 7.51%. Revenue for the quarter was down by 5.4% from last year's same-quarter revenue. In the same quarter of last year, Cabot posted earnings per share of $1.69. Cabot is expected to post an average of 6.34 earnings per share for the current fiscal year, according to research analysts.
Inflows of Institutional Capital and Outflows
Hedge funds and institutional investors bought and sold the stock recently. Bessemer Group Inc. increased its Cabot holdings by 1,005.1% in the third quarter. Bessemer Group Inc. owns 431 of the specialty chemicals firm's shares worth $28,000, after purchasing an additional 392 during the last quarterly. Parkside Financial Bank & Trust increased its holdings of Cabot by 176.0% in the first quarter. Parkside Financial Bank & Trust owns 414 of the specialty chemicals firm's shares worth $28,000, after purchasing an additional 264 during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings of Cabot by 25,3% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp owns now 976 shares worth $65,000 of specialty chemicals company stock after purchasing an additional 197 during the last quarter. Itau Unibanco Holding S.A. bought a new stake worth approximately $81,000 in Cabot during 3rd Quarter. Counterpoint Mutual Funds LLC also purchased a stake in Cabot for about $86,000 during the first quarter. Currently, hedge funds and institutional investors own 94.21%.
Cabot Company Profile
Cabot Corp., a specialty chemicals and performance material company with global operations, is one of the world's leading companies. Cabot Corp. produces rubber and specialty grade black carbons, specialty chemicals, fumed metal oxids, activated charcoals, aerogel, inkjet colourants and aerogel. The company is divided into three segments: Reinforcement Materials (reinforcement materials), Performance Chemicals (performance chemicals), and Purification Solutions.
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