Cabot (CBT) Upgraded to Buy by SunTrust Banks

SunTrust Banks upgraded shares of Cabot (NYSE:CBT) to a buy rating in a research note released on Tuesday, The Fly reports. They currently have $73.00 target price on the specialty chemicals company’s stock. SunTrust Banks also issued estimates for Cabot’s Q1 2018 earnings at $0.75 EPS, Q2 2018 earnings at $1.01 EPS, Q3 2018 earnings at $1.08 EPS, Q4 2018 earnings at $1.09 EPS, FY2018 earnings at $3.93 EPS and FY2019 earnings at $4.34 EPS.

Other equities analysts have also recently issued research reports about the company. KeyCorp reiterated a hold rating on shares of Cabot in a research report on Wednesday, November 1st. Jefferies Group reissued a buy rating and set a $74.00 price target on shares of Cabot in a research note on Friday, November 3rd. Loop Capital raised Cabot from a hold rating to a buy rating and set a $82.00 price target on the stock in a research note on Friday, January 5th. ValuEngine raised Cabot from a hold rating to a buy rating in a research note on Sunday, December 31st. Finally, Zacks Investment Research lowered Cabot from a buy rating to a hold rating in a research note on Tuesday, November 7th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $70.67.

Shares of Cabot (NYSE CBT) traded up $1.07 during mid-day trading on Tuesday, reaching $67.58. The company had a trading volume of 235,504 shares, compared to its average volume of 335,969. The firm has a market cap of $4,120.27, a PE ratio of 19.39, a PEG ratio of 1.75 and a beta of 1.11. Cabot has a 1 year low of $50.21 and a 1 year high of $68.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.70 and a quick ratio of 1.17.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.02). Cabot had a net margin of 8.87% and a return on equity of 15.11%. The company had revenue of $723.00 million during the quarter, compared to analyst estimates of $683.30 million. During the same quarter last year, the firm earned $1.00 EPS. The business’s revenue was up 16.8% on a year-over-year basis. equities research analysts predict that Cabot will post 3.8 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be paid a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Thursday, February 22nd. Cabot’s dividend payout ratio is presently 33.07%.

Institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Cabot by 9.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock worth $132,000 after buying an additional 209 shares during the period. Swiss National Bank raised its position in shares of Cabot by 1.6% in the 2nd quarter. Swiss National Bank now owns 104,100 shares of the specialty chemicals company’s stock worth $5,562,000 after buying an additional 1,600 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Cabot by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,118 shares of the specialty chemicals company’s stock worth $487,000 after buying an additional 33 shares during the period. Kennedy Capital Management Inc. purchased a new position in shares of Cabot in the 2nd quarter worth $1,846,000. Finally, Wells Fargo & Company MN raised its position in shares of Cabot by 11.3% in the 2nd quarter. Wells Fargo & Company MN now owns 136,836 shares of the specialty chemicals company’s stock worth $7,311,000 after buying an additional 13,882 shares during the period. 84.82% of the stock is currently owned by institutional investors.

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About Cabot

Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.

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