Cabot (NYSE:CBT) Given a $82.00 Price Target at UBS Group

Key Points

• UBS Group has raised Cabot's price target from $81.00 to $82.00, indicating a potential upside of 11.13% based on the company's previous close, while maintaining a "neutral" rating.
• Separately, Wall Street Zen downgraded Cabot from a "buy" to a "hold" rating, reflecting differing sentiment among analysts.
• Cabot's latest quarterly earnings report revealed an EPS of $1.90, surpassing estimates, but revenue fell short at $923 million against analyst expectations of $957 million.

UBS Group set a $82.00 target price on Cabot (NYSE:CBT - Free Report) in a research report released on Tuesday morning, Marketbeat.com reports. The brokerage currently has a neutral rating on the specialty chemicals company's stock.

Separately, Wall Street Zen cut shares of Cabot from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th.

Cabot Trading Up 0.2%

CBT stock traded up $0.17 during trading on Tuesday, reaching $77.91. The company had a trading volume of 271,988 shares, compared to its average volume of 414,071. Cabot has a 52 week low of $70.40 and a 52 week high of $117.46. The company has a market cap of $4.14 billion, a P/E ratio of 10.18 and a beta of 0.87. The business has a 50 day moving average of $75.97 and a 200 day moving average of $79.52. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.13 and a quick ratio of 1.30.

Cabot (NYSE:CBT - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.80 by $0.10. Cabot had a net margin of 11.14% and a return on equity of 25.68%. The firm had revenue of $923.00 million for the quarter, compared to analysts' expectations of $957.29 million. As a group, sell-side analysts forecast that Cabot will post 7.57 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.3%. Cabot's payout ratio is presently 23.53%.

Institutional Trading of Cabot

Several institutional investors and hedge funds have recently modified their holdings of the company. LPL Financial LLC raised its position in shares of Cabot by 241.6% during the 4th quarter. LPL Financial LLC now owns 31,071 shares of the specialty chemicals company's stock valued at $2,837,000 after buying an additional 21,974 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Cabot by 14.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 7,933 shares of the specialty chemicals company's stock worth $724,000 after purchasing an additional 1,016 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Cabot by 2.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 335,261 shares of the specialty chemicals company's stock worth $30,613,000 after purchasing an additional 8,044 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Cabot by 7.8% in the 4th quarter. Russell Investments Group Ltd. now owns 33,459 shares of the specialty chemicals company's stock worth $3,055,000 after purchasing an additional 2,413 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of Cabot by 6.3% in the 4th quarter. Bank of Montreal Can now owns 10,445 shares of the specialty chemicals company's stock worth $954,000 after purchasing an additional 622 shares during the period. 93.18% of the stock is currently owned by institutional investors.

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.